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What Is Business Sustainability And Why Is It Important?

With positive benefits for attracting and retaining employees, boosting brand reputation among consumers, and helping to have a more positive impact, many businesses are looking at adopting sustainability practices. Find out more about business sustainability and its importance in this article.

Why is sustainability important to businesses?

Sustainability in business involves the strategy and actions a company takes to reduce the environmental and social impact it has. 1 The goal of sustainability is usually to meet the needs of the present without compromising the needs of future generations. 2 For example, companies can use deforestation-free paper that is 100% recyclable to meet their needs now while helping to preserve forests for the future. 3 A focus on sustainability can also provide a company with a larger purpose and new goals to focus on, which can help to improve public perception and company reputation.

3 Reasons why business sustainability is important

Environmental impact

Understanding your environmental impact can help your business save both energy and money. From switching to renewable energy to installing a smart meter, there are many ways your business can take steps to become more sustainable.

Decrease your reliance on finite energy resources such as fossil fuels and natural gas by switching to renewable energy. 2 Switching to a sustainable energy supplier can also help reduce your company’s carbon footprint. 4

Have a look at swapping out disposable, single use items for reusable, alternatives. For example, swapping out plastic cutlery and disposable cups for washable cutlery and mugs/glasses for the office kitchen. 3 You can also install a smart meter to help reduce how much energy your workplace uses and cut down on costs too.5

Reducing how much paper your company uses can also be an easy swap, especially when around 50% of business waste is paper products. 6 You can encourage your employees to switch to digital tools and software that reduces the need to print off physical copies. 3

Close-up of a worn blue recycling bin with the recycling symbol prominently displayed on its side.

Employee impact

Business sustainability can help attract and retain employees. According to an IBM survey of more than 14,000 adults across 9 different countries, 69% of the full global workforce are more likely to accept a job with an organisation they consider to be environmentally sustainable. 7 Environmental matters were shown to be significantly important to two-thirds of global survey respondents, too.


Consumer impact

It’s not just potential and current employees' thoughts on sustainability that are important. Governments, investors, employees, and customers are demanding business accountability, including actions addressing climate change. 1 IBM’s survey found that 84% of global consumers consider sustainability important when choosing a brand. 7 And 62% of consumers say they are now willing to change their purchasing habits to help reduce negative impacts on the environment. 7 These results show that sustainability is a top consideration for consumers and could be a key driver for earning long-term consumer loyalty and trust.

With demands from governments, investors, employees and consumers, it’s clear that sustainability is important for businesses to meet these expectations. Finding renewable sources of energy, adopting reuse and recycling mindsets, and finding resources with less of an environmental impact are just three ideas companies can put into action as they develop sustainably. 1 With more and more of the workforce wanting to work for sustainable companies and consumers looking to support sustainable businesses, integrating Green Business Practices into your business operations could not only help do good but also give you a competitive edge. 1

Read Nestlé’s Sustainability Goals to discover our sustainability practices, or learn about Sustainability for Small Businesses in our next article.

Sources:

  1. https://www.ibm.com/topics/business-sustainability
  2. https://sustainabledevelopment.un.org/content/documents/5987our-common-future.pdf
  3. https://www.wwf.org.uk/updates/top-20-tips-workplaces-sustainable
  4. https://www.forbes.com/uk/advisor/energy/green-energy/
  5. https://www.goodenergy.co.uk/business/insights/what-are-the-benefits-of-smart-meters-for-businesses/
  6. https://www.businesswaste.co.uk/your-waste/paper-recycling/paper-waste-facts-and-statistics/
  7. https://www.ibm.com/downloads/cas/WLJ7LVP4