What is corporate sustainability?

Companies everywhere are facing the pressure of doing more with less. Sustainable practices can help you make the most of your resources, reduce waste, and lower costs.

In some industries, staying on top of requirements is a must for staying in business. Adhering to environmental regulations may help businesses avoid fines and other issues, while also demonstrating good corporate citizenship.

Change is inevitable, but you can take steps to manage the concerns that come with it. Sustainable operations help mitigate risks related to climate change, resource scarcity, and different consumer preferences. According to PwC research from 2021, 76% of customers plan to stop doing business with companies that don’t treat employees, their communities, and the environment well.

A commitment to sustainability can improve a company's image and attract top talent. If you can show that you’re making a positive impact on your team members, the community, or even the world, it may be easier to pull in people who share the same vision to your organization.

By helping you reduce costs, minimize risks, and tap into new markets, sustainability can contribute to a company's growth. It’s a win-win. Better for the planet and for your organization’s bottom line. A research report from Accenture shows that companies that merge high levels of innovation with sustainability and trust outperform peer companies in their industry, with 3.1% higher operating profits and greater shareholder returns.

This may include implementing energy-efficient lighting, promoting a paperless workplace, and encouraging employees to use public transportation or carpooling. These initiatives not only reduce resource consumption but can also save money on energy and material costs.

By choosing suppliers that prioritize environmental and social responsibility, you can promote sustainability throughout the entire value chain, which reduces the overall impact on the planet and society.

This is one area that many organizations are focusing on, as 57% of companies have started using energy-efficient or climate-friendly machinery, technologies, and equipment, according to the Deloitte 2022 CxO Sustainability Report.

Your organization can invest in innovative carbon capture technologies to reduce greenhouse gas emissions or support projects that sequester carbon, like reforestation initiatives. You may also participate in carbon offset programs, which compensate for emissions by investing in verified projects that reduce greenhouse gas emissions elsewhere.

To create a culture of sustainability, you can offer training programs and workshops on sustainable practices, encourage employee participation, and promote a company-wide sustainability policy. This can help inspire employees to contribute to your long-term goals.

Transition your fleets to electric or hybrid models to reduce emissions and reliance on fossil fuels. Additionally, investing in autonomous vehicle technology can optimize route efficiency, further reducing environmental impact and operational costs.