Sustainability is more than just a business buzzword. As severe climate-related incidents like the Maui wildfire continue to make headlines, sustainability is becoming a very real concern for businesses and customers alike.
In fact, nearly 80% of consumers in the United States say they consider sustainability in at least some of their purchasing decisions. And 70% will actually change their shopping habits if they discover that a brand or store they use isn’t operating in a sustainable manner.
Making a meaningful effort to help make the world more sustainable is no longer just about trying to do good for the planet. It can have a very real impact on your bottom line. If you want to put your business and the world on track for a more sustainable future, strategic collaborations are the solution for cleaning up your supply chain, reducing energy consumption and more.
1. Cleaning Up the Supply Chain
One of the biggest areas where businesses can work with partners to make a sustainable impact is the supply chain. It is estimated that over 90% of an organization’s greenhouse gas emissions stem from their supply chain. Any effort directed at making supply chain operations can have the biggest overall impact on your sustainability.
Businesses must analyze the sources of emissions that exist within their current supply chain in light of how their current partners operate. Generally speaking, businesses have two main options: work with their current supply chain partners to find ways to implement more sustainable solutions, or switch to a more sustainable supplier.
Addressing your supply chain is crucial for building and maintaining a credible reputation of environmental leadership. If your internal operations are sustainable but you use high-emissions supply chain partners, your business is still having a net negative impact. Working with partners to clean up the supply chain proves you are committed to sustainability in all areas. For example, while IBM sets strict sustainability standards for its supply chain partners and conducts audits to ensure compliance, it also provides tools and resources to help its partners attain these requirements.
2. Sustainable Alternatives to Standard Products
One advantage that today’s businesses have is the growing number of potential partners who are specifically focused on developing sustainable alternatives to standard products.
Take the sticky problem of plastic food wrap. PeelON — a food packaging company — developed an award-winning transparent food packaging wrap designed to be environmentally friendlier than existing plastic wraps. PeelON’s solution is 100% biodegradable and extends the shelf-life of fresh produce by up to three times its normal life. This is significant when you consider the world wastes over 1.3 billion tons of food each year, resulting in roughly $1 trillion in losses from food spoilage. And of course, this product addresses how conventional plastic food packaging wraps are not environmentally friendly.
Taraka Ramji Moturu, co-founder and CEO of PeelON, is on a mission to reduce food waste while also providing a renewable and compostable alternative to fossil-based plastics. “By both reducing food waste and being biodegradable we are tackling a big problem from two angles,” he says. “First, it counters the environmental harm that can occur from these common issues. However, it can also improve profitability for companies by reducing their losses due to spoilage. Essentially, we’re able to create a win for the environment while also helping companies maintain their profitability. Going green really can be a win-win.”
Developers of sustainable business products such as PeelON understand that companies are looking for ways to control and improve their profit margins. Identifying the benefits offered by sustainable alternatives to the materials and products currently used by your business can help decision makers feel more comfortable with needed adjustments.
3. Save Energy
Saving energy to reduce your office’s carbon footprint can be so much more than buying LED lightbulbs or EnergyStar-certified equipment. It is well worth exploring other energy-saving alternatives such as using solar panels for energy generation, installing smart lighting and thermostats or even encouraging remote or hybrid work so you can downsize your office space.
So how do strategic partnerships come into play here? Look for organizations that focus on helping businesses become more energy-efficient through services such as an energy audit. Just like a home energy audit, a professional business energy assessment can help you identify specific strategies to save energy, such as adding insulation, sealing ducts or addressing needed repairs.
Working with a certified partner for this is crucial in leveraging their knowledge and expertise to identify the specific actions that will have the greatest impact on your energy usage. It’s estimated that implementing basic energy efficiency measures can help startups reduce their energy bills by as much as 25%.
4. Seek Charitable Partnerships
Volunteering and making donations may not be the first things that come to mind when trying to make your business more sustainable, but charitable partnerships can help you make a powerful impact on your community and the world at large. Many charitable organizations are directly linked to environmental causes, but a wide range of partnerships can help the environment.
For example, if you were to donate gently used office equipment to a local charity instead of throwing it away, you avoid filling up landfills. That used equipment goes to help other people in need.
You could even tie your charitable partnerships to organizations that directly offset your carbon emissions (like groups that plant trees or take other environmental actions). It is well worth looking into charitable organizations on a local and national level to identify partnership opportunities.
Whether you simply make a monetary donation from your profits, donate products or equipment or have your staff volunteer, finding ways to give back can help drive your sustainability goals. Notably, some nonprofits can also help you develop a sustainability plan or identify methods to reach your organization’s goals.
Working Toward a Sustainable Future
Transforming your business to be more sustainable doesn’t happen overnight. It requires consistent, ongoing effort to reduce your carbon footprint and do good for the planet.
With the right strategic partnerships, you can clean up your supply chain, find sustainable alternatives to the products and materials you use, reduce energy consumption and more. Strategic partners will enhance your current efforts and help you achieve your sustainability goals faster and more effectively.
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