What Does Corporate Sustainability Mean?
Corporate sustainability has become a hot topic of conversation within the last couple of years. Brands are becoming increasingly held accountable by their consumers and shareholders surrounding their impact on the world around them.
With the pressing dangers of climate change along with growing concerns over workers’ welfare, it has become incredibly important to ensure your business is keeping up with the changing times.
Ensuring that your company is sustainable not only will ensure the longevity of the world, but will also benefit your business. Strong values and environmental objectives have become a key concern for investors and consumers.
But the key question is: what actually is corporate sustainability and how can your business achieve it?
What actually is corporate sustainability?
Corporate sustainability encompasses multiple aspects of business, not just your environmental policies. It is a business model that not only recognises corporate growth and profitability, but also engages with societal goals.
These goals include ensuring sustainable development (creating business decisions that not only meet the needs of present society, but also decisions that do not endanger the needs of future generations) along with having a corporate social responsibility to address society, not just your stakeholders.
Sustainability has become a key topic, not only in business, but for everyone. It is no longer an optional conversation for companies, but a crucial part of keeping up with the changing world.
Sustainability Attracting Investors
Corporate sustainability has become a growing concern among investors, especially young investors. Many look to place their money within companies that will not only produce a profit, but also align with their morals.
There are three key aspects that investors focus on (known as the environmental, social, and governance criteria):
1. Environmental – energy use, waste, pollution, and treatment of animals.
2. Social – values of suppliers, contribution to charities, and working conditions of employees.
3. Governance – transparency with investors surrounding finances and providing stockholders with the ability to vote on important issues.
Corporate Sustainability as a Strategic Priority
Although taking an interest in your brand’s responsibility within the world is ethically important, it can also lead to profitability. Consumers are becoming increasingly disillusioned with brand’s that are only producing performative activism (activism that is created purely as a public relations stunt, rather than a genuine initiative).
Through producing a legitimate corporate sustainability strategy, you limit possible risks in the future of consumers or legislative bodies calling you out on your ingenuity.
Reducing waste is also highly economical for your business as it can save you money. By using an energy consultancy company that ensures you are not wasting energy or money, such as Ginger Energy, it allows you to place your funds where your business needs it most.
“Partnering with Ginger Energy has given us the confidence that we are getting best value from our energy supply contracts alongside reducing our carbon footprint by using truly green energy” – Mears Plc
How to Make Your Business More Sustainable in 5 Easy Steps
- Utilising a specialist energy consultancy company that offers products backed by the Renewable Energy Graduate of Origin (REGO), such as Ginger Energy, so you can aid in the transition to a low carbon future.
- Investigate options for on site generation and increased energy efficiency. This can include completing a review of your building management systems, investing in LED lighting or installing solar panels, all of which Ginger Energy can assist with.
- Use sustainable products in your packaging such as:
Biodegradable peanut packaging
Paper/cardboard over plastic
Sustainability as the Future
Corporate sustainability is not simply about the environment, the future, or profitability. It combines all three. It is critical to develop a business sustainability strategy to keep up with the changing times, protect the planet and attract investors.
As a specialist energy consultancy company, with extensive expert knowledge of the industry, Ginger Energy can aid in the creation of green contracts for a better future. For more information, visit our homepage or get in touch with us today.