Sustainability has become a key buzzword in business. In the wake of COP26, the world is more focused than ever before on protecting the future of the planet by only using what we need in the present. Below, we explore how you can implement sustainable strategies in your business.
But why is sustainability a key corporate target now? Aside from the obvious benefit of helping the planet, there are other practical advantages too.
The younger generations are almost overwhelmingly concerned about the future of the planet and will act on this with the companies they use.
By promoting sustainability, you can add brand value and gain a competitive market advantage. At the same time, taxes are also set to rise for polluters; by becoming more sustainable you could find your business becomes more efficient and saves money.
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To begin the process of implementing sustainable strategies, you’ll need to allocate some resources to the project. This is going to be a continuous process, so you’ll need someone within the organization to take on permanent responsibility for sustainability.
There may be an initial outlay required too. If you manufacture products, for instance, you may need to purchase new technology or machinery. Even if cash flow is tight you could use a business cash advance to make this investment.
You can’t just stumble towards sustainability – you need a clear plan with set goals. Before you begin the process, ensure that you have a detailed idea of your process and targets.
For your business to become more sustainable, everyone needs to be aligned. Speak to all your employees and make sure they’re aware of the changes that will be happening and encourage them to take part in this process.
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It can be difficult to make drastic changes quickly. Instead, sustainability is a steady, incremental process. Ensure that you’re engaged in the long-term and consistently seek little improvements to the business.
Sustainability is always improved when we work together. Don’t be afraid to collaborate with other groups to help everyone become more sustainable. This could be by working with local academics, start-ups, waste management companies, or suppliers for support or to become more efficient.
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Consistently review your sustainability process. Measure your results and commission reports on where you can improve. With new technology and research coming thick and fast, you’ll always find new ways to become even more sustainable.
Implementing sustainable strategies is the right ethical choice for businesses and can offer practical benefits too. By planning carefully, allocating resources, and steadily searching for improvement, your business will become more sustainable.
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