Evaluating Green Initiatives: The Key to Sustainable Business Success

Sustainability and success are poised to go hand in hand for the foreseeable future. Corporate responsibility isn’t just a fun perk — it’s expected of companies by consumers and partners, alike. Not to mention, the environment stands to benefit from some initiative by the largest contributor to carbon emissions, the business industry.

While industrial and electric plants are by and large the most damaging to the environment, the state of climate change necessitates a worldwide, industry-spanning commitment to the cause. Sustainable practices are just the start of this process. Your business must continuously evaluate how its green initiatives are performing to stay ethical and environmentally friendly for the long haul. The following tips and techniques can guide you to stay on top of your carbon footprint and how your sustainability efforts can be improved along the way.

The Benefits of Process Improvement

Every business stands to benefit from process improvement across the board. Situations inevitably change, and you need to stay abreast of those changes to optimize your workflow for the best results. If you are committed to perpetual process improvement, you will see:

• Easier identification of gaps and bottlenecks in productivity;
• Faster scaling and growth;
• Increased resilience amidst industry changes;
• Better adherence to regulations;
• Easier implementation of new technology and processes;
• Increased employee and customer satisfaction.

The same can be said about the continuous evaluation and enhancement of sustainability initiatives. Instead of refining your processes to produce a product or provide a service, you are refining how those processes impact the environment. It’s tempting to pick a direction that will hopefully lower your carbon footprint, set it in motion, and never touch it again. However, it’s much more responsible to evaluate the effectiveness of your programs.

Lowering Costs

Most business executives and financial teams are likely already aware of the financial side of sustainability. This is factored in when deciding what route to take, because, as much as organizations want to help the environment, they also don’t want to go bankrupt from doing so. Even if you think you’ve picked the most budget-friendly sustainable practices for your company to undertake, there can still be room for improvement. You can even add on some if your budget still has wiggle room. Consider:

• Providing remote, eco-friendly offices for work-from-home employees;
• More sustainable operations, like warehouse temperature monitoring or ways to produce your products using less water or producing less waste;
• Incorporating used, affordable electric vehicles (EVs) into your commercial fleet or as company cars;
• Giving employees fun incentives to recycle, like a monthly competition between departments.

Just because you paid to offset your carbon emissions, it doesn’t mean there isn’t room for improvement. The more you can refine your processes and regulations to be easier on the environment, the better. Low-cost ways to do this won’t tank your business, and you’ll show a commitment to sustainability beyond a set-it-and-forget-it sustainability scheme.

Finding Diverse Approaches to Common Pitfalls

Once you start evaluating your current sustainability initiatives, you’ll likely come across some hurdles and bumps. There are inevitably areas where you could have been saving more energy, producing less waste, or even investing in a more reliable carbon offset program. Some common pitfalls of carbon offset programs include:

• Canceling out of any carbon offsets, such as paying a company to plant trees but that company also uses those trees for logging;
• Feeling a false sense of relief and choosing to forego recycling and other energy-saving, waste-reduction practices;
• Purchasing used credits, double-counting and inaccurately reporting positive effects;
• Using blockchain technology to purchase credits, adding to carbon emissions through the simple use of that tech;
• Overestimating emissions reductions, either by the company or your own calculations.

Instead of falling for carbon offset schemes or putting too many eggs in one basket, you can diversify your sustainability approach. Consider:

• Sustainable supply chain options, like partnering with couriers that use EVs and optimized delivery routes;
• Eco-friendly building upgrades, such as ethically sourced materials, smart devices to regulate temperature, or even “living” walls;
• Circular economy practices, like upcycling old products to create new ones.

Investing in your internal process refinement can contribute more reliably to carbon neutrality. Think outside the box about ways you can cut down instead of or in addition to purchasing carbon credits.

Keeping Aware of Sustainable Developments

The best way to figure out ways your company can cut down on carbon emissions is to stay up to date on the latest developments in corporate sustainability. More information is becoming readily available as the world dives deeper into its commitment to lessening the environmental impact of corporations. For instance, you can learn about the benefits of solar for businesses, like a reduction in noise pollution and a more predictable energy bill.

Knowledge is quite literally power when evaluating your current sustainability initiatives. Learn about the plethora of options and continue to stay abreast of industry news to figure out how tech and innovation can further streamline your processes.

Refining Sustainability Measurement

To effectively evaluate your sustainability impact and make adequate improvements, you have to be well-versed in sustainability measurement. Again, trusting a third-party carbon credits company may not be the be-all and end-all of transparent sustainability reporting. You can use their reports as guidelines, but it’s important to assess your overall impact on the environment with an objective lens. Some key performance indicators (KPIs) that you will want to zero in on include:

• Carbon emissions;
• Natural resource use;
• Waste, including wastewater;
• Biodiversity and impact on natural habitats and ecosystems.

The government and environmental organizations have guidelines for the analysis and reporting of business sustainability initiatives, such as the International Sustainability Reporting Standards. Having a firm grasp on these regulations and suggestions — and following closely for any updates — will ensure your sustainability efforts are not in vain and are holding up to new standards. These tactics for analysis can only be refined as time goes on and more is learned about how to calculate your environmental sway.

Moving Forward Responsibly

The final task in your quest for continuous sustainability is to be transparent. Continue to offer employees, stakeholders, and consumers an honest look at your sustainability initiatives and how you are impacting the environment. As you learn more about how to measure this impact, give your audience an in-depth look at your process. This level of detail will be appreciated, bolstering the positive perception of your brand and propelling you into a future of business sustainability and security.