The benefits of adopting a sustainable business model
Written by Ray Stephens
Sustainable development relies on the three Ps – People, Planet and Profit - working in harmony with each other. In simple terms, this means that businesses must of course be economically profitable to survive, but not at the expense of their impact on people and the planet.
It is easy to think that reducing the negative aspects of business operations is something that only larger businesses need to consider, since their share of pollution and CO2 emissions is much greater than a smaller company. It is also reasonable to conclude that businesses in manufacturing and construction, for example, bear the responsibility of reaching carbon net zero targets more heavily than an office-based service organisation.
However, small and medium-sized businesses have a crucial role to play in the UK’s CO2 emission targets. That’s because smaller firms (and the majority being in the service sector) make up over 99% of all the UK’s 5.9 million enterprises – and they are responsible for half of business-related greenhouse gas emissions. However, according to the British Standards Institution (BSI), only one in 5 small business have committed to net zero.
So what are the benefits of committing to carbon net zero?
Companies and organisations committed to the credible net zero targets are demonstrating that creating a climate-secure world goes hand-in-hand with responsible and successful business operations. Not only will the company be taking responsible business action, there are also multiple other benefits:
- Boosts your profitability – doing the right thing for people and planet nearly always helps save money, either by reducing waste, using less materials or saving time
- Improves investor confidence
- Drives innovation, finding better ways of running the business, new design or new products
- Reduces regulatory uncertainty
- Strengthens brand reputation and trust amongst customers
- Improves employee acquisition, engagement and retention
- Makes you stand out from your competitors
Research has shown that 76% of UK consumers are calling out for companies to take initiative to reduce their environmental footprint and, across Europe, 75% are willing to pay more for sustainable products. Over half of Gen Z workers (56%) say putting forward sustainable and eco-friendly initiatives to leadership, and seeing these come to fruition, would make them more motivated at work, in turn driving productivity, loyalty and talent retention.
What’s your role in all of this?
Good question! You might not have the opportunity or influential platform to launch a revolution in your organisation’s corporate social responsibility. However, using the benefits listed above, you can now start to exert some leverage on management and other people of influence in your organisation to start on that journey to sustainability. Every company starts somewhere with carbon net zero – why not with ‘greening’ their website? We can help, whether you are an existing customer or are looking to work with a new agency with expertise in sustainable web design and build.
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