The planet is in danger – it’s something that everyone knows, as the effects of climate change are becoming increasingly evident. But that isn’t all: scientists also say that further catastrophe could follow unless immediate action is taken. According to the Breakthrough National Centre for Climate Restoration, in the next 30 years, humanity could face an existential threat due to a planet that has become very sick. In such a context, everyone needs to play their part in protecting Mother Earth, with consumers believing that businesses are just as responsible as governments to create positive change on the planet. And this mindset is seen in the behaviour of consumers, as over the past five years, the search for sustainable goods has increased by 71%, with more and more people seeking to engage with brands that take CSR seriously. In fact, the numbers speak for themselves when it comes to millennial buyers, as a survey showed that 75% of them make purchasing decisions with sustainability in mind.
This trend is seen not only in first-world countries but also in developing economies, with consumers believing that businesses should commit to taking care of nature. Considering that this trend is becoming increasingly prominent, it’s time for businesses to really pay attention to it and learn from other companies that are prioritizing social responsibility because this can have a huge impact on their bottom line.
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No more greenwashing: Businesses facing growing scrutiny for sustainability claims
As sustainability has become more important than ever, some companies have been taking advantage of this shift to make a profit through false green marketing tactics. This is known as greenwashing, which is unfortunately practised by business owners in popular industries like cosmetics and clothing. For instance, back in 2019, H&M received accusations of greenwashing after falsely claiming that they provide clothing made from recycled materials when, in fact, they are made with synthetic and non-organic materials.
Greenwashing is problematic not only because it shows a lack of business ethics but also because it hinders everyone else’s efforts to reduce greenhouse gas emissions. However, this year will likely be a turning point for addressing greenwashing, with consumers becoming more and more discerning and requiring evidence for business’s sustainability claims. And since many consumers are active on social platforms, they won’t hesitate to be vocal about a company’s unethical behaviour, which will only hurt the business’s image. But the consequences are actually worse because businesses are now being taken to court for misleading consumers with their claims. That being said, it becomes paramount to take responsibility for your business operations and provide transparency throughout the entire supply chain, giving consumers peace of mind.
Rethinking business operations: How can your company become more sustainable in 2024
At this point, it’s probably clear that you can only achieve long-term success if you take sustainability seriously. However, as you navigate this shifting landscape, you may not know where to begin, and this is why below, we present a list of strategies you can adopt to make a positive impact on the planet.
Evaluate the current impact of your business operations
Obviously, you cannot become more sustainable if you don’t have a clear picture of your current carbon emissions. Look at things like transportation, energy consumption, waste management and product lifecycle, and use this data to measure your progress when implementing sustainability measures. If necessary, seek guidance from a sustainability consultant who can support you to conduct a detailed emissions assessment.
Reconsider your supply chain management strategy
After evaluating your business’s operations’ impact on the planet, it’s time to take steps to reduce your carbon footprint, and supply chain management is a great place to start. Consider developing a strategy that lowers the effects of your supply chain’s operations—this can include aspects like materials sourcing, logistics, end-of-life disposal of products, and so on.
Reduce your business waste
An effective step that businesses can take to become more sustainable is to reduce their waste, which can have tremendous benefits, ranging from energy savings to increased productivity and efficiency. A great way to handle the waste that your business generates is to invest in a machine for baling waste cardboard, allowing you to take advantage of many benefits for your company, like saving space, money, and time, and of course, improving your sustainability practices in an efficient manner.
Create a circular recycling program
Why implement an end-to-end circular recycling program? Because it will help you promote a culture of sustainability in your company and encourage employees to contribute to your goal of protecting the planet. Such a program will impact all aspects of your business while also boosting stakeholder satisfaction and the image of your brand.
Figure out how your business can become more energy-efficient
Embracing energy-efficient practices is another step you can take towards becoming a green business, and this can involve choosing energy-saving technologies, encouraging employees to engage in energy conservation behaviours, or optimizing building systems. Whatever actions you may take, reducing energy consumption will not only make a difference on the planet but will also reduce your company’s operational costs, so it’s a great win-win!
Choose sustainably sourced products
Lastly, no matter your industry, you can enhance your sustainability efforts by option for sustainably sourced materials and products. In other words, you want to collaborate with suppliers who care about the planet as much as you do and incorporate green practices in what they do. Responsible sourcing is an aspect that consumers pay attention to before buying a product, so it’s essential not to overlook it, as it will serve as proof that you are committed to sustainability and help you attract eco-conscious buyers.
The bottom line
As you can see, consumers are making sustainability a priority, and your business should do the same—otherwise, you risk falling behind. Green business practices are no longer just a buzzword; they are a necessity in a world that is increasingly threatened by the effects of climate change. So, it’s imperative to hold yourself accountable for how your business operates and take action today to create a better future for the planet Earth.
