How sustainability can give your business an edge in 2023

How sustainability can give your business an edge in 2023

Both of last year’s COP summits made it pretty clear that we can’t rely on governments alone, and we really need to count on businesses to step up and take a leading role in tackling climate change. Reassuringly, 96% of businesses feel increasing pressure to become more sustainable. Of course, it’s easier said than done, but with a little effort, the rewards for business are plentiful:

✔ Boost competitive advantage

✔ Boost brand

✔ Attract talent

✔ Please stakeholders

✔ Save time

✔ Save money

✔ Save the planet!!!

The list goes on….

When businesses put sustainability in their plans, the list of wins really does go on and on. Both for the planet and for their own commercial success. A McKinsey Global Survey recently found that 83% of C-suite leaders and investment professionals believe ESG programs will generate more shareholder value in five years’ time than they do today.

Sustainable business strategies like reducing emissions and waste production, offsetting unavoidable emissions, and limiting the use of energy, water and raw materials, can massively reduce costs. And, as governments incentivise investment in decarbonisation, businesses can boost revenue by expanding into profitable new markets while enjoying tax benefits and capital allowances (e.g. tax credits, business deductions, and government subsidies).

Sustainability is great for the bottom line, but it also works wonders for the brand too. As consumers are increasingly making decisions based on the environment, sustainable business practices can become a main source of competitive advantage. Loyalty, reputation and ultimately sales can shoot up, and the best people will want to come and work for you. Two-thirds of UK employees have said they’d be more likely to work for an organisation that has strong environmental values.

We’d hope that no right-minded business would want to turn that juicy list of benefits down, but putting sustainability into practice can take a little guidance, particularly for small and medium-sized enterprises (SMEs) who don’t have bottomless budgets to throw at expensive consultants. We’re here to help!

A British Business Bank survey found that SMEs contribute half of all business-driven emissions in the UK. So we really need SMEs in particular to step up and do their bit for the planet. 

The most effective way for SMEs to tackle climate change is to rapidly decarbonise their supply chains, reduce their greenhouse gas emissions and eventually get to net-zero. 

To find out more, click here.

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