5 Key reasons for a Sustainability Strategy:
- It’s good for your bottom line
If properly implemented, sustainability canhave positive financial impact – there’s a reason it’s called the green economy. This typically starts out by optimising resources consumed and is extended to efficiencies (i.e. energy, water, waste). Most businesses have space to become more streamlined and to optimise their operations. There is a misconception that sustainability costs. Quantifying impacts by looking at ROI (return on investments), revenue generated and savings achieved help show this clearly.
- Supply Chain
The easiest way to maximise impact is to work together with your stakeholders. There is significant value in developing quality relationships that allow dynamic collaboration with key stakeholders within the supply chain. Working with the supply chain opens up opportunities to further engage with experts to help build tangible green business outcomes. The benefits range from resilience to financial opportunity.
- Stand out from the crowd
There is growing pressure from international markets. Focusing on sustainability and incorporating it into your core business and values helps you stand out from the crowd. It’s a way for customers to see a different value-adding side. The brand recognition also helps generate a fair amount of excitement – once a sustainable value-add has been realised, what else will they do.
- A great place to work
Having a sustainability strategy means having a plan. More and more employees are looking for a place they belong, a company with a purpose that shares their value system. A company with a strong sustainability strategy can be a good drawcard. It’s a way to get people excited about changing and improving the way they do things.
- Innovation starts at home
A good sustainability strategy goes hand-in-hand with a strong innovation strategy. Opportunities around sustainable innovations abound. There is a growing shift around topics like packaging innovations, alternative materials, resilient supply chains. Additionally, extending the “great place to work” includes developing intrapreneurs that bring significant value and ideas to your organisation.
The key takeaway: There is a misconception that sustainability costs. While there is a need to look at the affordability of certain types of solutions, sustainability in itself is all encompassing. It has an overall positive impact on the sustainability of your business. You don’t need to spend money but you can definitely make money from it.
About the author
Jaisheila Rajput is Founder & CEO of TOMA-Now | Tomorrow Matters Now. She strongly advocates the use of green economy business models and actively supports organisations looking to rapidly innovate their business.
Jaisheila holds a PhD in Chemistry from the University of Cape Town.