More and more companies – both big and small, are evolving to being a sustainable business. The demand for sustainability is higher than ever, since there are many humanitarian and environmental issues that are slowly reaching the point of no return. With that said, enterprises are taking initiative in these efforts as leaders for positive impact in the world. At the same time, these companies are also now aware of the true effects of some of their practices. Being sustainable has many definitions, but they all have the same goal – which is to work towards making the world a better place to live in the future.
What makes a business sustainable?
Being a sustainable business means taking into consideration the conditions of the earth, the conditions of human beings, and the financial costs. For example, businesses that involve natural resources should create efforts of rebuilding what they used. A sample of this is how Starbucks gets more than 90% of their coffee beans from small time farmers, and in return, they provide them with fair wages, amazing working conditions, and a lot of motivation of encouragement. Sustainability is very important now, since resources are slowly depleting and poor working conditions still remains as a big issue worldwide.
A positive impact that goes both ways
Being sustainable is also highly beneficial to the business implementing it as well. First, it conveys a very positive image to the public – especially if they put their sustainable efforts at a grand scale. This gives a softer and more trustworthy image for the company. Additionally, research says that employees from these businesses last longer and have a better morale and they have a lower reputation and financial risk. This also means longevity for the company, as these solutions have good long-term effects and they will contribute to a healthier economic system. A lot of stakeholders are definitely on board with this shift in businesses as well, so overall, it is a win-win situation between enterprise and beneficiary.
In terms of environmental factors, being sustainable has a lot of definitions as well. For grocery giant Walmart, they are currently targeting zero for their waste production. Walmart now has a “Zero Waste To Landfill” Program wherein they try to reduce their waste by adjusting their plastic bag use, implementing responsible packaging, and having a full blown recycling program. The results have been stellar. Their plastic bag use has been reduced to 38% and they have been sourcing their goods from other sustainable enterprises as well. They even have a program where they can distinguish their suppliers in terms of how sustainable they really are. If they don’t make Walmart’s standards, they won’t be acquired at all.
Thankfully, being sustainable or making sustainable efforts a priority is a thing done by more and more companies as time progresses. If all the big magnates of the world work towards a singular goal, then there will be a tremendous and very positive impact to the world. What should always be kept in mind is the core of being sustainable – preserving the value of humanity and environmental concern.