The main goal of eco-sustainability is to reduce the environmental impact of every action as much as possible so that future generations can also enjoy the planet’s resources.
Implementing corporate sustainability policies makes it possible to attract more customers and suppliers. Which benefits the company’s economic balance sheet, thanks to higher revenues from the reduction of costs – for example, energy-and processes that are sometimes too poorly digitized, and therefore not environmentally friendly.
Elkington’s Triple Bottom Line: the three pillars of sustainability
In the second half of the 1990s, John Elkington, a senior consultant in the field of corporate social responsibility and sustainable development and founder of the international organization SustainAbility, coined the expression Triple Bottom Line. TBL signals to companies the need to report on the three main dimensions of their performance. Namely, economic, social and environmental, through a single document for investors, customers and stakeholders.
To generate results and be competitive in the market, it is necessary to implement a business strategy that includes the so-called 3Ps. The three P’s stand for Planet, People and Profit. These three terms stand as the foundation for an environmentally sustainable business, which must think, plan and act environmentally and socially without setting aside what concerns economic revenue.
Adopting environmentally sustainable strategies brings competitive advantage
Businesses are increasingly adopting processes that lead to having a more or less environmentally sustainable strategy, a strategy that brings new forms of competitive advantage.
The spread of practices such as carbon footprint calculation has revolutionized the approach of companies even more. Companies are therefore looking to the future with increasing attention to the environment, putting sustainability at the center of business strategies.
One of the first sectors to undergo this change is packaging, through the creation of products made from recyclable materials. But there are also those who aim to reduce the water and carbon footprint of the production chain, to know the environmental impact and find the tools to reduce it.
Read also: 5 eco-friendly alternatives to plastic packaging that companies are starting to adopt
Eco friendly companies and corporate reputation
Decreasing plastic consumption, choosing less polluting solutions, aimed at sustainable development, energy saving, is only possible with the contribution of companies. It is a chain that starts from production.
The good intentions of consumers remain as such without careful choice on the part of companies. There must therefore be total integration from the entire production and consumption chain so that the goal of environmental protection can be achieved.
The green choice is also a business choice. A company that introduces green elements not only respects nature, but also pays attention to customer needs. This shortens the distance and creates trust in consumers, who sense a real and constant commitment on the part of the company.
Indeed, a company’s reputation is the credibility it has in front of society, regarding issues that society considers fundamental.
How much does the role of the consumer play and the benefits of environmental certifications
New technologies and consumer expectations greatly affect companies’ choices. An integration of tools, ideas, and practices that pass through the figure of the consumer who is becoming increasingly active in the process of creating corporate value, so much so that he or she is called a prosumer.
A role that detaches itself from being passive to production processes, but rather participates actively in the processes of creation, production, distribution and consumption.
Given the growing consumer interest in environmental issues, companies are adopting green policies that allow them on the one hand to meet and satisfy the new demand and on the other hand to decrease their environmental impact.
Environmental certifications, such as carbon footprint, environmental product declaration and sustainability certifications required by online sales platforms, such as Amazon, bring important benefits to companies as they enable consumers to make more environmentally conscious choices.
Read also: Corporate sustainability: why it is increasingly crucial for businesses