New Zealand is one of the countries most committed to sustainability initiatives and measures, but if environmentally-conscious know something is that there is always room for improvement when it comes to eco-friendly practices. Many New Zealanders are keen on reducing their carbon footprints and being an integral part of the fight against global warming. However, individual measures are not enough. Businesses must also prioritise sustainable development and put in the effort to ensure they’re doing as little damage as possible. The best way to ensure your enterprise is in line with what it takes to be environmentally conscious is to build your business strategy on the fundamental pillars of sustainability.
What is sustainability?
Although many people are concerned about the state of the environment and reducing their carbon footprints, the concept of sustainability remains elusive for some and somewhat hard to define. So, what exactly is sustainability? In broad terms, it is a social goal that aims for the continued co-existence of people on Earth while also supporting biodiversity, mitigating the levels and effects of pollution and ensuring adequate quality of life levels are maintained. Measuring sustainability itself can be a challenge.
This is precisely why it can be difficult for businesses to carry out comprehensive audits and decide which areas they should invest more time and resources in. The reason why it’s so hard to determine sustainability levels is because the concept encompasses many different aspects and factors, and there is no universal definition that contains all of them. However, that doesn’t mean businesses should not focus on consuming fewer resources, lowering their emissions and giving back to their community.
Environment
Environmental sustainability is the one most people think about when it comes to adopting more ecological lifestyles. As part of environmental sustainability, businesses should seek to protect the natural world and natural capital, including both renewable and non-renewable sources. The former should be used responsibly, while using the latter should be kept at a minimum so that the resources can replenish. The aim is to meet needs and requirements in the present but not compromise on the ability to provide them again in the future.
There are many factors that influence this brand of sustainable development. The pollution affecting the soil, water, and air, the effects of greenhouse gases on global warming, biodiversity loss, or the depletion of natural resources are the most noteworthy. But what are the strategies that could help solve them? Consuming fewer resources and getting balers for recycling insulation materials, as well as paper, metal, plastics and compost are paramount. Anything that ends up in landfills contributes to a growth in global emissions.
Reducing emissions, moving to renewable, eco-friendly energy sources and creating policies that conserve biodiversity are all crucial. Raising awareness and getting your whole team involved means that the measures will reach a larger area. Promote the integration into a circular economy, and make sure your customer base is aware of what that means and knowledgeable about their role in the entire process.
Economy
Since we’re talking about businesses and corporations, it goes without saying that economics will be an essential factor. As the name suggests, economic sustainability deals with the capital aspect. It is focused on social equality and finding the best way to ensure sustainable capital movements in order to improve living standards. The idea of economic sustainability is to support development over the long term and create policies that will establish a system that will benefit future generations as well.
Economic sustainability should also consider cultural aspects. This includes the subsets of labour practices and welfare, wealth distribution, using technological improvements to help everyone, promoting exchanges and transfers, and keeping regulations in mind. Heritage conservation, cultural practices, and beliefs are also included under the umbrella of sustainability. The capacity for efficient innovation and how fast systems can be changed to meet new requirements is an ongoing concern for the area.
Reaching financial stability has also proved to be a challenge, often as a result of irregularities and improper practices at a macro level. Some of the systems could also be outdated and no longer fit to meet the requirements of a changing society. Businesses should also be committed to creating and promoting the integration of policies and initiatives that can address problems in their communities as far as they’re able to.
Corporations should also aim for increased responsibility levels and improved social inclusion.
Social
Social sustainability is the concept that seeks to improve well-being levels for communities and people. There are many difficulties that must be overcome in this direction, including discrimination, poverty, conflicts and their effects on the financial stability of regions all over the world, and lack of access to resources either because of poverty or as a result of climate change or poor governance. Climate change increases the incidence of extreme weather phenomena, including wildfires and floods. These natural disasters typically result in massive losses for the victims. Households are lost completely or damaged beyond repair, and many people are left without a roof over their heads and employment.
Some can end up disabled, with the medical bills adding up to mounting costs that can weigh heavily on the dwindling budgets of the victims. In the fight to move away from this inequality and ensure it doesn’t resurface periodically, policies need to be upgraded consistently to ensure social sustainability remains firmly in place. Basic human rights must be unconditionally respected in regard to education, health and all other factors of attaining equality.
It’s crucial to create safe environments. Your workers should know that their workspace is perfectly safe, that they have access to the proper equipment and training to prevent injuries and illness, and that they’re not exposed to any harmful substances that could damage their health. Reducing the amount of pollution you create also means that you reduce the possible harm to the community. Your products should also not contain any dangerous materials or substances that could harm the well-being of your customers.
Lastly, make sure to include people from different backgrounds in your business projects and encourage and value their insights. New perspectives are important for delivering complete and elevated experiences.
Being a business owner means having to keep a lot of things in mind, as all of them could make or break your brand. Sustainability is one of them, but it’s essential to have a multi-layered approach that takes several different things into consideration. As eco-friendly technologies develop, companies must keep up as well in order to build their competitive advantage and ensure they do their part in protecting the planet.