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In today’s time, adding a green slant to businesses is not just a choice but a necessity. With the growing awareness of environmental problems, the concern for sustainability in businesses is increasing andrightfully so. However, it comes with a range of complexities. The concept of green business is rather ambiguous but it is gradually being embraced worldwide. Following a sustainable business model is quite challenging in countries like India and other developing economies. But it is not impossible. It is imperative to go the sustainable route if we want to leave ahabitable planet for the future generations.
Here are the challenges that every sustainable business must overcome:
Understanding sustainability
It is agreed upon that sustainability is important but not many share the same understanding of this concept. Doing the right thing is important but one should have the proper knowledge necessary for it. Sustainability is built around three pillars—economic i.e. profits, environmental i.e. planet and social i.e.
people. The three are considered to be equally important. A sustainable business must make a profit but never at the expense of the planet and its people.
Cost involvement
This is a significant issue for most businesses when it comes to going green. A high investment is needed to meet sustainability requirements. It is a huge obstacle to overcome but not impossible. The three golden R’s—Reduce, Reuse and Recycle—go a long way in helping with this concern. As do the less resource-intensive products.
Sustainable Sourcing
Sourcing eco-friendly products is impacting every area of businesses and the mindset of consumers. The primary benefits of this practice are to manage risks, reduce overall costs and increase revenue. This also increases competitiveness, attracts new customers, speeds up innovation and so much more. A true win-win, indeed.
Green Packaging and shipping
Sustainable packaging and shipping is becoming a higher priority for both companies and consumers. Implementing it is no longer an option. It is a necessity. Just saying no to plastic doesn’t work in today’s time. Going green means doing a lot more than the expected minimum. Options such as plant-based, compostable and recyclable packaging are available as well as other breakthroughs that are making it
easier for brands to reduce their carbon footprint. Eco-conscious packaging also give a brand an edge over the competition.
Priorities
Businesses ought to decide what their priority is – short-term achievements or long-term goals? The environment will benefit only when every business looks at eco-friendly practices as a responsibility and not a viral trend. Long-term thinking is the only way to go. Adopting the green attitude for short-term success doesn’t make much of a difference. In today’s world, businesses cannot be seen as damaging the planet.Here’s how brands can tackle some major issues:
Managing waste
A lot of brands have started making their products lighter by using less packaging materials, and thereby reducing overall waste and environmental impact for their clients. This contributes to the eco-friendly goals and yet we need much more innovation to make a huge difference. There are a lot of problems associated with managing waste. Most of the waste is toxic. Burning waste is considered green as it does not involve the use of fossil fuel. But it still releases toxic materials into the environment. Waste collection, storage and transport are major challenges. Reusing and recycling are cheaper than paying to dispose of waste in landfill sites. More emphasis needs to be placed on responsible resource use by maximizing recycling and waste reduction materials.
Reducing the carbon footprint
Moving to a position of carbon neutrality is a significant undertaking as many businesses lack the expertise and knowledge needed to implement effective carbon-reduction strategies. Every company and brand has unique challenges when it comes to this. The trick is to find what works best for one’s company today and in the future. This is, obviously, easier said than done. Even if a goal is set,
implementation of said goals comes with its own challenges. Budgetary issues are another significant barrier. The cost of energy-efficient equipment, technology and other carbon-free assets is often crippling.
Sustainability and Cost-effectiveness
Sustainability can be a cost-effective tool if practiced wisely. The balance between the two is integral to both the health of the business and the environment. Something as simple as reducing the thickness of carton covering and the size of packaging can not only cut down expenditure but also lower greenhouse emissions. One more way to keep the balance is to limit the use of natural raw materials and fuels.
Better ways to manage waste is another. The rewards are certainly worth the effort. Going green is a multifaceted process. The goal is to make a positive impact. Long-term thinking is critical but imperative if businesses genuinely want to make a difference. Eco-friendly products serve as a bridge between the consumers and environmental protection. Overemphasis on either of those things could
prove to be costly. Nobody said it is easy. What it is, is absolutely necessary. The green ethic ought to be embedded in a brand’s foundation and not just in its marketing.
ABOUT THE AUTHOR: Ankita Menghwani is a capricious reader. When she is not devouring books, she works as the head of marketing at one of India's leading publishing houses, creates content and clicks moody photographs of books.
