Suppose you’re a business owner who has completed an online MBA AACSB. In that case, you’ll know as well as anyone that as our planet becomes increasingly polluted, more focus is being placed on how businesses can operate more sustainably.
Why? The aftereffects of the production, transport, and waste disposal associated with businesses are hugely detrimental to our environment. But if that’s not enough motivation, prioritizing sustainability is not just good for the environment. Being a sustainable business is also good for the bottom line. Studies have shown that 62% of Gen Z and Millennial consumers prefer to shop sustainably, and will choose sustainable businesses over companies with less eco-friendly practices.
Are you keen to learn how to implement sustainable practices in your business?
Stay with us to find out more.
What Are Sustainable Business Practices?
If you’re a business owner, you need to understand the implications of not running your business sustainably. So, if you’re keen to make a positive impact on the environment, some of the most recommended sustainable business practices to implement include:
Source and Manufacture Your Products Ethically
Want to make a difference to the environment? You must learn to source and manufacture your products ethically and sustainably.
For example, avoid utilizing cheap labor. Central to this is sourcing an ethical manufacturer – one who utilizes eco-friendly and sustainable methods to produce their goods.
Most important? They will consider the environment in their daily operations, and do all possible to reduce their carbon footprint when manufacturing products.
Use Renewable Energy to Power Your Workplaces
Whether your business operates out of a corporate office, a factory, or another type of manufacturing and production facility, consider using renewable energy. This means utilizing and employing greener utility providers – particularly for resources such as gas and electricity.
Currently, renewable energy generates 20% of U.S. electricity. If we want our businesses to be truly sustainable, this percentage needs to grow. The good news? The U.S. government’s energy department predicts our overall usage of renewable energy will continue to grow exponentially, into the future.
Make Sure Your Packaging is Sustainable
Yes, you’ve sourced your products ethically and ensured that your manufacturers engage in eco-friendly practices to produce them.
But what are your products packaged in? Is your packaging sustainable? Does it utilize recyclable, biodegradable, or compostable materials? If not, the amount of toxic waste your packaging will be generating is major.
According to the United Nations, plastic pollution is a global problem. Indeed, over 2,000 garbage trucks of plastic waste are dumped into the ocean every day. The harm this is doing to marine wildlife is insurmountable. This can be avoided, or at least lessened, by businesses utilizing recyclable, sustainable packaging instead of generating even more plastic waste.
Engage in Corporate Social Responsibility Efforts
Finally, businesses can make a dramatic environmental impact by focusing on engaging in corporate social responsibility efforts. What does this mean? For one, it means giving back to charities that support the environment. Environmental Not For Profit organizations – such as the World Wide Fund for Nature, or Greenpeace, for example – are always willing to take donations from businesses.
Another way to give back? Consider implementing a workplace volunteer leave initiative for your employees. Encourage them to utilize this leave to assist in supporting environmental charities. It might be a clean-up the beach day, or another type of working bee. Whatever the cause, as long as it supports the environment in a worthwhile way, it can make a difference.
Want to be an ethical, eco-friendly, and sustainable business? Your morals are in the right place.
By making small steps in a more environmentally conscious direction, your business could have a hugely positive impact on our collective carbon footprint.
How? First, ensure that you source and manufacture your products sustainably – sourcing your products from ethical manufacturers who consider their environmental impact. Next, consider using renewable energy sources to power your place of business. Just as importantly, package your products in sustainable, recyclable packaging. And finally, engage in corporate responsibility efforts to give back to environmental charities.
By taking these steps, you can change the future of sustainability in business.
