Why is sustainability in business so important?
- Every organisation strives for peak efficiency and steady sales for reliable profits that underpin an enduring enterprise. Although these business basics remain true, there is now an urgency for businesses to transition into being sustainable business, sometimes known as ‘green businesses’ or ‘social responsible corporations’.
- Consumer demand, regulatory changes, financial institutional trends and community awareness all require businesses to adapt to a changing business environment.
- Finite extractive resources are increasing in costs as the extraction process increases in difficulty to access.
- Renewable resources are reducing in production levels as natural processes are degrading with loss of biodiversity.
- Businesses that understand the need to change and gain the eco-advantage will weather uncertain times.
- GreenKPI identified and removed the barriers to change, being time, cost and knowledge.
- Presenting organisational sustainability to stakeholders builds brand trust and a competitive advantage. This is important as society demands action on environmental, social and economic challenges, particularly those associated with climate change.