Sustainability in the Business World

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Sustainability in the Business World

8 Aug 2022
- admin
- Student Careers
SOIL is a one of a kind ‘Business School’ that provides integrated education to serve the purpose of building well being of one and all. It believes in creating the ‘Leaders of tomorrow’ enhanced with the 5 pillars that SOIL stands for, which are:
- Mindfulness
- Compassion
- Sustainability
- Ethics
- Diversity
Talking about one of the important pillars of SOIL ‘Sustainability’, which is simply a holistic approach that considers ecological, social and economic dimension, in which all are considered together to find long term peace and prosperity. SOIL supports this strongly as what we are learning in our courses on “Whole systems thinking” that makes aware of these dimensions.

Sustainability in the Business World

Today we can see that many companies are adopting a Sustainable model at the core of their sourcing, production and distribution to make sure our world continues to be habitable for all and for coming future. To be sustainable, a company must be able to be maintained at certain rate or level which can be done through certifications, audits, or other form of accountability. Through Sustainability, companies position their impact on community and environment as critical measurements of success. ‘Eco-friendly’ companies embody positive social and environmental impact at their core. Environmental Sustainability is one of the most attention seeking need of our time. Threats like global warming, rising sea levels, frequent wildfire make us all think about what to do next. But many organisations have already started figuring out these issues and initiated activities and programs to save and protect our environment through various means.

Corporate sustainability is also one of the growing concerns among investors who are not only seeking economic profit but also social good. They can improve their environmental sustainability by reducing their carbon footprint and other wasteful practices. If any company follows a sustainable model in their business, then they also get many advantages such as reduction in their business cost, improving their business reputation, competitive advantages and increased bottom line.

Many companies are presently focusing on sustainable models for their business, such as:
- Apple: Their goal is to reduce carbon emission and to partner with the companies who share similar values. Recently, Apple has stopped shipping a charger in the box for their smartphones which they think benefits the environment by reducing carbon footprints. They also use aluminium instead of other materials so that they produce lower emissions.
- Google: A well known brand, is already ahead in the game. Their data centre uses 50 % less energy than most and 91% of their total waste is diverted from landfills. They also contribute to the protection of critical marine habitats by providing tools for sustainable fisheries and many more environment focussed programs.
- IKEA: A Swedish multinational company which designs and sells ready-to-assemble furniture, kitchen appliances etc, has also initiate several steps towards sustainability. Their manufacture products using sustainable materials and 91% of their waste is recycled.<
- Intel: A well-known technology company claims to recycle 75% of its total waste. In the near future, they are moving towards achieving zero hazardous waste, which is currently going to landfills.
- Unilever: A multinational brand for consumer goods, has been making tremendous environmental efforts. They plan to cut their carbon emissions in half by 2030 by encouraging sustainable growth.
- Accenture: They provide services in strategy, technology and operations and have also reduced their employee’s carbon emission by 52%.
- TATA: One of India’s largest group emerges as the top sustainability leader in the Asia Pacific. They are also focussing on reducing CO2 emissions, adopting renewable energy, minimising industry effluents and preserving the biodiversity in their area of operations.
In conclusion, sustainable companies are those that operate in the interest of all present and future stakeholders and those that ensure the long-term health of its associated economic, social and environmental systems. Learning about sustainability at SOIL and understanding its real-world practices and implications has helped me adapt to the new business world for which these methodologies are not only important, but also imperative.

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