Nature Means Business: Consumers Demand Sustainability. Your Company’s Waste Streams Can Help Navigate.
– March 23, 2022 –
Customer Needs for Circular/Sustainable Solutions Intensify – Is Your Business Providing Them?
A headline that hasn’t changed over the past two years has been “Customer Needs Are Evolving.” We know because we wrote about it in 2020 and 2021. The pandemic has had a massive impact on the climate consciousness of the world.
Consumers expect brands and businesses to demonstrate their efforts in shifting toward greener initiatives. According to the Economist Intelligence Unit, there has been a 71% increase in online searches for “sustainable” practices and goods within the past five years.
Is your business making greater strides toward circular and sustainable solutions? If not, your company’s waste streams may be the key to finding them.
Going Nature-Positive: Brand + Consumer = Compatibility
Investing in green and sustainability initiatives is not a choice for organizations anymore but rather a matter of survival. Customers, employees, partners, and shareholders benefit from a commitment to such practices, which seek to protect the planet, respect employees, and engage with communities positively. Because of this shift, businesses are often at a crossroads to respond to these demands and prioritize action.
According to a McKinsey & Co. survey, 66% of respondents said that sustainability is a major factor when making purchases. More and more today, consumers align themselves with brands that are compatible with their values. As a result, organizations across industries have started to lead with purpose, embracing the circular economy as a significant factor to drive growth.
Additionally, sustainable business practices bring…
- Reputation value – Companies are perceived as more responsible, ethical, and reliable; therefore, they are perceived to have higher quality products and services.
- Competitive value – Being sustainable allows you to stand out when competing for business.
- Workforce value – Many employees seek out socially and environmentally responsible businesses. Healthy policies and work environments drive healthy employees.
Waste-Minded: Strategy Drives Life-Cycle-Building Benefits
You need a strategy – a strong and effective one that requires a framework to manage initiatives, set goals, track progress, and measure results. You know the adage, “what gets measured gets managed?” It also applies to sustainability. When it’s done right, that strategy can impact your total operational efficiency and deliver a positive return on investment.
Understanding the types of waste and recyclables your business creates is a good launching point toward taking action. With hands-on consistent data and knowing that every act, no matter how small, you can maximize landfill diversion and improve your bottom line.
Having visibility on your data can also…
- show your company’s inputs and outputs to know where and how you can improve
- help third-party management groups deliver custom-built programs to help you reach your sustainability goals
- uncover missing revenue streams
- reduce risks
- keep you compliant (with local, state, and federal regulations)
- spur investments in new infrastructure and innovation in the sector
Many companies may think they know what’s going on with their waste but are usually surprised by the truth: There’s so much potential to unlock social and economic value that’s currently being tossed away.
Don’t feel hesitant when faced with sustainable objectives. Valuable benchmarking data shows you exactly where your waste comes from, what it’s made of, and where it goes. With the right resources and commitment toward knowledge and data, your waste streams can take your business toward a sustainable (and profitable) future that keeps your customers’ needs in mind.