Business Sustainability Strategies to Implement Corporation
Business sustainability refers to the ability to carry out activities for a long time, considering social, economic, and environmental criteria that ensure business continuity. In addition, it must become a priority for business people since it is a factor that contributes to increasing the good image of the entities.
The Dow Jones Sustainability Index combines more than 600 variables with which can quantify this rising value can quantify this increasing value. In short, a sustainable company provides social, economic, and environmental value.
How Do We Develop a Culture of Sustainability in Companies?
Consumers are increasingly eco-conscious and seek to buy products and services from companies committed to the environment. The increase in sales of organic products and widespread greenwashing (market strategy based on presenting themselves as friendly to the environment without actually being so) prove it.
Being sustainable means being responsible to the new generations, promoting healthy social relations, and avoiding the end of resources that have taken centuries to form.
There are many necessary strategies to transform business activities into more sustainable spaces. I will explain four here:
- Saving energy resources
- Taking advantage of nearby resources
- Implementing the principles of the circular economy
- Ecologically managing the transport
A culture of sustainability is achieved when all employees have internalized the social, economic, and environmental values of sustainability. However, the throwaway culture of immediacy and disregard for the future is still widespread. It is a tough ideological battle in which information and awareness campaigns play a crucial role.
Save Energy Resources
Saving energy resources is the best way to improve productivity. This strategy begins with an analysis of the workplace and existing energy flows. The most common measures are related to the insulation and temperature of the space: before using electricity or gas, take advantage of sunlight, and before turning on the heating, better insulate the walls and windows.
There are many examples of saving energy resources. Still, avoiding any energy loss caused by damage to the infrastructure is essential, as they are widespread, and their long-term costs can be enormous.
Sometimes, it is necessary to make significant changes, as with energy sources. But, in most cases, minor adjustments generate substantial differences.
Take Advantage of Nearby Resources
This second strategy is related to the first, although it is not restricted to energy inputs. In a globalized market, competition is so intense that using the advantages of the particular territory in which the activity is carried out is essential. If it is a sunny place, plates absorb energy; if there is a lot of wind, wind farms.
It is necessary to know as much as possible what is in the closest area, save on transport, ensure you understand the suppliers, and know what raw materials and talents exist around you. It is preferable to buy from neighbors and not foreign companies since minor environmental damage is generated and trust between nearby networks is improved.
Implement the Principles of the Circular Economy
Assume that matter is limited and that the environment is open. This strategy seeks to reduce the input of components and reuse those that have already entered the business economy. The waste has to be managed internally or recycled. Thus, Varela considers that for waste Management, “there is not a problem with the regulations, which are very extensive and complex, but with compliance with them.”
A company can no longer be a waste machine. Just as plastic bags have been banned and reusable ones are promoted, these principles are extrapolated to all necessary products. In the case of paper, it is easy to recycle it, but we must also do it with packaging, IT machinery, etc. It is more profitable to repair a replacement.
Ecologically Manage Transport
Last but not least, the corporate sustainability strategy no manager can ignore is transportation Management.
The habit of using highly polluting vehicles occupied by only one person is going down in history. There are many alternatives, such as sharing the car between employees who take nearby routes and promoting bicycle use or public transport. In the same way, Varela appeals to the importance of the circular economy about the impact on the environment: “the circular economy and smart waste Management have the potential to reduce a third of the greenhouse gases we emit.”