Business sustainability: what it is, importance and challenges for companies

With 87% of the Brazilian population preferring to consume products and services from sustainable companies, it is increasingly evident that long-term success cannot be achieved just by thinking about profits. Thus, together with a global concern for the environment, comes into focus on corporate sustainability.

Be it when we think of companies Enterprise or startups, corporate sustainability is not only a moral responsibility, but also a Smart strategy for business. After all, companies that adopt sustainable practices gain a competitive advantage, being perceived as more reliable and responsible by consumers.

The fact is that demand for sustainable products and services is growing, and companies that anticipate this trend are more likely to Stand out in the market. Therefore, how about exploring business sustainability and understanding how Clicksign can you help your company become more sustainable?

What is business sustainability?

The concept of sustainability in companies is intrinsically linked to the concept of sustainable development. According to the United Nations (UN), sustainable development is “one that meets present needs, without compromising the ability of future generations to meet their own needs”. Therefore, this concept considers the balanced interaction between economic, environmental, and social aspects.

In the business context, sustainability implies adopting practices that aim not only at immediate profit, but also at the preservation of natural resources, the minimization of environmental impacts, and the promotion of social well-being. It is an approach that recognizes the interdependence between economic success and environmental conservation, in addition to respect for society as a whole.

Pillars of business sustainability

To achieve full business sustainability, it is necessary to encompass a cyclical process, which begins with the tripod of sustainability and permeates the ESG (social, environmental and tata):

• Social: aims to combat inequalities.
• Environmental: focusing on the environment, this pillar monitors the use of natural resources and their consequent scarcity.
• Governance: at a combination of the first pillars, governance states that it is necessary not only to take care of society and the environment, but also of the administrative part. This involves transparency in financial information, business ethics, and others.

Main objectives of business sustainability

The main objectives of business sustainability seek to balance economic, social and environmental considerations, promoting responsible and conscious business practices. Thus, sustainable companies are those that seek to integrate sustainability into all areas of their activities, from supply chain to internal management, including the development of products and services.

They adopt practices and technologies to reduce energy consumption, optimize the use of natural resources, minimize the generation of waste and pollutants, promote corporate social responsibility, and engage in projects and partnerships that contribute to sustainable development.

Main benefits of sustainability in companies

Business sustainability can bring numerous benefits to companies. A company that cares about people and the environment has a competitive advantage over those that don't give that value to their products. In addition, adapting to be sustainable involves a series of innovation practices that strategically leverage that company's products and services.

In other words, adopting more sustainable production not only contributes to the protection of the environment and social well-being, but can also bring significant economic benefits to the business. Check out some of them:

Reduction of operating costs

By adopting sustainable practices, such as the efficient use of energy and water, the recycling of waste, and the minimization of waste, it is possible to reduce operating costs. For example, the implementation of energy efficiency measures can reduce electricity costs, while the use of technology such as electronic signature reduces the cost of paper and the transportation of physical documents.

Increased efficiency in the supply chain

Sustainable production involves evaluating and improving the entire supply chain, from obtaining raw materials to delivering the final product. Optimizing this chain can result in more efficient processes, reduced waste, and lower consumption of natural resources, leading to a leaner operation.

Improving reputation and brand image

Data from Forbes Do they consider that 92% of consumers trust brands that are environmentally conscious more. Therefore, sustainable production can help improve brand reputation, in addition to add value to customers and attract investors and business partners.

Access to new markets and opportunities

Many governments and institutions have implemented regulations and incentives related to sustainability. Companies that adopt sustainable practices can benefit from these policies, obtaining access to preferred markets, participating in tenders and public contracts, and taking advantage of financing opportunities. In addition, the demand for environmentally friendly and socially responsible products is growing, which may open up new market niches.

Resilience to risks and future changes

Sustainable production generally involves an approach that considers long-term environmental and social impacts. By adopting this perspective, it is possible to become more resilient to future risks, such as resource scarcity, regulatory changes, and changes in society's expectations.

And how can a company become sustainable?

Business sustainability is an ongoing process. That's why it's important to regularly evaluate results and constantly seek ways to improve your practices.

42% of business leaders are leveraging their sustainability activities to drive innovation, differentiation, and business growth through sustainable products.

Learn where to start:

1) Integrate sustainable commitment into your organizational culture

Wrap stakeholders and try to find out who are the people whose lives are positively and negatively impacted by your business. Create a strategic plan and define what sustainability actions and policies will be implemented in the company, in addition to including the impacts and costs of each project.

2) Manage waste efficiently

Implement a waste management system in your company. This involves the reduction of waste generation whenever possible, the recycling of materials such as paper, plastic and metal, the composting of organic waste, and the search for suppliers that have sustainable packaging policies.

3) Encourage your employees

Promote the awareness and engagement of your employees regarding sustainability. Carry out internal campaigns, provide training on sustainable practices, create committees or working groups dedicated to the topic, and encourage the participation of employees in projects and initiatives aimed at sustainability.

4) Corporate Social Responsibility

In addition to reducing your environmental impact, it also seeks to achieve positive social impacts in the community in which the company operates. This can be done through partnerships with non-profit organizations, corporate volunteering, donations to social causes, and investments in education, health, and community development programs.

5) Invest in green technologies

Seek to incorporate green technologies into your business operations. This may include the adoption of more efficient equipment in terms of energy consumption, the use of renewable energies, such as solar or wind, the implementation of monitoring and control systems to optimize the use of resources, and the adoption of digital processes, such as electronic signature, to reduce paper consumption.