Growing demand for sustainable industrial, commercial and development practices is quickly changing the way the world does business.
New technologies, as well as shifting priorities and new agendas, are needed in order to meet and overcome some of the biggest modern challenges.
What is Sustainability?
Sustainability is a concept that allows organizations to exist, function and even expand the scope of their operations without depleting non-renewable resources or doing excessive harm to the natural world.
Sustainable business practices are essential for dealing with threats caused by climate change, species depletion or pollution. Investing in sustainable infrastructure now could allow businesses to have far higher costs these problems may result in should they be ignored.
Why is Sustainability Important?
According to the GetSmarter Sustainability Report, it’s important to understand the crucial business benefits that sustainability offers. Business practices that are unsustainable have the potential to quickly exhaust precious natural resources, destroy ecosystems and natural habitats or to accelerate the process of climate change.
Sustainability is essential for ensuring clean air and water as well as protecting the natural environment and preventing potentially-catastrophic consequences like widespread extinction or ecological collapse.
The 3 Pillars of Sustainability
The core tenets of sustainability are of particular relevance to corporations, businesses and larger organizations whose actions and operations have the potential to make a greater impact.
1. Environmental Protection
The most often discussed aspect of sustainability – protecting the environment, is an important responsibility. Environmental protection involves finding ways to reduce carbon footprints, minimizing waste and pollution or finding sustainable alternatives for both materials and workflow processes.
2. Social Development
Business practices that are less than ethical can cause no end of problems. Social development efforts typically focus on treating employees and associates in sustainable ways or improving a business’s standing within the surrounding community. Providing staff and associates with fair pay and treatment is essential for ensuring that employees are able to create and maintain a safer workplace and social environment.
3. Economic Development
Reinvesting profits and directing revenue in order to fund sustainable development is another essential concern. While many businesses may find it challenging to strike the right balance between profitability and investing in their own future economic development, doing so can be an issue of paramount importance. Ensuring that future growth, expansion and development can be handled in a sustainable manner is never an issue that should be taken lightly.
Adherence to the core concepts of sustainability can help to ensure that businesses are able to make more effective choices and direct their actions in a way that will have the most impact. Incorporating the three pillars of sustainability into either a planned or existing business model can lead to long-lasting benefits that no business can afford to ignore. In addition, it will also help you to avoid being a victim of greenwashing.
Investing in sustainable business practices means investing in our shared future. Businesses would do well to take further action in their efforts to curb carbon emissions, decrease their consumption or resources or to lessen the impact that their operations may be having on the natural world.