In today’s rapidly changing economic and environmental landscape, the sustainability of companies has become a critical focal point for business leaders to ensure future success. From reducing carbon footprints to optimizing resource usage, the journey toward sustainability encompasses various dimensions. This article will explore key strategies that leaders can employ to ensure the longevity of their business.
1. Create a More Transparent Supply Chain
In today’s age of more conscious consumers, having a more transparent supply chain is a must. However, this isn’t just about customer concern for quality and safety concerning the products they are buying, they also want to know the origins of the goods to ensure the product is also ethically and environmentally sustainable.
Building a more transparent supply chain not only boosts customer loyalty but also helps you become a more sustainable business as you’ll have to start being more mindful about how your goods are sourced and manufactured. Procuring materials through fair trade practices, for example, not only ensures your goods are ethically sourced, but fair trade practices are also often mindful of environmental impacts.
To do this, you’ll need to develop strong working relationships with suppliers. This requires consistent, open communication so you know where your goods are coming from and ensures your suppliers are following fair labor and sustainable practices.
Additionally, transparent supply chains can help companies get ahead of regulatory changes. Environmentally and socially sustainable supply chains will eventually be a requirement with governments starting to hold businesses more accountable. So by building a more sustainable supply chain now, you can get ahead and ensure the future of your business.
2. Employ Building Information Modeling Technologies
Building information modeling (BIM) technologies are all about combining design with data to help businesses manage their facilities more efficiently and sustainably. For example, design and construction data can be used to improve operational metrics like energy consumption. By looking at the as-built data of a building, which outlines how the HVAC should be operating, you can identify potential issues and determine the best way to solve them before energy costs get out of hand and negatively impact carbon emission rates.
Another way BIM technologies can be used to make a facility more efficient and sustainable is by assisting with space management. For example, if your building is only 50% occupied then you are likely wasting resources, such as spending too much money on heating and cooling. By analyzing this data, you can come up with more efficient solutions to make the most of the space you have.
3. Offer Remote Work Options
As an add-on to the previous point, if you find that your space is not being used efficiently because you have more space than you need, it might be worth considering downgrading or looking into offering remote work options.
A smaller space will naturally consume less energy, but having your employees work off-site, such as from home, can be even more efficient and help you avoid wasted resources and unnecessary energy consumption. Not only do you reduce operational costs and energy consumption by going remote, but it also means your employees won’t have to commute as often, which can help reduce carbon emissions from transportation.
4. Be Mindful of Spending on Business Assets
Overconsumption of unnecessary products is a major contributor to carbon emissions. Unfortunately, it’s not uncommon for companies to develop bad spending habits out of convenience.
For example, when a business asset breaks down, such as a certain piece of equipment, it’s not uncommon for businesses to simply order a new one to make things easier. However, it’s more sustainable if the asset can be repaired instead of replaced.
So to avoid unnecessary spending and wasting resources, it’s a good idea to develop a quality asset management program. Data tools can help in this regard, such as asset management software and maintenance management systems, provide asset monitoring and data insights into when your assets should genuinely be replaced or when they simply require repairs.
5. Get Your Employees On Board
Another key strategy in building a more sustainable business is finding ways to get your employees to be more mindful of their behaviors and habits as well. Your employees are, after all, a major part of how your business operates, so if they aren’t being sustainable in their everyday work behaviors, then this could be affecting your business’s carbon footprint.
To get employees on board, you will need to start by clearly outlining your company’s sustainability goals and making sure everyone is aware and understands why running a sustainable business is important. You can do this by creating sustainable best practices guideline infographics and videos for your employees to use or even holding sustainability training sessions.
You can even create a “green” team where employees can engage and be a part of making decisions about how to create a more sustainable environment at the office. Competitions and contests can also be fun to get employees involved, such as a prize for the employee who recycles the most or throwing a party when the company reduces its waste or energy consumption by a certain percentage.
Final Thoughts
These are some key strategies to effect the most sustainable changes within a business. However, these are not necessarily hard and fast rules. There are many other ways business leaders can adopt more sustainable business practices, such as getting involved in community sustainability initiatives, hosting more sustainable events, and participating in carbon offset credit programs.
When attempting to ensure the sustainable longevity of a business, it’s more about the quality of the sustainable choices made over the quantity. In other words, instead of doing a lot of small things that don’t have much of an impact, it’s better to put time, effort, and resources into making more substantial changes that will have a more significant long-term impact.