Slowly, businesses are embarking on a journey to sustainability as they seek to improve their climates and environment in the hopes of driving meaningful consumer behavior and change.
For many small and large companies, Sustainable Goal Development has been a stronghold. Brands and companies that are concerned about climate change are more attractive to consumers. However, investors have become more attracted to the innovative technology that is helping businesses transform into a more green and ethical business model.
Within a few years, organizations have developed a variety of resources and tools that can help businesses reduce their carbon footprint while being more eco-conscious in their practices and operations.
Recent data shows that 67% percent of companies polled by Deloitte have begun using sustainable materials in products.
In addition to these efforts, the Science Based Targets Initiative’s (SBTi), research and development, works with more than 3400 companies around the world towards decarbonization. They also aim to reach SBTi targets within the next 10 years.
Globally, in many industries, from startups and mass corporations to large multinationals, executives are beginning to see the value of sustainable business practices. This not only helps the planet, but also keeps them relevant in a competitive market.
New businesses and startups must be aware of the importance of sustainability policies. Making the right choices can present challenges. You need to be able to navigate these roads.
Tips to Build a Sustainable Business Model
Here are five things that business owners should think about when building a sustainable model for their business.
Make sustainability your core principle
To make a business more sustainable and environmentally-conscious, its owners and executives have to take the time to integrate these efforts into their core business model.
Instead of reinventing the wheel, think about what other businesses are doing and how they have been using it. As you adapt, ensure that the environmental and sustainability policies are integrated into the business framework.
These policies must be implemented throughout the business. Also, ensure that all employees are trained on the ethical principles of the company.
Get Realistic Vision
While it can seem impossible to reach full-scale sustainability and even net zero at first glance, it is possible in the bigger scheme of things. However, small startups might find it a little too ambitious. Even for large corporations, it is not always possible to go 100% green in just a few years.
You can take some time to reflect on the realistic green goals you are looking to achieve and create a road map to help you and others achieve them.
You will face setbacks but they shouldn’t be a hindrance to your efforts. It is important to remain focused on the bigger picture and what you are trying to achieve.
Take The Environment into Account When Planning
Plan for the environment when planning for a product or service range. You should start by looking at what materials you are using and whether there is a sustainable alternative.
To cut down commute time, you might consider implementing a remote- or hybrid work program for your employees. Perhaps you are looking to reduce your energy and water use but don’t know where or how to get started.
There are many entry points that can help you discover greener alternatives. But the most important thing is to look at how these efforts will drive the business forward, and help you reach your sustainability goals.
You’d be amazed at the small things that can make a huge difference.
American employees print approximately 10,000 copies annually. This number is per employee. Businesses spend approximately $1,200 per employee when you consider printing costs.
This is not only expensive, but also a wasteful exercise.
It not only saves money and time, but also cuts down on paper use in the office. Although it’s something you can do, these little changes can make a huge difference over the long term.
Consider other areas of your workplace or business where you could make small improvements that will help you reach your sustainability goals. Look at areas where resources are able to be used to their full potential without the need to replace them all the time.
Think about the Conscious Consumer
Consumers are becoming more conscious of how companies conduct themselves in relation to their environment transparency. We will see more people support brands that strive to improve the quality of our environment in the coming decade.
A study showed that 66% consumers would spend more if their products were sustainable. 81% of respondents believe that companies should strive to improve the environment through more progressive sustainability goals.
This is just one of many such studies that demonstrate that consumers and not just younger people are increasingly aware that businesses need to take control and be more eco-conscious.
End of the article
There are many businesses that can improve the environment or be more connected with sustainable development goals. For small businesses, the constant need to adopt more sustainable business practices throughout the value chain is a key determinant of their success.
All businesses should evaluate how they are contributing to the greater scheme of things.