THE BUSINESS CASE FOR SUSTAINABILITY
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Protecting the environment is an increasingly important consideration for people when making decisions about which products and services to buy.
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Over recent years, discussion of environmental issues in the media has dramatically affected consumers’ expectations of the responsibilities of business towards the environment.
As major users of natural resources, businesses are under mounting pressure to use resources responsibly. Our communities expect us to set a good example for environmentally sustainable commercial practices.
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Businesses can take advantage of this opportunity to meet community expectations.
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By adopting simple, effective measures – to improve efficiency in water usage, energy consumption and waste management, for instance – your organisation can help protect our environment and make significant cost savings. In doing so, you will also remain competitive in your ability to attract an increasing number of environmentally conscious consumers.
Australians have come to see genuine attention to environmental issues as a ‘licence’ to operate in their local community; a commitment by which a business justifies the ongoing privilege of using natural resources in its commercial processes.
Accepting responsibility for environmental sustainable practices and living up to community expectations of a responsible ‘corporate citizen’ helps your business win and keep customers, build up loyalty and morale among your employees, and enjoy the respect of the wider community. These relationships can open opportunities to work with other businesses with similar values.
Sustainability also makes economic sense in more direct ways. With rising resource costs associated with increased supply costs and depleted reserves, avoiding overconsumption can lead to substantial cost savings. You can begin by simply measuring your business’s inputs and outputs, which enables you to identify opportunities for reducing environmental impact.
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In order to be effective, sustainability policy must be integrated into an organisation’s core business values and throughout its operations.
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By involving all levels of staff, you can foster a company culture of innovation; employees who are intellectually and emotionally engaged in looking for ways to help protect the environment will be more likely to discover how operations can be made smarter and more streamlined.
Some businesses have embraced new ways to improve their resource efficiency. One emerging initiative is the practice of promoting sustainability over the whole ‘life cycle’ of products and services. One way of doing this is to insist that suppliers meet sustainable standards for responsible use of resources.
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Businesses cannot afford to risk avoiding environmental issues.
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Uncertainty about the future of environmental issues is reflected in growing investment in environmentally sustainable businesses. Financiers increasingly believe that a balanced investment portfolio must include sustainable companies, with the result that finance is more readily available for sustainable infrastructure and development projects.
If environmental degradation continues at the present rate, environmental protection authorities will be forced to enact stricter regulations. Businesses that plan for such a future – and not merely for compliance in the short term – may reduce future legal liability and offset potentially costly compliance measures.
The establishment of carbon trading in the European Union is proof of the feasibility of market mechanisms to provide an impetus to counter unabated energy consumption and greenhouse gas emissions. In Australia, such a trading scheme may not be far off. Reducing carbon emissions now may enable your business to sell allocated carbon credits for profit later.
It is our responsibility to take care of the environment for future generations. Environmental protection is a global problem and every business needs to consider how it can best reduce its impact. If each business makes even small improvements, the results will be enormous.
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To download and save a printable version of the Business Case for Sustainability click here.
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For more information visit
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www.businesscaseforsustainability.com
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www.dse.vic.gov.au
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The Next Sustainability Wave: Building Boardroom Buy-in, Author Bob Willard at www.sustainabilityadvantage.com
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