Why is it necessary as an entrepreneur to protect the planet?
To protect our planet for future generations, we need to work on tackling issues such as climate change, deforestation, and pollution. The business sector alone is producing 17% of greenhouse gases. Businesses need to take action to become environmentally friendly by making their supply chain, packaging, and raw materials sustainably. This guide will provide you with the most essential information to take away and start implementing to make a positive impact on society, and the environment and to be more profitable in the long term.
What are the benefits of an entrepreneur being sustainable?
Firstly, being sustainable opens up more opportunities for the business such as gaining investors because investors are looking for businesses that adopt sustainable practices. For example, if you were to go onto Dragons Den to seek investment, you would spot Debrah Meaden who loves sustainability. If you can impress her with your business model and your profit and revenue streams with the added benefit of being sustainable, nothing will stop that investment.
Secondly, employing sustainable practices in the supply chain, the business model, and raw materials, makes a business become more efficient with its resources. It helps reduce and make energy use more efficient.
Thirdly, it has a positive impact on society and the environment. Socially, sustainable practices strengthen community bonds and help improve the quality of life and provide a better future. Environmentally, sustainable practices help preserve natural resources, mitigate and adapt to climate change and promote biodiversity.
Fact: Enel X believes achieving a sustainable world means fostering innovation.
Also, being sustainable enables the business to gain a competitive advantage. Gaining a competitive advantage all the time is obtained by the entrepreneur keeping up with the latest trends in the market and always spotting opportunities to be sustainable either through advertising it in a message or simply implementing it and surprising the customers.
Top tips to become environmentally friendly
Research is key... Without the business conducting research and understanding what sustainability is. How can sustainable practices be implemented? What goals can be set to meet targets such as zero carbon emissions? What problem would the business be able to resolve by implementing sustainable practices? Being able to address specific sustainable practices rather than trying to impose sustainability in the business without using the wider topics of sustainability.
Understanding and using the Sustainable Development Goals. The research was conducted by GetSmarter 546 professionals to better understand the impact of sustainability. The report revealed that the most urgent Sustainable goals to develop are quality education, responsible consumption/production, and climate action.
Businesses aligning with the Sustainable Development Goals mentioned such as taking climate action, responsible consumption, and production of raw materials, can strengthen the engagement of customers, employees, and stakeholders.
Alter the business model to be sustainable. The business can create and track metrics that resonate with the priorities of internal stakeholders. Working with internal stakeholders and planning out what needs to be done in specific business units, will increase efficiency and reduce costs. The specific business units such as operations, procurement, human resources, and marketing need to be worked on to find out the best ways to be sustainable.
