Why You Should Make Your Business More Sustainable in 2020

By Mariliana Fotopoulou Thursday, July 2, 2020

Aside from the obvious benefits for the environment, being sustainable is proven to improve your company’s reputation and financial value, according to research by the Sustainable Business Network

We take a closer look at some of the top reasons you should consider adapting your business model to an environmentally friendly one below. Nowadays, in business, doing good means doing well.

Depletion of Resources

We all know that climate change is already in motion, that ecosystems have seen irreparable damage in the last decades, that entire species are being wiped out as they no longer have their natural habitats.

Resources are continuously being depleted, meaning that your organization may eventually not be able to find the materials it needs for its supply chain, production, or even daily operations. 

On a practical level, your organization may be unable to function sooner or later as more harm is done to the environment. Turning to renewable energy and eco-friendly materials in every aspect of the business increases your chances of being around for decades to come.

City Pollution and Destruction

If you think that nature is out of sight and out of mind, consider the area you live in, which is equally affected by pollution and climate change. There’s been an increase in natural disasters in the last decade, leaving large death tolls and destruction behind. It is no longer science fiction that this could be your office, factory, or colleague one day.

Furthermore, employees may suffer from pollution-related illnesses in big cities, like respiratory and cardiovascular diseases. With the ozone layer becoming increasingly thinner, skin cancer risks are getting higher, too. Protecting the environment means protecting ourselves.

Profitability

Besides the external factors discussed above, operating in a greener way is proven to bring a company nothing but benefits, including financial ones. Consumers are conscious about brands’ environmental impact more than ever and are willing to pay the price for a greener product. If you don’t adapt, your competition will, leading to a huge missed opportunity for your business. 

Additionally, it might initially seem like a big investment to change equipment on a large scale for sustainability. But, in the long run, it is more efficient as newer technology uses less energy, helping you save on electricity, gas, and other resources monthly. Many countries even have tax cut incentives for businesses that are going green, saving you even more on the costs side.

Attracting Top Talent

Showing that you are a business that cares about the planet goes a long way in improving your reputation. In turn, this is good for your employer branding, meaning how attractive your company is to potential candidates applying for jobs with you.

Top talent wants to work at top companies, so an effort to make your business greener means you could be employing some of the best professionals out there. Going green will help you make better decisions for your company, represent your brand more accurately, and make you more valuable overall.

Attracting Investors

Sustainability is the only future for business, so it is no surprise that investors look at factors such as a company's carbon footprint, water usage, and waste management when making decisions about who to bet their money on. 

Operating more sustainably, and even better, becoming a strong advocate for the environment through every action your business takes, would skyrocket your chances of getting noticed and appreciated in those investor boards.

Spreading the Motivation to Go Green

Every business looks to other companies for inspiration. By making more environmentally friendly choices and building a stronger reputation, companies will look up to you and follow suit. This can create a domino effect in the market, turning more and more businesses greener, and increasing our environment's chances to make it out safer and healthier.

No business exists in isolation from its environment. Companies that fail to take sustainability seriously and adapt will only become less relevant, thus less profitable.

Given all of the benefits that turning your business more sustainable brings, there seems to be no reason to hesitate.

About the Author


Headshot of author Mariliana Fotopoulou

Mariliana has an MSC in consumer analytics and business strategy. She has a special interest in fast-moving industries and big data.

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