Sustainability isn’t only critical for businesses to remain relevant and competitive, but a good strategy can also increase your productivity. Reducing your energy consumption or using renewable energy sources can reduce your costs. Eco-friendly machinery can also save energy and costs, while creating a green supply chain can increase efficiency.
Implementing sustainability factors will not only reduce costs and increase productivity over time, but it can also attract employees. Together these things not only build a more resilient business, but also a more profitable one.
Having a plan or framework in place can help keep your business accountable to achieve your sustainability objectives. It will also signal to your internal and external stakeholders, and potential investors, that you have identified environmental and social risks and opportunities.