Five trends in sustainable business
For any business, large or small, sustainability is a hot topic for 2015. Increased pressures to reduce costs, improve efficiencies and ‘green up’ means many business owners are looking to more sustainable business practices in order to maintain profitability. Here are five key areas which are set to be high on the business sustainability agenda for the coming year.
1. Focusing on supply chain sustainability
As well as their own sustainability objectives, many businesses are looking to their supply chain to increase sustainability too. Saving money through a reduction in waste and resource efficiency makes good businesses sense at any level, and by refining their choice of suppliers and the way those suppliers operate can have valuable benefits. As well as energy focussed targets, many businesses are starting to look towards more ethical practices too, considering issues such as Fairtrade and environmental impact when choosing their suppliers.
2. Aiming higher
Energy efficiency and carbon reduction has come a long way in the past decade, and targets which were ambitious ten years ago may not be so hard to achieve today. Many large businesses are already republishing their public carbon reduction targets, and it is expected that small and medium enterprises will follow suit. These targets may well be expanded laterally too, to include things like water efficiency, sustainable suppliers and local environmental projects.
3. Innovating business models
No business wants to get left behind, and as resources become more scarce and environmental issues more pressing, many are looking at ways of changing the way they are structured, in order to remain profitable. Group buying, peer to peer sharing and bartering of services can all help companies to become more future proofed, and are set to be on the rise across the board in 2015.
4. Saving water too
With the devastation we have seen caused over the past couple of years by flooding in the UK, it comes as little surprise that the wet stuff is on the mind of business owners in Britain. Water risk comes in many shapes and forms, from considering the amount being used to identifying the impact of polluted water leaving the business operation. Managing water effectively has immediate benefits for businesses in terms of expense, and can also set a precedent for staff to follow in their own lives at home.
5. Challenging consumer behaviour
A business which has followed the sustainability path for some time will no doubt have put most of its own house in order. That’s the easy part. Tackling the behaviour of their customers to reduce the onward impact of their products is a whole different kettle of fish. However, despite this, many businesses are starting to take up the challenge of giving out a greener message to their clients too.
Overall, 2015 looks set to be an exciting, inspiring year in terms of sustainability in business, and brings with it the prospect of seeing many companies, large and small, really starting to innovate for the future. Reducing cost is often at the heart of these changes, and making sure your business is with the correct supplier for your needs is crucial. Talk to Simply Business Energy today on 0800 3134213 or visit our quote page to get an instant quote.
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