The operative word fundamental to all businesses today is ‘sustainability’. It indicates whether a business that is profitable will remain profitable consistently across the foreseeable future.
Most analysts would consider this virtually impossible to estimate on account of the large number of variables affecting most businesses today. Businesses will need to balance the economic, social and environment priorities on one hand and short-term needs with long-term development on the other.
The big question still exists for many of them: How then do we enhance the sustainability of our business? My answer is that there is no one thing that we need to do in order to build a sustainable business. We need to do everything, everywhere to deepen our commitment.
Here are the top considerations to begin your journey towards building a sustainable business model.
1. Reduce specific consumption of energy and water by 2-5% every year
2. Decrease specific generation of waste, including the quantum of waste going to landfills, by 2-5% every year
3. Scale down specific GHG emissions and other process emissions by 2-5% every year and explore opportunities through Clean Development Mechanism (CDM) and other Carbon Exchange programmes
4. Increase the use of biodegradable resources in our products by 2-5% every year
5. Maximise the share of harvested rainwater in the overall annual use of water by 2-5% every year
6. Incorporate life cycle assessment criteria for evaluating new and alternative technologies and products
7. Strive to adopt green purchase policy and incorporate latest clean technologies
8. Take the lead in promoting and managing product stewardship, by forging partnerships with businesses and communities
9. Reduce depletion of natural capital, which is directly attributable to our activities, products and services by 2-5% every year
10. Commitment to demonstrate attainment of these commandments through pursuit of certifications such as TS16949, ISO 9001, ISO 14001, OHSAS 18001, SA-8000, ISO- 50001, ISO-27001, Green Buildings, Eco Labels Sustainability reporting