Sustainable Business Practices Every Company Should Adopt

Updated On

We may collect a share of sales from items linked to on this page. Learn more.

Companies should adopt Eco-friendly practices, especially as the population grows even more environmentally conscious. In today’s corporate world, sustainable business strategies are no longer a matter of conscientious choice or a legal obligation. It is a matter of retaining existing customers and attracting new ones. According to recent studies, younger generations, especially Gen Z, who are already becoming one of the most important consumer groups, demand sustainable, ethical, and environmentally conscious practices. 

Many corporations today do everything they can to minimize their carbon imprint and adopt more sustainable strategies for keeping their business green — or as green as it can get. But even though environmental protection has become such a massive requirement today, not every company does everything they can to become more eco-friendly. 

However, this often happens due to the lack of knowledge rather than ill negligence. The following tips should help you adjust your business strategies and make your operations more sustainable.

Look for new recycling opportunities.

recycling

Yes, everyone knows that everything that can be recycled should be recycled. However, recycling practices keep evolving, and objectively evaluating waste left from your production cycle is essential. 

In fact, companies should make such assessments regularly and ensure they are up-to-date with the new recycling opportunities. It may seem like a lot of work. Still, there is also a very tangible bonus in this — finding new ways of minimizing waste or reusing this waste in the production cycle can eventually result in lower production costs. 

Digitalize all paperwork.

In today’s digital world, it is easy to digitalize all paperwork, but shockingly, many companies still rely on paper. Even if this paper is recyclable, going fully digital can do more for the environment and take some unnecessary work off your hands. For instance, when you’re registering a business entity like an LLC, you can opt to file the necessary paperwork online rather than submit physical copies by mail. Read this guide by GovDocFiling will tell you more on how to file your business registration documents online in order to minimize your carbon imprint.

The other obvious benefits of going fully digital are faster transactions, better organization of processes, and simplified access to documentation. 

This also translates to increased transparency of all corporate operations — something Generation Z, an age group not only consuming the goods but also entering the job market, especially appreciates in a company. 

Keep looking for new green initiatives.

Like recycling opportunities, available green initiatives keep evolving, and assessing those regularly is essential. 

Here, a lot will depend on your business specifics and available budget. For example, delivery services and taxis should consider investing in an all-electric vehicle fleet — that much is obvious, just like it is evident that not every agency can afford this. 

Well, even if you cannot afford to replace all vehicles with electric counterparts immediately, you should think of a consistent strategy for doing this in the future — one car at a time, if necessary. 

Besides, there are other, often more affordable, opportunities for making your operations greener — recycled packaging, digital signatures instead of physical paper, even planting trees, or donating money to organizations that plant trees or engage in other green initiatives. 

You can also form partnerships with companies in the same industry and participate in joint green initiatives — for example, beauty & wellbeing brands Unilever and Dove, working alongside UNICEF on water sanitation. 

Search for sustainable business partners. 

Few corporations can ensure an entire production cycle in-house, and it is crucial to search for partners who prioritize sustainability in their operations. 

Once again, this step may require a careful audit of your current practices and partnerships, but the effort should be well worth it. Here, the key aspects to focus on are renewable energy and carbon footprint minimization

The last one also depends on the constant search for ways to minimize greenhouse gas emissions — something all leading corporations, from Siemens to Ford, are actively investing in.

Consider a take-back policy.

Another great way to minimize your carbon footprint is to initiate a take-back policy on your goods. Whether you are producing vehicles or consumer electronics, it is still a great way to promote corporate sustainability and score some points for your brand. 

One more perk of this approach is that it also helps companies reuse the old items in their new production cycles, thus improving corporate recycling capability and minimizing production costs — something we already mentioned at the beginning of this article. 

But that is truly how sustainable business strategy works. When you search for sustainable ways to run a company, you see that many available policies supplement and improve each other without contradiction. 

Explore renewable energy sources. 

Once again, it seems apparent that when you can use renewable energy, you should. But there is a catch — another business audit and constant assessment. You should not only reassess your carbon footprint — it’s best to do the same for every partner in your supply and production chains. 

Besides, adopting such a policy will be yet another incentive to keep searching for more sustainable business partners, which often results in replacing your current suppliers with more profitable offers from competitors. 

Collaborate with eco-friendly nonprofits. 

Collaboration with green nonprofits is not only a way to promote your brand’s sustainable image and score a few marketing points. It is also an excellent opportunity to have your whole business strategy reevaluated. 

Companies engaged in environmental initiatives usually understand more about sustainable business-running practices than most CEOs. This means they can help you reassess how to run your business and find new sustainable solutions to replace non-green practices. 

Switch to remote work whenever possible. 

remote work for sustainability

This tip may only suit some businesses, of course. But think for a moment — the global economy survived the Covid lockdown, even with a few losses. So, if there is any way for some of your employees to work remotely (at least part-time), you should definitely consider switching to remote. 

It may seem like a small contribution to environmental protection — after all, how much petrol are your employees using to get to work, especially if so many do not drive electric cars already? 

Well, you’d be surprised if you objectively assessed the actual CO2 emission rates from a single enterprise’s employee commute routes. Besides, every step in the green direction might seem small, but eight billion of us are on this planet. And even if a quarter of the world’s population started making one small step every day, we’d all see a change for the better — and soon. 

Conclusion

Those are some of the top initiatives to help you develop a more sustainable business policy. The more of them you implement, the better. After all, you’ve probably noticed that sustainability is not just about investment in our planet’s future but also the investment into your company’s future. 

Many of these practices will help you reduce production costs while ensuring that a new, environmentally conscious generation of consumers and employees stay loyal to your brand. 

  • Luke Rooks

    Luke is a passionate environmental advocate based in upstate New York. When he's not sharing tips on sustainability and wellness, you can find him hiking with his dog, Max.

What do you think? Leave a comment!