What are the Environmental Responsibilities of Business?
Updated: Nov 4, 2018
Last week, we looked at the social responsibilities of business. Today, we delve into how businesses can act in an environmentally responsible manner.
A large part of business' commitment to environmental sustainability can start internally. What is a business' consumption of energy, water and gas? Can the supply of any of these utilities be greener? In most instances, renewable or green supplies of energy tend to save money, providing an economic incentive to look to act sustainably. Carbon neutrality is also becoming a growing trend in business with more and more businesses looking to offset their carbon emissions. Some businesses even give their customers a choice as to whether or not they want to take the carbon neutral option. When I fly, I always opt to pay the extra few dollars to offset my carbon footprint along my journey.
Businesses can also commit to environmental sustainability through the supply chain. By ensuring all or a majority of products used by your business are friendly to the environment, you can take another step forward in your environmental sustainability commitment. You can also actively seek suppliers who have their own commitment to environmental sustainability. As each business makes their own transition towards a more sustainable supply chain, other businesses will feel pressure to follow suit, creating a ripple effect throughout the business community.
Businesses which are looking into using renewable products now will find they have a greater chance at sustaining as a company into the future. Businesses who use non-renewable resources will eventually need to find new resources once the ones on which they currently rely are depleted. By making this transition now or exploring this transition now, businesses can save money and reap greater success from their economic modelling.