Sustainability priority for many businesses

Contrary to the Chancellor’s rhetoric, business are embracing sustainability practices and policies. For many, according to the report Why are business leaders prioritising sustainability?, sustainability is an integral part of business strategy, helping to generate leaner, greener firms with competitive edge. Improving resource efficiency – by reducing energy, waste, carbon and water costs and consumption – is here to stay and will increase as more companies realise the benefits.

Improving the economy and implementing sustainable practices can work hand in hand. Hardly surprising when you consider the economic realities of increasing energy and transport costs, material scarcity and uncertainty of supply. Combined with the impacts of climate change where cold, wet or hot weather all present different challenges to businesses trading at home or abroad.

Customer pressure is influencing the need to report on sustainability credentials – customers are the one group more likely to read sustainability reports, above shareholders, employees or investors. As such they wish to see real results and improvements, rather than being greenwashed. And with the need to maintain customer satisfaction high on any business’ agenda this will continue to drive the sustainability debate.

The report has been published by Edie, Sustainable Business and Temple Group

As expected, in many areas smaller businesses are doing less in this field, they have less resources but perhaps also feel it’s not for them. As we’ve already highlighted the large corporates are already asking firms within their supply chain how they’re responding to reducing their carbon footprint in order to have a holistic, sustainable supply chain as possible. In addition there are still savings to be had, with Defra stating that UK businesses could save £23bn a year by using resources, such as water, energy and raw materials more efficiently.

We shouldn’t just concentrate on the mitigating the risks – what are the opportunities that arise from climate change? These could be realised across a number of areas, such as the agricultural sector,developing new crops or products, tourism or the construction industry retro-fitting energy resilient buildings.

There are a lot of advantages and reasons to integrate sustainability into your business today – improving your bottom line and boosting the economy being just two.
If you are looking to implement sustainable practices into your business but are unsure where to start email janerayner@luluconsulting.co.uk

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