Sustainability is more than a fun thing to talk about and ponder.
It’s needed.
Sustainability is important because the world’s resources are finite, and if we continue to use them at the current rate, we will eventually deplete them.
Serious consequences.
The consequences for the environment, the economy, and society as a whole would be astronomical. Additionally, many resources we rely on, such as carbon-based fuels, have negative environmental impacts when extracted or used.
Sustainability is a highly intentional and pragmatic emphasis seeking to address these issues by finding alternative ways to use resources without compromising the ability of future generations to meet their own needs.
By adopting sustainable practices, we can help protect the planet and its natural systems, reduce pollution and waste, and ensure that all people can live healthy, productive lives.
You’re likely wondering why a company would care so much about sustainability. Beyond fitting in with our high standards for doing the right thing for our colleagues and customers, there are logical business factors that drive sustainable innovations and investments.
Here are some of the reasons why companies like yours should care about sustainability:
- Financial benefits: Implementing sustainable practices can help a company reduce costs by reducing energy use or waste. The company could save money and increase profits.
- Risk management: Companies that are not sustainable may face regulatory fines, legal action, and negative publicity. Brand reputation is a powerful business dynamic that poses a risk. A company can reduce its risk of encountering these types of issues by being sustainable.
- Customer demand: Many consumers want sustainability. They are growing increasingly aware of the environmental and social impacts of the products they buy, and they may prefer to purchase products from companies committed to sustainability.
- Employee attraction and retention: Sustainability can be essential for many job seekers, and companies committed to sustainability may be more attractive to employees.
- License to operate: Companies rely on natural resources, such as water and forests. By being sustainable, a company can ensure that it has a long-term supply of these resources and can maintain its “license to operate.”
- Social responsibility: Greif cares about sustainability because we feel a sense of social responsibility to operate ethically and responsibly. We want to contribute positively to society and leave a positive legacy for future generations.