So why are businesses prioritising sustainability? This is a question that puzzles businesses who haven’t yet understood the business case of sustainability and therefore missing out on opportunities but also threatening their businesses future!
Throughout the years there have been countless researchers conducted on the development of Corporate Responsibility and since 2002 universities have created new departments for this movement. Recently edie along with Sustainable Business and Temple conducted a research to answer this question. Their results are indeed profound and most certainly answer any questions businesses not prioritising sustainability might have!
Seven in 10 businesses (69%) consider sustainability to be a priority business driver for success in 2012, by doing the math you will find that more that 40% of those see it as a high priority, principally placing it at the core of their business! But why is this so?
In a nut shell, “going green” creates opportunities and identifies risks before they are brought to the surface. By prioritising sustainability the report finds that companies are driving down costs by focusing and engaging in energy, waste, carbon and water efficiency.
Shorly it comes as no surprise that energy is the largest issue among all, given that minimizing energy consumption also narrows down the profit margin, but positively carbon also. But then again with energy prices rising, and have no doubt that they will continue raising, and mandatory carbon reports booming in 2013, it makes perfect sense why up to 95% of the largest firms are addressing this matter by “going green”! The same case applies for waste reduction being among the top five priorities businesses are addressing! In turn, increasing efficiencies to drive profit margins is a critical business driver with 43% of businesses saying that it is among their top three priorities for the next three years. In fact 85% of these believe that resource efficiency will become fundamental to their business within in the next two years.
Essentially, the report places it perfectly by stating that “across sectors, most respondents seem to have realised how ‘green’ can also mean ‘lean’ in today’s harsher economic climate”. Facts sheet? Sure, nearly 71% already have energy-use targets in place, whilst 65% of companies have set themselves waste targets.
Businesses who have chosen to not go green should perhaps encounter that by 2014 carbon and waste reporting will be almost be a common practice.
Begin prioritising! Found out how CSE can guide you through the journey of sustainability…