They are even collaborating and bringing in experts to help align their business goals towards environment protection. Moreover, consumers have become conscious and concerned about the environmental footprint they leave behind.

A 2019 study found that 77% of the consumers are motivated to purchase from companies committed to making the world a better place. This has also forced companies to come up with sustainable products and services to reduce their carbon footprints on mother earth.

Going by this, plenty of companies and new-age startups who want to create a brand identity for themselves need ways to adopt and incorporate sustainable business practices. But before we jump onto them, let’s first understand why we should embrace sustainable business practices in the first place?

Why embrace sustainable business practices going forward?

Technological advancement has put businesses in a unique position to take a stand and make a difference on environmental issues by embracing sustainability. In addition to driving social and environmental changes, sustainability also contributes to the organisation’s overall success.

A study by Accenture states that 73% of executives believe becoming a truly sustainable and responsible business was their top priority. Moreover, the same study found that sustainable organizations deliver more value with a 21% higher EBITDA margin and 21% higher sustainability performance.

Due to this shift of perspective from companies as well as consumers, sustainability has become a necessity. Corporations find it crucial to address the gaps and want to embrace sustainable business practices for a bright future ahead.

But often organisations that preach about sustainability lack the necessary means for its implementation. Let’s go over some ways for organizations to adopt and embrace sustainable business practices.

The year 2022 will be great for entrepreneurship, sustainability, tech automation, and many other things. Here, we look for the ways entrepreneurs and business owners can embrace sustainable practices in 2022.

1. Develop a sustainable leadership mindset

The true adoption of sustainability begins with developing a sustainable leadership mindset. Every leader can develop a sustainable mindset by not only thinking at an individual level with limited space but at a global level, as a citizen of the world.

It starts with developing a long-term vision for the company, practicing mindfulness in decision making, and gathering the courage to stand up for what you believe in. Developing a sustainable leadership mindset is necessary but not enough. It also demands the right skill sets and leadership attributes that drive the sustainable transformation from insider out. Let’s see attributes for a sustainable mindset:

• Multi-level systems: the first attribute is multi-level systems that incorporate larger business, societal, and environmental systems.
• Stakeholder inclusion: leadership is not about managing your stakeholders, but it is about including them.
• Disruptive innovation: leaders with a sustainable mindset challenge the traditional approach and go above and beyond for the possible disruptive innovation in their business/industry.
• Long-term activation: staying on the course of business sustainability for the long term takes courage and consistency even in the time of setbacks to make unpopular decisions.

2. Change in active commuting

The pandemic has undoubtedly shifted the world order. The good side of the story is it has aided or can say forced businesses to become sustainable. Initially, it took a toll on companies to change their approach since people stayed at home for work.

Corporations had to go through the change of management to develop a new business model that supports their sustainability goals. Thanks to this change management process, businesses can now implement sustainable commuting through cycling, which also helps break the sedentary workday.

The benefits of the same were actively reduced usage of cars, buses, and trains and increased usage of e-bikes as the active means for commuting. As per a report published in the Guardian, sales of cycling equipment rose by 500%.

But as people start returning to the office, it’s essential businesses do not lose sight of their sustainability goals. They should encourage employees to refrain from using public transport and change the traditional means of commuting with e-bikes or e-scooter.

3. Research new sources of clean energy and sustainable necessities

Another way to embrace sustainability in your business is to research new sources of clean energy & day-to-day necessities. Investigate renewable energy sources for your business other than solar panels. Or you can partner up with clean energy producers for your cause of sustainability implementation.

To truly bring sustainability into your business, avoid buying necessities you already have. And even if you have to purchase many day-to-day necessities, select the brands that prioritize zero-waste and are plastic-free.

4. Start investing in innovative sustainable ideas

There is still a lot of potential to be explored for sustainability transformation. Established companies and even new startups can think in the direction of investing in innovative sustainable ideas.

There will be plenty of environmental challenges, which will require cutting-edge technology, new business models, and sustainable habits. The modern world of today really needs corporations and startups to innovate and invest in sustainable ideas for the world to remain a habitable place for coming generations.

5. Incorporate a sustainable strategy and set targets

A sustainable strategy is something that businesses develop and implement to achieve their financial, societal, and environmental sustainability goals. To translate your company’s vision to reduce carbon footprints requires more than just a decision.

Your sustainable strategy needs to be operational by establishing realistic, science-based achievable targets. These targets should be clear, concise, and transparent for not only your stakeholders but for your consumers as well. Through a defined strategy, small businesses can easily incorporate and scale their sustainable business practices within their organisation.

6. Bring in an expert on sustainability

It’s great that you have started adopting and embracing sustainability in your business. But there are quite a lot of things that you may still not know about and may need help from experts. If you are not sure how to become a sustainable and environmentally friendly company, bring in an expert on the subject.

It will help you focus on creating a roadmap for the future as well as provide your team with necessary information. As mentioned earlier, consumers have become conscious about their choices and how they impact climate change. Thus, it’s critical for companies to embrace this increasing tide of sustainability.

Aside from the obvious benefits, sustainable business practices help boost customer loyalty, staff morale, and retention. It’s vital that your company isn’t only preaching about sustainability but actually implementing and adopting the practices. And bringing in an expert on the subject literally conveys and shows how dedicated you are towards the environmental cause.

Wrapping up

Sustainability is not only about climate change or environmental challenges, it’s also about the people, the society that we live in. The environmental crisis is far too complex and bigger than one person or company to resolve. It requires collaboration and not competition in order to provide ground breaking solutions for the success and sustainable future of businesses.

The role of sustainability in the success of a business is imperative today. If companies like Nike, Toyota, Tesla, Chipotle, Ikea, Whole Foods, and others can embrace sustainable business practices, so can you.

These companies forecasted the change in the business sphere and embraced sustainable business practices from an early stage. Now, they have become a billion-dollar company. So, all we can say is the future looks sustainable and bright.