Business is evolving in a powerful way. Consumers are more conscious of how their purchasing decisions affect the environment, social causes, and the welfare of workers. Even after a worldwide pandemic, consumers are willing to pay more for products and offers that they feel good about rather than participate in unsustainable practices that they don’t believe in or support.
The good news is that adopting sustainable business practices is becoming easier as it becomes the status quo and new innovations are making their way to market. Companies of the past predominantly looked to their recycling and fuel usage practices to become more responsible global citizens. Today, there are a variety of ways companies and businesses are creating greater impact with higher levels of sustainability. Here are a few you can consider implementing in your business for 2021.
Energy sector/new sources
The energy sector is burgeoning with new innovations beyond solar and wind power. Renewable energy sources such as green hydrogen, carbon capture, and even power from human waste are gaining traction. While solar and wind energy are still at the forefront, emerging technologies with clean, renewable energy systems will give companies and businesses new opportunities to lower their carbon footprint and increase their sustainability.
Fashion
One study found that, “20% to 35% of all primary source microplastics in the marine environment are fibers from synthetic clothing, and the amount is increasing.” With greater awareness that cheap clothes are contributing to single-use plastic waste as well as humanitarian issues in the workforce—especially overseas—consumers are looking to sustainable brands for alternatives. Some of the sustainability considerations for the fashion industry include organic, biodegradable fabrics; ethically sourced materials for garments; and socio-economic considerations to make sure workers are paid fair wages, in clean working conditions, with acceptable work demands. While this drives the cost of fashion upward, sustainability-conscious consumers are happy to pay the premium price.
Replacement of plastics
Plastics, especially single-use plastics, have been the center of environmental controversy for some time. By 2050, it’s estimated that there will be more plastic waste by weight in the ocean than fish. Considering plastics not only endanger wildlife but are also contributing to water contamination, which affects both animal and human health, a focus on replacing plastics is a focus companies and businesses can take seriously to do their part. Some replacements available for plastics include stainless steel, glass, compostable beeswax, bamboo, wood, and other metals. The alternatives are vast and when companies make the choice to use sustainable materials instead of plastics, there will be a massive shift in the excessive pollution that’s currently taking place.
Environmental
Climate change is a real phenomenon. It’s contributed to fluctuations in extreme weather, causing natural disasters to be more severe and increasingly common. From the fires that consumed Australia and the United States West Coast to the devastating hurricanes wiping out cities in Puerto Rico and Florida, environmental influences are no longer something to be ignored. One way companies are looking at their impact on the environment is by reducing their carbon footprint. This takes many forms, from reducing the amount of fuel used in transport to reducing the petrochemicals used in product creation to investing in reforestry efforts. In the past year, many companies reduced their carbon footprint simply by allowing their workforce to work from home instead of making the trek into the office every day. There are many ways to be more environmentally friendly, and it’s becoming easier to make those changes.
The future
As consumer demand continues to rise for more sustainable practices, it’s important for companies and businesses to take these trends into consideration for building out long-term sustainability plans. Even if you can’t make all of the changes today that you’d like to, creating a plan for sustainability with specific goal posts and starting wherever your company can today is crucial. To be even more transparent and build a deeper level of respect with your audience and consumers, share the details of your sustainability initiatives so they understand where you are, where you’re headed, and what your values are as a company.
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