Businesses often feel that they have to focus on the bottom line. And it is certainly the case that businesses have to operate within existing economic systems. Put simply – a business needs to make money.
But increasingly, it is clear that sustainability is more than just ‘the right thing to do’. Operating in a sustainable, ethical and eco-friendly way adds value in more ways than one. Of course, we need to recognise that environmental and social value, and broader economic value, are all essential if a business is to survive long term.
Focussing on financial profit alone is short sighted. And only those businesses that truly take a holistic and triple bottom line approach can truly survive and thrive over the years to come.
The Covid 19 crisis has also made it clearer than ever that sustainability is good for business. During this crisis – those companies that already had good environmental social and governance (ESG) practices in place outperformed other businesses – even in purely financial terms.
Consumers and stakeholders are increasingly demanding more from business at all levels. And those who fail to act sustainability and increasingly finding that business suffers, and that they are being held to account.
The market is changing. And no matter whether you company is large or small, you have to turn with the tide or you will sink. Consumers and the general public are more aware of environmental and social issues than ever. Increasing numbers are taking sustainability into account when making decisions about goods and services.
Clever and forward thinking business owners can use this change to their advantage. They can not only help people and planet by making ethical and fair choices for their operations and supply chains. They can also ensure that their business thrives financially in the years to come.
If you need help to improve your company’s sustainability credentials, or to expand your sustainable business, I can help. Please get in touch to discuss your interests and requirements.