Corporate Sustainability is on the Rise – Along with Sales and Savings
Corporate Sustainability Pays Dividends
Sustainability is defined by the EPA in the as having the purpose “to create and maintain conditions under which humans and nature can exist in productive harmony, that permit fulfilling the social, economic and other requirements of present and future generations.”1 Investment in corporate sustainability is on the rise and is yielding extremely positive results. According to a recent survey by the consulting firm Pure Strategies, companies are reporting the following:2
- More than 80% of companies expect their sustainability budget to increase from 2016 to 2017, with 1/3 expecting a double-digit growth.
- Approximately $800 million gained from increased sales.
- $800 million in manufacturing cost savings.
- Additional earnings in risk reduction, productivity gains, and enhanced growth opportunities adding up to billions of dollars in value.
Those surveyed are taking a proactive approach to the future of their business using sustainable means.
How to be More Sustainable at a Corporate Level
Some companies are committing to using safer materials while others are adopting policies against hazardous chemicals, and others creating sustainable sourcing plans. The use of safer materials is expected to grow from 64% of companies with these well-advanced programs to 79% in 2019. The survey found that the number of companies using renewable energy is expected to grow from 26% in 2016 to 46% in 2019. In that time frame, some of these firms will rely heavily on renewable power purchase agreements.
Kathleen McLaughlin, Senior Vice President and Chief Sustainability Officer for Walmart says, “Companies know sustainability is good business. Strengthening product supply chains and other systems today will benefit customers, business and society tomorrow.”4
For companies that are just getting started with implementing sustainable practices, Contemporary Energy Solutions is the best partner they could have. They will perform a free energy audit to help companies see opportunities for energy savings!
Corporate sustainability is no longer a thankless effort. Companies are seeing results and have documented growth in profits and savings in multiple areas. Sustainability is paying off!
1 Learn About Sustainability | US EPA. (2014). US EPA. Retrieved 16 January 2019, from https://www.epa.gov/sustainability/learn-about-sustainability#what
2 Pure Strategies, Solutions for a Sustainable Future. (2019). Purestrategies.com. Retrieved 16 January 2019, from http://purestrategies.com/downloads/reaching-the-new-corporate-frontier
3 Corporate Sustainability Yields Increased Sales & Cost Savings. (2017). Environmental Leader. Retrieved 16 January 2019, from https://www.environmentalleader.com/2017/03/corporate-sustainability-efforts-yield-millions-increased-sales-cost-savings/
4 Corporate Sustainability Yields Increased Sales & Cost Savings. (2017). Environmental Leader. Retrieved 16 January 2019, from https://www.environmentalleader.com/2017/03/corporate-sustainability-efforts-yield-millions-increased-sales-cost-savings/