With climate change receiving growing amounts of attention, many of us may believe that businesses, as well as individuals, are taking the sustainable challenge equally as seriously. But, the reality is that a lot of companies and businesses are still lacking the drive and determination to make any significant changes when it comes to their business model.
Whilst global warming won’t disappear overnight, no matter how urgently we address these issues, the truth is that businesses should be making these changes as soon as they can. As humans, we don’t want to face these issues or change our ways, which then makes the problems continue.
Taking steps towards more sustainable business development doesn’t have to hinder a business bottom line, but instead, innovations are continuing to provide businesses with new ways to change their practices and adopt more eco-friendly and sustainable business operations.
A growing trend amongst consumers is a desire to support companies which share the values of our society as a whole and with more and more opportunities to safeguard the natural resources of the planet now widely available to businesses, they now also have a larger customer base who are invested in their sustainable efforts.
The Issues With Modern Business
Whether you like it or not, we are all polluting the environment in some way, but given that businesses are consuming far more energy and are responsible for larger amounts of waste, their carbon footprint is naturally bigger as well. When large companies fail to notice the significance of their contribution to waste and pollutants, it poses a hugely serious threat.
A report was published which highlighted the fact that just 100 companies are at the root of the source for causing more than 70% of the world’s total greenhouse gas emissions since 1988 and these companies were producing enough emissions to have a critical impact on climate change. Whilst most businesses aren’t polluting nearly as much as giants Shell and Chevron, it is clear that a single business can have a huge impact on the environment.
One of the biggest reasons why many companies are no longer fearing an excessive drain on their resources is down to the innovations which are available to make it easier for companies to become green. Sustainability is a huge focus for many businesses, especially those who sell products. Making changes to the production, packaging and shipping is an easy way for brands to become more eco-friendly. Across a wide range of industries, noticeable changes are being made and long-standing issues are being combated thanks to new innovations.
Beauty brands and products especially are changing the way in which they produce and package products, with more single-use plastic being used in this industry than any other. Some brands, such as Wish Upon A Sparkle, are releasing new product ranges with a sustainable focus to appeal to a wider audience and to become a more eco-friendly brand.
A circular economy, where individuals and companies alike, are reducing their waste and reusing products in order to become more available, whilst new innovations continue to combat the barriers, both practically and economically.
As always, the future is uncertain, but the implications and damage that climate change is having on our planet combined with increasing populations, businesses must expect the unexpected. Companies must adopt a more structured approach in order to consider what the future is going to hold when it comes to sustainability and it’s time to recognise that this is important. When it is properly incorporated into a business plan, sustainability offers a huge potential value for a companies competitive future.
Want to make your startup journey smooth? YS Education brings a comprehensive Funding Course, where you also get a chance to pitch your business plan to top investors. Click here to know more.