A corporate sustainability strategy is useful for businesses who are looking to improve their efficiency, productivity and innovation. Such a plan will help to reduce carbon footprints throughout the logistics industry, and many others, as well as address numerous worldwide issues that can be detrimental to the success of a company. What is a sustainability strategy, why do you need one and how can it benefit your business?
A corporate sustainability strategy is a plan that’s put in place for corporate companies to lower carbon footprints, increase efficiency and drive innovation. Having a solid sustainability strategy will give a business the potential to cut costs and thrive overall. It has the ability to generate fresh opportunities, empower and motivate employees and even engage any stakeholders you might have.
As an increasing number of people are choosing companies who are eco-friendly and who have adopted sustainable practices, having a water-tight corporate sustainability strategy will also do wonders for your brand and make you seem far more attractive to prospective customers in comparison to your competitors.
A corporate sustainability strategy is extremely important for businesses today. This is because such strategies can be used to help and address a wide range of different global issues, such as the following:
Sustainability strategies also have the ability to contribute to a company’s overall, continued, success. Although implementing a sustainability strategy will incur a cost initially, it’s important that businesses see it more as an investment rather than wasted money. A robust sustainability strategy can actually boost a company’s profits.
Environmental, social and governance (ESG) metrics are often used to measure how sustainable and ethical a business is. In fact, companies with some of the best ESG ratings repeatedly outperform in the market they’re in, both for the medium and long term, according to McKinsey.
A business will be able to benefit from having a corporate sustainability strategy in many ways and Charnwood lift Trucks are on hand to explain those advantages to you. Your company will be able to benefit in the following ways:
The right strategies and practices can enable you to build a solid reputation and draw in customers. Doing both of the aforementioned will also help to secure a happy workforce and valuable financial resources which, in turn, will keep your business on track for continued success.
In addition to that, by understanding and initiating a sustainability strategy, you’ll be allowing employees to work in a safe and happy setting whilst simultaneously protecting the environment. This will result in the reduction of your carbon footprint as well as reduce the risk of accidents occuring.
Although sustainability shouldn’t detract from other business goals, giving your company purpose will help to attract a skilled, motivated workforce that’ll, in turn, drive financial success.
A study showed that 89% of executives believe that a business with a shared purpose and ethos will be able to achieve greater worker satisfaction. In the same study, 85% of those asked said that they were extremely likely to recommend a business with a strong purpose to other people.
According to a study done in 2019, 73% of consumers around the world are willing to change their purchasing habits in a bid to reduce their carbon footprint. As such, the sales of sustainable products have considerably increased, equating to a 20% rise since 2014 – found in the same 2019 study.
It was also found that millennials are more likely to make greener choices when it comes to their consumer behaviour and that they’re also willing to pay more for sustainable products or items that have social responsibility claims. If your products and/or service commits to social and sustainable change, then you could end up gaining market share which will increase sales as a result.
Charnwood Lift Trucks are on hand to provide new and used material handling equipment, including forklifts, reach trucks, order pickers and more. All of the machinery we have is of the highest quality and calibre and so you’ll always be able to count on us to provide your business with everything you need to ensure efficiency and productivity. For more information, get in touch with a member of our expert team today – we’re always happy to help.