Why should sustainability be on your business agenda in 2021?

The year 2020 was a year of reflection. It gave us time to evaluate what we were doing right and what could be improved on. This applied to everyone from individuals to businesses, and one of the main conclusions drawn during this period of self-reflection pointed to the need for more responsible business practices.

Sustainability is no longer just a word shining bright on business agendas and the vision and mission statements of organisations – it is a necessity, and even more so now, as the world fights a pandemic that altered business strategies and goals almost overnight.

In the beginning, adopting sustainable business practices might seem daunting and the transition might feel impossible, but this way of doing business has the benefits that are compelling enough to make you rethink your business model. You can begin with small steps towards making your brand a sustainability-led, environment-friendly, and socially-conscious one.

Here are five reasons why sustainability should be on your business agenda in 2021.

1. Consumers are interested in ethical, sustainable products and brands.

Recent years have seen a gradual but definite increase in consumers favouring brands and products that are sustainable, eco-friendly and come from brands that are active in corporate social responsibility, making a positive difference to the society. If you want a favourable image of your business among consumers, sustainable is the way forward.

2. It makes you a responsible business.

The biggest reason to push you towards sustainability is that it makes you a responsible business, which means that, in one way or another, you are giving back to society to become part of world development and leave a mark on society. Nothing works better than sustainability in building a brand for generations to come.

3. It presents huge opportunities for growth.

Sustainability-marketed products are growing at least five times faster than non-sustainable products – a trend that has been observed in recent years. It therefore offers an enormous opportunity for growth and development in the years to come. In order for a business to thrive, it is important to be where the pulse of growth lies and to be linked to the overall global movement – sustainability and green business at this time and expected to continue.

4. It reduces business costs.

Going green—like using cloud computing and artificial intelligence instead of paper work, or using eco-friendly LED lights for day-to-day functioning—may seem a costly affair, and rightly so. However, once implemented, you will save costs in the longer run. You end up investing in your future, a move that will add to the overall benefits to your business.

5. It enhances the competitive advantage.

The overall performance of your business depends on how well sustainability is integrated into your products/services. Studies have shown that sustainability-oriented enterprises are more successful than others and better accepted by consumers. If you are an ethical business, you will enhance your competitive advantage.

It won’t be an overstatement to say that ‘SUSTAINABILITY’ is the future of the business world. So, if you desire to be the future, you need to be sustainable in your business and approach.

 

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