For sustainability to take root, research needs to be done. Businesses need to examine all the elements of a decision by including sustainability experts in the process and considering life cycle analysis LCA tools. Innovations will arise out of the need to adjust the business towards greater sustainability.
These include: Empowering board members and business leaders to focus on sustainability and drive execution Strategically planning and developing products or services that produce sustainable outcomes Marketing products and services that evoke sustainable choices from consumers Using the Global Goals to inform leadership development strategies Incorporate diverse leadership. These are not only focused on the environment, but include greater equality, fair wages, and investing in diversity.
It comes as no surprise that 30 per cent of the board members of Chr. Sustainable businesses set targets that are well-researched and achievable.
Goals may include reducing their carbon footprint by 50 per cent or eliminating it altogether. Or, eliminating pollution across their supply chain. Be accountable and constantly improve.
Being transparent makes businesses more accountable, and removes complacency. Being accountable ensures businesses are constantly striving to find new ways to decrease their footprint further, and fosters more credibility with consumers.
Embrace competitors as collaborators. This type of competition is encouraged by sustainable businesses, not only because of the positive impact on the environment, but also because it forces them to continue their sustainability innovations.
Leaders find like-minded competitors and non-profits to collaborate with to develop innovations that might be out of reach for a single organisation.
Click here to view sources. Retrieved from Good Business Film. Accessed 16 May Retrieved from Unilever. Retrieved from Corporate Knights. Retrieved from Business and Sustainable Development Commission. Retrieved from Stanford Social Innovation Review. Retrieved from The Global Goals. Jan, Skip to main content Skip to page navigation. In association with. What is sustainable business Sustainable business means doing things thoughtfully by thinking ahead and looking at how your actions impact the environment and surroundings.
How to be environmentally sustainable Climate Action Tool Box external link. Benefits for your business. Facebook Twitter LinkedIn Email. There are many advantages of being an eco-friendly business. Some of these include: Attracting more customers — studies show a number of people prefer to deal with businesses that are socially and environmentally responsible. Marketing advantages — environmentally sustainable practices, products and services are often a unique selling point. Production and supply chains.
We want to hear from you what will support your business. Submission form. Rating form How helpful did you find this? Additional comments. Triple bottom line TBL accounting expands the traditional reporting framework to take into account social and environmental performance in addition to financial.
In brief: people, planet, profit. As a business striving to be sustainable in all senses of the word, it is important to understand your wider impact and collecting data can help identify where improvement is required.
Sustainability is a journey and there is always room for improvement. Once you see the benefits of running a sustainable business, you will become hooked on finding new and improved ways of doing things. Set yourself ambitious goals and make sure to shout about your achievements to your staff, customers and suppliers! At the University of Chester, we can support you in developing a sustainable business.
Menu Site search. Welcome Why Chester? The market Consumers are becoming increasingly influenced by the impact of their purchasing power on society, their health and the planet. Becoming a sustainable business Sustainability is an extremely broad term but in its simplest sense focuses on creating a resilient environment or platform for long-term positive impact to thrive. Reduce your environmental impact — everything from the more obvious reuse and recycling, switching to LEDs, reducing plastic, reducing travel and having energy efficient appliances, through to adopting a circular business model.
Ensure a sustainable supply chain — once you understand what it takes to be a sustainable business you can make sure that your suppliers are also doing their bit and look for alternatives when they are not or support them to adapt. Engage your people — embed your goals within your company culture. Look after your people — develop a positive culture, invest in employee development, pay employees and your supply chain fairly, be transparent in your communication, hire local if possible to boost your community, offer incentive and reward for great work.
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