Why should businesses care about sustainability?
Consumers are becoming increasingly aware of the environmental impact the companies they support have, going as far as to hold businesses accountable for their actions. Forbes reported that, as of November 2018, 92% of consumers would place their trust in a company that supports local or environmental issues. The move towards the eco-conscious consumer means businesses must not only face the challenge of increasing their economic growth, but also ensure they minimise their environmental impact.
Societal expectations are evolving, driven by access to information and the resulting shift in global trends. Whether the point of interest is climate change, food insecurity or resource scarcity, these global trends have a massive impact on the economic climate in which businesses exist. Resilient business strategies are those that evolve to find their foundations in eco-friendly operations and are adaptable to shifting external pressures. Achieving a business model that promotes sustainability is, therefore, not a simple task. The implementation of an integrated management solution, such as ENVIRX, serves to assist in the transition from traditional business practices to meeting sustainability goals and compliance.
ENVIRX enables organisations to manage their risk based material environmental impacts in an integrated manner, enabling GRI G4 en standard management and reporting requirements according to the processes defined in the ISO 14001: 2015 standard. ENVIRX uses the same dynamic framework to measure, trend and report on their impact area, i.e. materials, water, energy, biodiversity, effluents and emissions amongst others.
We have previously covered the benefits of such a system in our article – the importance of environmental management systems, but will provide a brief overview:
- Improves brand image
- Assists with gaining international compliance
- Maximises your resources
- Decreased audit costs
- Visible performance monitoring
- The proactive management of environmental risks and opportunities
Businesses that promote eco-friendly practices set themselves apart from their competitors. Successful economies are dependent on healthy ecosystems. Communities, and the companies that depend on them, are placed at risk when sustainability issues arise. Businesses are ultimately unable to survive without access to the resources and the consumers that keep them operational.
As stated by the World Wide Fund for Nature (WWF), the reality is that a transformational process towards sustainable business is necessary. Organisations need to be proactively involved in the long-term management of their business outputs and environmental impact. In the end, it is in the best interest of their supply chains and company as a whole.