What is sustainability in business?

Sustainability

ESG efforts (opportunities, lower expenses, and risk mitigation) lead to better business.

Sustainability in business leads to profitability  

Sustainable businesses care about their impact on the environment but also on people and what they want to do is negate their impact. Their goal is to always “cause no harm” to the environment and people. The big question is why would we do that? Businesses are so busy today. Why would they spend time and effort becoming sustainable?

Better business

ESG efforts lead to better business. How? By looking at climate risk, or social risk, companies can actually get ahead of costly issues like supply chain disasters, or civil unrest. Being alert to the environmental and society can reduce expenses through risk mitigation. 

New country or industry regulations are popping up every day it seems. Already having a handle on your company’s GHG emissions, for example, puts you in a good position. Also, ventures lending you money are starting to ask if you have sustainability practices. Millenials and GenZ are also demanding brands and businesses put the planet on their agenda. 

There is also a robust opportunity out there for companies focused on ESG. If your business cares about the planet and creates a new product or service aligned with good values, it will likely feel tailwinds of sustainability. 

A sustainable business cares about people and planet. There are forces pushing businesses to get into this today including employee, customer, supplier pressure, new regulations, lender requirements and climate change. 

Thanks for reading.

~ Team ThisRock