It is paramount for your company to understand what actions or features indicate sustainability for your specific consumer segment. The importance of how consumers view sustainability elements vary per industry The importance of how consumers view sustainability vary per industry
Degree of business transformation In general, companies can pursue sustainability in 3 different ways
Offsetting current environmental impacts 1
Altering production and purchasing 2
Reinventing or adding to the current business proposition 3
Ways sustainability can be incorporated into your business •Unchanged production •Unchanged proposition
•New proposition, new markets •New business models •Innovation as a driving force •Higher life-span, recyclability, less waste, etc.
•Unchanged proposition •Use of recycled materials •Use of renewable resources
•Carbon offsetting •Carbon capture •Incentivization in supply chain
DEGREE OF TRANSFORMATION
Category Emissions, pollution and industrial waste
Offsetting emissions
Shopping local
Raw materials and resources
Lifespan and durability
Packaging Recyclability and reusability
Food waste
Each option has a progressively greater impact on your company’s day to day activities and output. Reinventing your business proposition can speak to a complete difference in your company’s vision and objectives, right down to the physical product that is created and sold. An important step in creating your sustainability action plan is to determine your company’s current tolerance and readiness for this kind of change. The final visionary end state isn’t a step your company has to tackle all at once – it can be done in stages. A company just starting the journey may choose an action plan with minimal impact on a business’ day to day, and that will make the transition through subsequent steps more natural.
Taking a leap Substantial change on the day to day doesn’t necessarily translate to sub-optimal business impact. Taking advantage of the strong demand for sustainable options combined with a thoughtful go-to-market strategy may be better for business in the long run.
Energy and utilities Travel and tourism Automotive Consumer goods and retail
1 st 1 st
2 nd 2 nd
3 rd
3 rd 1 st 1 st 1 st
3 rd 3 rd 2 nd
2 nd
2 nd
Financial services
Home construction and renovations
3 rd
1 st
2 nd
13 Environmental sustainability in business
Made with FlippingBook Ebook Creator