What is Sustainability?
Sustainability Definition
In business, sustainability is the act of using economically sound practices that reduce negative impacts on the environment, while conserving energy and natural resources. Many companies across a wide range of sectors are adopting sustainability as part of their business strategy. Benefits of sustainability include:
- Increased operational efficiency due to reduced costs and waste
- Ability to attract new customers and gain first mover advantage
- Compliance with environmental regulations
- Greater public trust and strengthened brand reputation
- Increased profitability and growth
FAQs
What are the three pillars of sustainability?
The three pillars of sustainability are:
- Economic viability
- Social responsibility
- Environmental protection.
*Source: https://www.investopedia.com
What are five ways to make your business more sustainable?
To make your business more sustainable, follow these practices:
- Set sustainable development goals
- Reduce energy consumption
- Reduce waste
- Use biodegradable and recycled materials as part of your product design and packaging
- Work with local and sustainable supply chain partners
How is sustainability achieved?
Global action is required to address many of humanity’s problems, including climate change, water scarcity, inequality, and hunger. Sustainable development is defined as a dedication to social advancement, environmental balance, and economic growth. The sustainable development goals, a call to action to conserve the environment and ensure human welfare on a global scale, were adopted by the United Nations as part of a new sustainable development blueprint known as the 2030 Agenda. The active participation of people, organizations, government agencies, and nations from all over the world is necessary to achieve these shared objectives.
What's an example of sustainability?
Minimizing the use of energy and natural resources in product manufacturing is an example of sustainability.
Streamline
Environmental
Compliance
With tightening environmental legislation and shifting consumer preferences, there’s a greater push for companies to adopt sustainable product development practices and deliver eco-friendly products. Thus, many manufacturers are stepping up to the plate to help build a greener future and enhance our quality of life.
Learn how to streamline environmental compliance for sustainable product development.