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While the growth of the manufacturing and industrial sectors can accelerate a country’s development, these sectors can also contribute to environmental degradation with massive carbon emissions [1], waste generation, water pollution, and more. Fortunately, a slow but paradigmatic shift is visible in the minds of the people. With the help of NGOs, school curriculums, and impactful environment awareness campaigns, people understand the consequences of climate change. In this blog, we will delve into some of the best sustainable companies building a better and brighter future, one step at a time.
Both small- and large-scale business can influence society by setting positive examples that initiate change for a greener tomorrow. Therefore, business owners are coupling their occupational strategies with innovation to offer novel products, services, and solutions that have minimal effect on the planet.
What is a sustainable business corporation?
Sustainable corporations prioritise environmental stewardship, social responsibility, and ethical governance while aiming for long-term profitability. They focus on reducing ecological footprints, fostering community well-being, and maintaining transparent, accountable practices.
Sustainable companies are committed to long-term sustainability and responsible business practices, often leading their industries in terms of environmental and social responsibility, and transparency. They aim to balance profit with the well-being of society and the planet, serving as role models for businesses seeking to make a positive impact beyond financial gains.
What are the elements of corporate sustainability?
How does an organization qualify as a sustainable company? Usually, the leaders and managers of an sustainable enterprise keep the following pointers in mind:
- Lowering their pollution levels
- Adoption of clean energy
- Water conservation
- Waste reduction
The importance of sustainable companies
Sustainable companies play a pivotal role in today’s world. They contribute to environmental preservation by reducing carbon emissions, conserving resources, and promoting renewable energy.
Socially, they foster ethical labor practices, diversity, and community engagement, promoting social equity. Economically, sustainable companies often enjoy long-term stability, resilience to market shifts, and an enhanced reputation, attracting customers and investors.
By prioritizing sustainability, they set a precedent for responsible business conduct, driving positive change across industries. These companies are essential for addressing global challenges, from climate change to social inequality, and building a more sustainable and equitable future.
Doing their bit: A glimpse into 5 sustainable companies
Here is an insight into 5 sustainable companies that are paving the way toward a greener future:
American Water Works Company
Considered one of the world’s most sustainable organizations because of its transparency and leadership, the American Water Works Company was founded in 1886. To put it simply, it is the world’s biggest water and wastewater company across the world.
Even though they serve around 15 million people, they successfully save 12.5 billion liters of water annually by practicing various efficiency techniques. In addition, they have also committed to a solid 40% reduction in greenhouse gas and carbon emissions by the year 2025.
Neste
Neste is known to be a global leader in sustainable practices, known for its plastic waste reduction, renewable diesel, sustainable aviation fuel, processing of raw materials into renewable fuels, and more.
According to their CEO, Peter Vanacker, their company’s end goal of building a better world for children encourages them to do better on the sustainability front. Their futuristic goals and strategies motivate multiple sustainability companies to actively incorporate responsible solutions in their operational apparatus.
Patagonia
Mostly, we have heard about sustainable companies in sectors like food and beverages, electrical, industrial, and more. Patagonia has proven to be a trailblazer in the clothing industry, known for manufacturing a diverse variety of durable clothes.
One striking feature of this sustainable company is that they are completely honest about their practices and operations. For instance, to produce the outer shells of their winter coats, they have to use fossil fuels. Now, instead of masking this information, they choose to be transparent with their customers, which wins them an enthusiastic applause from society.
Amazon
A couple of years ago, the digital boom fostered the growth of online shopping platforms like Amazon, Flipkart, Myntra, and more. However, among all of them, Amazon has proven to be a leading player with rapid growth and the highest revenue generation. So, what makes Amazon different from the other online brands?
The answer is simple: a customer-centric approach. Along with top-notch and flexible customer policies, Amazon’s sustainability Hub enables them to actively share information about their relentless sustainability commitments. Additionally, Amazon consistently partners with other renowned companies like P&G to help them design and rediscover more sustainable packaging strategies for their customers.
Apple
With consistent dedication, robust business ideas and sheer diligence, Apple has marked a prestigious reputation for itself in the tech industry. Even though it is not counted as the most sustainable company, it is slowly incorporating responsible practices for a healthy planet.
For example, with the launch of the iPhone 11, Apple has announced that the product is inclusive of 100% recycled aluminium. In addition, Apple makes use of several reused and recycled components within the internal elements of their phones.
Lastly, the company is also developing a trade-in scheme that allows Apple owners to exchange their old phones for new ones, reducing electric cluttering and waste production [2].
Benefits of sustainability in business
Sustainability in business offers numerous benefits. Firstly, it enhances brand reputation and customer loyalty, as consumers increasingly prefer companies committed to environmental and social responsibility. Sustainable practices can lead to cost savings through efficient resource use and waste reduction. Additionally, they attract and retain talent, as employees are often drawn to organisations with strong sustainability commitments. Sustainability fosters innovation, encouraging businesses to develop new, environmentally conscious products and services. It also mitigates the risks associated with resource scarcity and regulatory changes. Long-term, sustainable corporations are likely to experience increased investor interest and improved financial performance as markets increasingly recognise the value of responsible business practices.
The future of sustainability in business
The future of sustainability in business is poised for significant growth and innovation. As environmental concerns and social awareness continue to rise, sustainable corporations will increasingly be seen not just as niche players but as standard bearers in the business world. Technological advancements will enable more efficient use of resources and reduction of waste, making sustainable practices more accessible and cost-effective. The integration of sustainability into core business strategies will become the norm, with companies focusing on long-term environmental and social impact alongside profitability. This shift will likely be driven by evolving consumer preferences, stricter regulatory environments, and a growing recognition that sustainable practices can lead to competitive advantages and robust financial performance. Moreover, the rise of impact investing will further propel businesses towards sustainability as investors seek not only financial returns but also positive societal outcomes.
Schneider Electric: Building a more sustainable world, one step at a time
Our end goal is to optimally bridge the gap between progress and sustainability by devising strong, robust, and innovative products, services, and solutions. Over the years, we have catered best-in-class automation and digital solutions for multiple sectors like hospitality, healthcare, life sciences, commercial real estate, facility management, and more.
We take pride in being one of the most sustainable companies in the world with our 6 long-term commitments, i.e., Climate, Resources, Trust, Equal, Generations, and Local. Here is a brief glimpse into our Sustainability Impact Program:
- By promoting multiple local initiatives.
- By ensuring that all our employees are valued and treated equally.
- By using most of our digital technology reasonably and responsibly.
- By upholding ourselves to governance, ethical, and high social standards.
- Actively investing in innovative solutions that offer lasting decarbonization.
Footnotes
[1] Eurostat Statistics Explained – Glossary: Carbon dioxide emissions
