How and Why to Achieve Sustainability for Business

By Anne Shaw
The Hartford Small Biz Ahead | Originally published: June 21, 2023

Sustainability has gained attention in the business world. An increasing number of customers feel that businesses should be held responsible for their impact on the environment. And many customers make purchasing decisions based on whether a business is eco-friendly.

Staying informed on business trends, including sustainability, is essential to your success as a small business owner. To keep you up-to-date, we’ll answer the following questions about sustainability for business:

• What is sustainability in business?
• What is a sustainable business?
• Why is sustainability important in business?
• How can your small business be more sustainable?

What Is Sustainability in Business?

While “sustainability” may seem like a buzzword, it’s much more than that. In a business context, sustainability focuses on a company’s long-term impact, value and lifespan—all of which become intertwined. When organizations create a sustainable mission, their business practices shift toward low- to no-harm operations. For example, they may shift their manufacturing process to produce less carbon emissions. Many eventually go a step further, creating environmentally sustainable missions that actually improve the environment and community.

In a time when consumers are more aware and mindful of their own environmental impact, people often seek out like-minded sustainable businesses. Your company’s approach to sustainability may even become a competitive edge in a crowded marketplace.

What Is a Sustainable Business?

Sustainable business initiatives look different depending on the company and its industry. Some choose to reduce their environmental impact by focusing on more energy-efficient facilities or moving entirely to renewable energy. Others may look for efficiencies in their supply chains. For instance, businesses may choose logistics providers that transport cargo with a fleet of energy-efficient hybrid and electric vehicles. Or they may audit their suppliers and work more with ones that maintain a lower carbon footprint.

Sustainability initiatives often go hand-in-hand with a company’s values and goals. Take LEGO Group as an example. According to its mission statement, LEGO aims “to be a global force for learning through play.” With this child-focused mission, it makes sense that the company wants to maintain a healthy world for children’s futures…[MORE]

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To read the entire article by Anne Shaw at The Hartford Small Biz Ahead website, visit: How and Why to Achieve Sustainability for Business