Climate change is a real and present danger and is not some distant, utopian nightmare. The coastal communities are already feeling the burnt with more cyclones, submerging shores, and reduced aquatic life around coasts. Climate change will continue to adversely affect our planet, our lives, and our livelihoods in more direct than indirect ways.
Scientists claim that human activities have contributed to global temperature rise after the Industrial Revolution, depletion in forest cover, and species extinction to an unprecedented scale.
Sustainability in business needs running the business processes with minimal to no impact on the environment. Green business operations support and maintain the local ecology, reduce their global environmental impact, and keep the community’s best long-term interests, ecology, and the planet at their core.
Sustainability in Business
Sustainability in everyday business operations is a vital concern for many. Many consumer groups demand that products clearly label their carbon footprint and environmental impact.
For investors, sustainable businesses are a lucrative investment opportunity, while for promoters and managements, it means more sales, reduction in costs, tax savings, and enhanced brand.
Sustainability is not only about 3 Rs (Reduce, reuse, recycle) by the consumer; it also needs active intervention from governments and managers to adopt green best-practices in mining, production, service, storage, and transportation.
Running an environmentally friendly business has more than profits as its mission— consideration for the environment, ecosystem, and health of the surrounding people. Impact green-practices is increased profitability for companies, a healthy society, and restoring the environmental balance. By John Elkington, Triple Bottom Line suggests the planet, people, and profits are all important.
Startling Climate Impact Statistics
● The Great Pacific Garbage Patch, an island of plastic garbage twice the size of Texas, is floating in the Pacific Ocean and harming its marine life and people consuming the microplastics found in seafood.
● If left alone, the total annual concrete waste production will touch 27 billion tons by 2050.
● Greenhouse gases and particulate matter (PM10 and PM2.5) are reasons for a temperature increase ofover 1.5 degrees Celsius by 2020, causing rising sea levels and extreme variations in weather patterns.
● Greenhouse gases, particulate matter, contamination of soil and groundwater are directly causing more than 450,000 deaths worldwide, and millions are falling sick because of them.
● Only 100 companies are responsible for 71% of all global emissions, and among them, only 20 are responsible for over 30% of emissions.
● Over three-fourths of consumers have stopped purchasing anything from companies that do not care about the planet.
Final Word
The time to act is now. A concerted effort from management, employees, suppliers, customers, society, and governments is needed for developing sustainable business practices.
Everyone must cut down industrial and auto emissions, safely reuse or recycle industrial waste, increase forest covers, dispose of unusable waste safely, and contribute towards a breathing and living planet.
We are not too late, and the Paris Climate Accord can help businesses reduce their emission by up to 60% by 2030. Companies stand to benefit directly in cost savings, increased revenues, and more significant market share by adopting green policies, technologies, and processes. It is estimated that green business operations can cause $26 trillion in economic benefits by 2030.
