What is sustainability and why is it important?

Sustainability is about doing good for your business, your customers, your employees, and your community. By being a sustainable business, you can enhance your brand and bottom line, maximize profits and productivity, increase employee retention and recruitment, and reduce your carbon footprint. Adopting sustainable values increases the value of your company.

Sustainable businesses use their values to create value that their employees, community and customers can all identify. Business management standards like ensuring compliance with laws and regulations are at one end of the sustainability spectrum while bringing about social and environmental change are at the other end. In the middle are business policies that improve operations, protect and engage employees, and contribute to the community at large.

Consumers overwhelmingly prefer businesses that focus on sustainability. To meet the growing consumer demand for environmentally friendly products and services, many businesses in the U.S have adapted their business models to focus more sustainability. In doing so, they have not only gained a competitive advantage over other businesses but have also increased their customer base and profits significantly. In a 52-week study comparing consumer purchasing habits for coffee, chocolate and bath products, the weighted average of all three categories showed 3% more growth for sustainable products. This study validates how capitalizing on consumer preferences for sustainability can boost your top-line revenue growth and your profitability at the same time.[1]

A recent study from Nielson (a global measurement and data analytics company), found that 69% of U.S. consumers expect companies to care about the environment. They also found that 85% of millennials and 80% of Gen Z consumers think that business sustainability is extremely important. Consumers have increasingly shifted their buying habits towards businesses that prioritize sustainability in some way.[1]