Sustainability has been a trending topic for the past decade. We see it in the media, talk about it with our friends, and some of us have even made changes in our personal lives to be more sustainable. But what does it mean for businesses? Why should businesses care about sustainability?
The easy answer is that embracing sustainability is simply good business. It’s becoming increasingly clear that sustainability is no longer a “nice to have” – it’s a “must have” for businesses who want to stay ahead of the curve, appeal to customers and talent, and positively impact the world.
What is Sustainability?
Sustainability is often defined as meeting the present’s needs without compromising future generations’ ability to meet their own needs. When it comes to business, this means considering our actions’ environmental and social impact on future generations.
It’s important to note that sustainability is not just about being “green” or reducing our carbon footprint. While those things are important, they only scratch the surface of what it means to be a sustainable business. To be truly sustainable, businesses must also consider social factors such as diversity & inclusion, human rights, and social justice.
The Business Case for Sustainability
There are numerous reasons why sustainability is good for business. Here are just a few:
-Sustainability can help businesses save money by reducing resource consumption and increasing efficiency.
-Embracing sustainability can help businesses tap into new markets and gain a competitive advantage.
-Many customers (especially Millenials) are interested in doing business with companies that have values similar to their own, and sustainability is often high on that list.
-Sustainability can help attract and retain top talent. Many job seekers nowadays want to work for companies making a positive impact on the world.
-Last but not least, sustainability simply makes good business sense. It’s becoming increasingly clear that the world is moving towards a low-carbon future, and those businesses that don’t adapt will be left behind.
The benefits of sustainability are numerous and far-reaching. For businesses who want to stay ahead of the curve, appeal to customers and top talent, and positively impact the world, embracing sustainability is simply good business sense.