It wasn’t long ago that sustainability was considered to be a burden on companies’ time and resources. This time has passed.
Industry leaders now recognize the financial benefits, and competitive advantages that can be gained by improving social and environmental performance.
Focusing on sustainability encourages innovation, strengthens risk management, increases efficiency and facilitates growth. All of these help businesses improve their bottom line.
There are numerous examples that demonstrate the value sustainability brings in these four areas and we have listed a few notable ones below:
Opening Doors to Impressive Innovative Potential
Focusing on sustainability prompts companies to think up creative new ways to solve problems.
Here are a few examples:
Tackling Risk Head-on
Risk management is a key issue for any large-scale corporation.
Sustainability is a hidden, unaddressed risk for many businesses.
A 2015 EY Global Institutional investor survey found that the failure to adapt to and mitigate climate change is the number one risk investors are concerned about for this year.
Failure to address these risks is already impacting corporations and driving companies to adapt to secure their bottom lines
Expanding Profits through Increased Efficiency
When companies measure and manage their sustainability performance, they significantly improve their overall efficiency. This can save them millions of dollars.
Sustainability is Synonymous with Growth
Consumers and industries are driving companies to build responsible products.
Companies that manage their sustainability are capitalizing on these trends and in turn, achieve dramatic results.