The Business Case for Sustainability

Definition

 It can be defined as the capacity to endure; the notion of survival is intrinsic to its meaning. In business however, the word ‘sustainable' is most often used to describe businesses that make a conscious effort to reduce any negative effects they may have on the environment and economy. It is closely related to CSR and carbon initiatives.

In many circles, embracing sustainability is seen as nothing more than a canny PR move; a nice subject for press releases, something to pacify any eco-minded clients. However, not practicing what you preach, AKA ‘greenwashing' is perceived as bad, if not worse, as not taking any environmental action to begin with, something any multi-national who has been targeted by Greenpeace will testify to. What's more, in the age of social media, absolute transparency is paramount.

Going 'Green'

So, we've established that if you ‘go green' you need to be committed, as opposed to merely paying lip service to the cause. So, how to convince superiors and cynics as to the value of sustainability initiatives? Firstly the figures. Numerous studies have shown that sustainability initiatives lead to increased profits and more engaged employees. For example, a study of 2,600 executives from companies worldwide found a 20% rise in sustainability influenced business change, with nearly half of companies questioned stating that they had changed their business models to take advantage of sustainable business opportunities.  60% of companies said that they had seen a profit from having sustainability as a permanent fixture.  Additionally, a study of 5,000 French companies found that when compared to companies not actively taking steps to be greener and more sustainable, employees were found to be 16 times more productive.

Cost Reduction

At its heart, sustainability in business is about waste reduction and minimising impact on the environment. Businesses that embrace sustainability processes find that their overheads are reduced, processes are refined, and just as their carbon footprint is reduced, so are their electricity bills.

The Sustainable Sourcing code

If you work with public sector clients, then sustainability may already have become more of a requirement than a choice. In the London 2012 Olympics, potential suppliers had to adhere to the Sustainable Sourcing Code in order to be considered. An Environmental Policy and Sustainability Policy are normally minimum requirements when applying for any public sector or local authority tenders.

Certification

Environmental issues are not going away and, as the common business maxim goes, it is better to innovate then imitate. So, how to begin your journey into sustainability? We would recommend that all businesses interested in this area look into ISO 14001 certification. ISO 14001 is the environmental management standard,