What Is Sustainability And Why Should Your Business Be Focusing On It?
Sustainability is a word that is used a lot nowadays. As the impact of our actions on the planet become clear and the climate crisis reaches headline news, everyone from individuals and businesses are looking to reduce their carbon emissions and the damage they are doing to the environment.
The term sustainability refers to how businesses approach this and the efforts that they take to reduce their impact on the world. What exactly does that mean, though, and why should your organization be focusing on it? In this blog, we thought we would take a closer look at those questions and also explore why it is so important to us here at Axiom Global Technologies.
What is sustainability in business?
Before we take a look at the benefits of sustainability and why your organization should be focusing on it, it is first important to understand exactly what it means. In its simplest form, sustainability in business means the long-term approach that they take within their organization to create a positive impact on the social, ecological, and economic environments that they operate within.
This means developing an Environmental, Social, and Governance (ESG) plan that works to reduce their carbon footprint. As giving-back becomes more important, many organizations are beginning to adopt what is known as the ‘triple bottom line’. This is the process of focusing on more than just their earnings, and instead looking at the three ‘P’s,’ People, Planet, and Profit.
Why is sustainability so important for businesses?
As climate change and the need to look after the world we live in becomes increasingly more important, the need to be more sustainable in what we do is growing. The planet’s natural resources are dwindling, and demand for food supply and energy have never been greater. Technology has also transformed the world, accelerating globalization.
All of this is changing how individuals are viewing the world and the businesses that they work with. For employees, 71% of job seekers have stated those companies which are more environmentally sustainable are far more attractive. Of course, it is not just about employees, though. Consumer trends are also changing, particularly within the younger generations, with one study finding that 80% of consumers are now willing to pay more for goods that come from a sustainable business.
This means that adopting sustainable practices into your business can provide you with an array of benefits, including:
As mentioned above, a rising number of job seekers are looking at the sustainability of a business when deciding where to work. The more sustainable that your brand is, the more attractive you will be, which will allow you to secure the very best talent.
It is not just about attracting new employees, though. Research has shown that employees at sustainable businesses tend to have a greater level of satisfaction and higher productivity. In turn, this helps to reduce turnover rates.
Equally, with consumers willing to pay more for products and services from sustainable brands, it can help you to maximize your profits.
Being able to showcase to people that you care for the environment and communities that you operate in is a great way to help you improve your public image and reputation. ESG is fast becoming a primary concern for consumers, so focusing on yours will help you to build strong connections with stakeholders and secure a larger market share.
Adopting a strong ESP program can also help businesses to save money in the long term. Investing in sustainability can help to ensure that things such as work vehicles meet air pollution requirements and are not subject to fines while reducing waste can improve efficiency and reduce processing costs.
How can businesses be more sustainable?
There can be no denying that becoming more sustainable should be a priority for every business, no matter its size. That being said, what can you do to improve your Corporate Social Responsibility (CSR) and lower your impact on the environment?
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The first thing that you should do is to decide what it is that you want to achieve and set goals on when you will achieve them by. Adopting a sustainable approach to your entire operation can be a huge process, so it is wise to break these goals down into smaller, more achievable targets to begin with.
One of the best ways to lower your impact on the environment is to explore your current energy consumption. There are a wide range of methods you can use to reduce your usage, such as switching to low-energy lighting, turning off appliances at the end of the day, and improving the efficiency of your windows and doors.
If possible, you could also explore the possibility of switching your energy supply to a renewable source. Utilizing solar, wind, or geothermal energy suppliers can significantly reduce your carbon footprint.
Another great way to enhance your CSR strategy and become more sustainable is to focus on reducing your waste. Plastic pollution is one of the biggest threats to the environment currently, so working to reduce the amount you are throwing away should be a main focus.
Of course, there are many other ways that you could reduce the amount of waste you throw away. Implementing a strict recycling program is a very effective solution, as is utilizing refurbished electronic equipment.
Switching to local partners for your goods and services is a great way to improve your sustainability and ESG program. Not only will you be able to support businesses in your local community, but it will also mean that your goods will not have to travel as far, reducing air pollution.
Of course, it is not just about improving your own operations. Partnering with an environmental cause you care about and donating a portion of your profits is a great way to make a real impact on the planet and showcase to customers and employees that you are committed to improving the state of the planet.
Walking the walk at Axiom Global Technologies
Here at Axiom Global Technologies, sustainability is incredibly important to our entire team, as our CEO Mohit Arora explains:
One recent initiative that we have launched is a partnership with One Tree Planted. This means that for every Axiom candidate that we place, 15 trees will be planted. Trees are an essential part of life, working to help us in an array of ways:
Air: Trees are crucial in helping to absorb harmful greenhouse gases from the air, such as carbon monoxide, carbon dioxide, and nitrogen oxides. The more trees we have, the greater their impact on reducing the effects of climate change
Water: It is not just the air that trees help with. They also absorb rainwater, which helps to prevent disasters such as landslides and floods from occurring, with the UN Food and Agriculture Association estimating that a fully-grown evergreen tree is capable of intercepting over 15,000 liters of water every year.
Biodiversity: Trees are also home to hundreds of thousands of animals, insects, and plants. In fact, over 80% of terrestrial biodiversity in the world uses trees as part of their habitat.
We are not just committed to planting trees, though! We also have a range of other programs running. Every employee undergoes training to ensure they know how they can reduce their waste production and enhance efficiency. Axiom is also dedicated to supporting communities both in the local area and beyond. Every quarter, we run a clothing drive to donate any unused clothing in our wardrobes while we also make a yearly donation to the Red Cross Wildfire Relief Fund. This program helps to provide essential shelter, food, and supplies to displaced families. It also helps support emergency responders and the creation of recovery plans.
As you can see, sustainability plays a vital role in everything that we do here at Axiom Global Technologies, and if you would like to find out more about what we do or how we can help you, get in touch today!