How To Implement Sustainability in Your Business

Sustainability can be a loaded topic. On the one hand, most customers are willing to pay more for sustainably produced merch. On the other, sustainability seems like a buzzword companies use to make more money. So what is sustainability in business and how can you make it work for you? Simply put, sustainability in business refers to the environmental, social, and corporate governance strategies you implement to reduce your overall impact and make your commercial property more valuable. 

Importance of Sustainability in Business

Since more people are willing to pay a premium for commercial sustainability, making the commitment gives you an advantage. For one thing, your property value increases because your buildings operate more efficiently, and you will likely find it easier to attract tenants. 

Operating commercial buildings sustainably also reduces your overall risks. Since you focus on constructing the building with less waste and fewer products, it is cheaper to repair after a natural disaster. For example, if you install carpeting in small sections, you can replace those impacted by a flood instead of ripping out the whole carpet. Your buildings are also more likely to pass inspection as regulations change. 

You also save money in the long run. On average, green buildings are 25% - 30% lower in cost to operate than their less efficient counterparts. As your tenants and investors demand sustainability, committing to it improves your relationships with them. Many states and countries have enacted strict climate legislation, and investors are interested in commercial property managers who can meet these regulations. 

Commercial Examples of Sustainability

Sustainability in business isn’t limited to buildings. Fortune 50 sustainability winners as well as companies across industries are making the commitment:

Walt Disney Company

The Walt Disney Company operates six resorts, more than 25 hotels, and multiple cruise ships. The company has pledged to reduce its environmental impact by lowering emissions, conserving water, reducing waste, and other initiatives. This includes renewable energy at Disney properties and making toys and other memorabilia with recycled materials. 

Olam International

Olam International is an agricultural and food production company with customers across the globe. the company is training farmers in agricultural growing practices. The company also shows a commitment to social responsibility by supporting children’s education. This includes farmer field schools and charity initiatives. 

Patagonia

Clothing retailer Patagonia has been a staple in corporate sustainability since its founding. The company offers environmental and animal welfare programs and considers its overall impact from manufacturing. 

Patagonia also uses recycled textiles to make its clothing and encourages customers to return clothing to the store to be upcycled after use. 

Unilever

A global consumer goods company, Unilever makes some of your favorite products from Dove beauty to Magnum ice cream. The company has committed to sustainability in business issues for more than two decades. 

Its more recent goals include achieving net zero emissions by 2039 and scaling back on plastics by 2026. Unilever has also committed to paying employees a living wage and incorporating more renewable energy throughout its manufacturing processes. 

Strategies for Successful Sustainability Integration

It’s not enough to answer the question, “what is sustainability in business?” You need a plan to integrate goals into your operations. 

Start by creating a roadmap that outlines your goals and identifies key performance indicators you can use to measure your progress. To get your business partners and investors on board, highlight potential cost savings, such as reduced energy costs. 

Once you’ve set your goals, start collecting data. For example, if you want to reduce your energy consumption, measure your baseline. Then collect data after you’ve made changes to see how well your plan is working. 

Engage interested parties and members of the community to create buy-in and hold yourself accountable. Include your employees in the planning process. Your maintenance workers, building managers, and other staff will be responsible for enacting your initiatives, so ask them for feedback when developing your roadmap. 

Include a section on your website where investors and members of the community can track your progress. 

Challenges in Implementing Business Sustainability

Even with the best intentions, you may run into some roadblocks. First, you need consistent reporting standards. Choose a set of standardized reporting guidelines so you know what information to measure and include in your reports. 

Some of your employees may resist change, or you might find that your existing buildings need costly modifications to meet your sustainability goals. You can address the first challenge by including everyone in the planning process so they understand how sustainability benefits them. 

To mitigate other implementation issues, look at the costs associated with implementation and revise your goals if needed so you can realistically achieve them. 

Make sure you measure your impact using IoT sustainability technology and other tools and provide updates to your website. Anyone interested in your sustainability efforts wants to see your progress. Take time to update and post these reports. 

The Role of Leadership in Sustainability

The best way for leaders to contribute to a culture of sustainability is to lead by example. Your corporate leaders should commit to ethical and eco-friendly practices in their business and personal lives. For example, a company that claims to be committed to sustainability while flying its owner across the globe in a private jet can come across as insincere to investors and customers. 

Managers should also keep open lines of communication. If you’re the company owner, encourage employees to make suggestions on how to incorporate sustainable practices. More importantly, listen to the feedback and implement it when you can. This helps you build a trusted relationship with your team while remaining accountable for your sustainability goals. 

Attune can help you measure progress on your sustainability goals. Learn more about how.

Sustainability in Business FAQ:

What does sustainability mean in business?

In business, sustainability refers to how your company and operations impact the environment and society as a whole. You should aim to make the world better or at least minimize harmful impacts. 

What is the main goal of sustainability in business?

For many business owners, the main goal of sustainability in business is to increase their brand’s long-term value. They do so by balancing long-term profits with environmental responsibility and social equity. 

What are examples of sustainable business practices?

Sustainable business examples include converting to renewable energy, recycling, reducing waste during manufacturing and building, or sourcing materials from fair-trade companies.