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What is your definition of
a sustainable business
? Your definition will be different from an environmental activist or a business executive. When we address the idea of sustainability, we must recognize that the term “sustainability” can be interpreted in so many different ways. We can use our sustainability lens and put our own spin on things. This means there can be a lack of accountability, especially for those businesses that claim to be sustainable, but cannot provide the proper evidence. What are the main reasons it is hard to be a sustainable business?
A Lack of Defining Its Value
Sustainability is open to interpretation. But this means we’ve got to shift business practices to be environmentally friendly, but we must define its value for us. A sustainable business can undertake a box-ticking exercise, and work with the right components, whether this is the right IT support company or deal with suppliers who have the appropriate perspective of ethics, the reality is that we’ve got to determine how valuable it is. We can do this by calculating the savings from purchasing renewable energy, for example, but we also must realize that it is an upfront cost. So rather than determining its value through figures and numbers, we’ve got to decide how being sustainable will benefit us. We all know that it’s beneficial to the planet, but when we have a solid definition, much like we would when conducting our business plan, we are venturing into it with our eyes open.
Not Comprehending the Impacts of Consuming Less
To be sustainable, we have to encourage customers to consume a lot less of everything. This is what we are told by environmental experts, and this can be anathema to business models. However, it’s important to remember that you can find the balance. You can conduct your business with a minimalist attitude but also advocate for sustainability practices you believe in. We cannot guarantee our customers will purchase less, but this is why we need to attract customers who are interested in the message. When they listen to the message, we have done everything we can.
Not Understanding the Impact of Collective Action
We can be sustainable in an environmental and ethical sense, but we can also realize that it is an overwhelming challenge that we may not be ready for. Because the biggest problem with using natural resources is that if we do not use them, somebody else will, which means that so many businesses develop a mindset to deplete important resources. Because if they don’t use them to get ahead, their business suffers. But this is why you can get around the problem by working with nonprofits, and spearhead schemes that can stay on the right side of sustainability. There are countless examples in the world in the food industry where companies are actively working to reduce the use of single-use plastics, and only use recyclable materials. The fact is your heart may be in the right place, but if you really want to become a sustainable business, you need to be aware that it can be a massive challenge.