Committing to business sustainability is one of the keys to the future. In recent years, the need to build a new economic model with the aim of achieving a social balance while guaranteeing a limited environmental impact has become clear. For this reason, sustainability is one of the priorities for all types of companies. Do you want to know more? Read on and find out how to achieve it.
Table of Contents
1. What is sustainability in business?
Sustainability in business is defined as the need for companies to create economic, social and environmental value by contributing to the well-being of the places where they operate, as well as future generations.
Companies with sustainable development not only seek profitability, but also to protect the environment. They also aim to achieve a fairer distribution of both resources and profits.
Today’s increasingly informed consumers value commitment on the part of companies much more highly, so those that are committed to sustainability have a great competitive advantage. And this is something that can be done by implementing various strategies, including digitalisation.
On the other hand, sustainability is also able to improve brand image, attracting more investors. In the long term, it increases productivity, generating strong employee engagement and reducing costs through cost-saving and reuse measures.
2. Sustainability plan: the roadmap
Sustainability is key for both large and small companies as well as globally. A good example is the Sustainable Development Goals , which are set by prestigious organisations such as the UN. At the business level, to achieve this commitment it is key to develop a proper sustainability plan.
The sustainability plan is a roadmap that reflects a company’s strategy in relation to sustainability. Its ultimate goal is to define the short, medium and long-term objectives and the actions that need to be taken. All of this, bearing in mind that it must operate at three levels: economic, social and environmental.
2.1 Steps to implement the sustainability plan
Any company whose goal is to move towards sustainability must follow this plan in order not to do so in a haphazard manner. Therefore, there are a series of steps that need to be followed:
- Carry out the initial diagnosis.
- Define the objectives.
- Establish the action plan.
- Establish indicators for each objective.
- Implement the sustainability plan.
- Follow-up of the plan.
- Manage the sustainability plan.
3. Sustainable strategies for your company
In this sense, when the goal is to go for sustainability, there are also a number of key sustainable strategies that will help to achieve success in less time.
3.1 Circular economy
Circular economy is one of the best strategies for a sustainable company to follow. It is a development model in which the input of components is reduced in order to reuse those that already exist in the market. In this way, fewer resources are consumed and less waste is produced.
3.2 Fair trade
A sustainable company cares about the growth and well-being of the communities where it operates. This can be done by paying fair wages, as well as improving the living conditions of its employees, suppliers, etc.
3.3 Renewable energy sources
In order for a company to be sustainable in the future, it must not only save energy resources, but also invest in other energy sources, such as renewable energy. This is something that more and more companies are taking into account in order to take care of the environment.
4. Sustainable travel and events, a commitment to the future
In addition to the three main strategies mentioned above, companies, both large and small, can also make small changes that determine their commitment and responsibility towards the environment. This is the case of committing to sustainable travel and events , something that can completely change the company’s impact.
4.1. Sustainable travel
At all times, there must be a close relationship between business travel and sustainability. In many companies, corporate travel is a must, which means that measures have to be taken with the environment in mind.
Sustainable travel must take into account several aspects:
- Reducing the pollutant footprint. There are platforms that help to offset the CO2 emissions generated by business trips, compensating the carbon footprint.
- Avoid carrying paper traveldocuments if it is not essential.
- Have a responsible attitude at the hotel or place of accommodation.
- Choose electric energy rather than transport powered by petroleum derivatives.
- Reduce plastic waste.
- Organise events in destinations that are committed to sustainability.
- Prefer local food.
4.2. Sustainable events
Events can be one of the most important elements for a company. Repeating them regularly is key to knowing that they need to become sustainable. In this way, the organisation’s commitment to the surrounding environment becomes strong and tangible.
For all these reasons, there are several bad practices that must be eliminated and that can be easily replaced by others that are more environmentally friendly. Some of the most important are the following:
- Avoid wasting paper at corporate events through cards, flyers, notepads, etc. Instead, it is preferable to offer digital alternatives that do not involve the use of these resources.
- Think about everything that surrounds the event to ensure its sustainability. For example, if it is essential for guests to spend the night at the venue, it is a good idea to choose a hotel nearby, in order to avoid transport costs.
- Put sustainability first. This way, you will be able to organise the event with sustainability in mind, which will help you to make decisions such as location, lighting, water consumption, etc.
5. Benefits of digitalisation for a sustainable business
The previous point has made clear the importance of sustainability in areas such as travel and events. In this sense, another thing to keep in mind is that digitalisation can play a key role in achieving business sustainability.
Through digitisation, paper waste is avoided through different documents that are very easy to carry digitally on your mobile phone, tablet or computer. Tools such as big data and 5G technology, among others, are key to ensuring sustainability in both the short and long term.
6. Solutions to achieve business sustainability
Sustainability is the ultimate goal of most companies today and digitalisation can be key to achieving it. For this reason, Tickelia becomes one of the most interesting solutions, as it improves the management of company expenses through digitisation.
Tickelia is in charge of digitalising the management of expense notes or company trips using something as simple as a mobile phone. It also allows you to reduce administrative time thanks to automatic settlement and accounting. Click on the banner below and find out all the information!
