In Short: Embracing sustainability isn’t just a corporate trend; it’s a necessity in today’s world. As businesses navigate the sustainability challenge, they must adopt eco-friendly practices, reduce carbon footprints, and invest in renewable energy. Companies can implement green initiatives, utilize recyclable materials, and embrace energy-efficient technologies. Partnering with eco-conscious suppliers and engaging in carbon offset programs are also impactful steps. Moreover, fostering a culture of environmental responsibility among employees and stakeholders can drive lasting change. By pledging to sustainability, businesses not only fulfill their social responsibility but also secure a more sustainable future for everyone.
In Detail : It’s great to have goals—they’re the first step in the journey to accomplishment. However, as sustainability targets become a more and more prevalent business imperative, some are struggling to move beyond goals to carve an actionable path forward. Are you up for the challenge?
Let’s start with the good news: The business world has its sights on going green. According to a 2020 NAVEX survey, over 80% of companies globally have an environmental, social and governance (ESG) program in place, and an Accenture report found that more than a third (34%) of the world’s largest companies are committed to becoming net zero.
The bad news? The desire to help the planet doesn’t always translate into results. Accenture also found that 93% of companies that pledged to reach net zero will fail to achieve that standard by 2030 unless they drastically change their approach.
What’s standing in the way of those trying to push sustainability forward? Why are so many businesses seemingly set up to fail to deliver on their goals? It can be overwhelming, for big and small companies alike, to chart the course for a greener future. Even with a solid foundation of support and a clear plan to follow, there are some common stumbling blocks to avoid.
A 2023 survey of ESG executives conducted by Zurich Insurance Group found that three factors rose to the top of the list of impediments to headway. Across sectors and across the globe, cost and capital expenditure were the most significant barriers, followed closely by a lack of feasible solutions and difficulties in measuring and monitoring impact.
It’s a complex issue with some formidable challenges, but it’s imperative to forge ahead. Greenhouse gas emissions have reached an all-time high and will continue to rise without intervention, but now’s the time for action rather than despair. Here are some ways you can overcome common obstacles and help turn your net zero pledge into progress.
• Level set. If you’re starting from square one, begin with a full once-over of how your business operates. Look at everything from your energy consumption and efficiency, to your waste expenditure, to your partnerships. Setting a benchmark early can help you measure success as your environmentalism evolves.
• Quantify goals. A goal like “carbon neutral” or “net zero” sounds good, but exactly how many steps do you need to take to achieve it? How many years will it take to reach it? What will success look like? Having a sense of the numbers can bring goals into clearer focus. By tying your goals to your organization’s overall strategy, sustainability can actually help boost your bottom line.
• Start small. It can be tempting to tackle sustainability all at once, but try instead to build momentum with some key, strategic areas of focus. Amp up your recycling program. Identify a new, greener vendor. Take a look at your supply chain for areas of improvement. Little wins can add up to a big impact.
• Join forces. At the heart of every successful business is a suite of specific expertise. Focus on what you’re good at, and find a partner who specializes in environmentally friendly practices that can help you take strategic steps forward. Though partnerships often come with an upfront cost, they’re often a much more economical solution than trying to build it from scratch.
• Communicate consistently. What you do is important. How you share it may be equally so. If you reach a goal, share it broadly. If you have encouraging metrics, be loud and proud about them. If you fall short, share that also—along with a pledge to keep moving forward.
I know these strategies work because I’ve seen them play out firsthand. As the founder of Green Circle Salons, a sustainable salon solution dedicated to fighting beauty waste and climate change, when we set out to change the world, I set my sights on a big number: 10 million pounds of beauty waste recovered.
In 2023, we reached that goal—not because it was simple but because we were able to solve it together. The key to change is to champion solutions that are designed to overcome the barriers people face (cost, efficacy and impact monitoring) and place them directly in the hands of professionals who want to do good.
Our lofty, audacious target was reached thanks to the millions of small but meaningful daily actions our community of waste warriors has taken. The journey of 10 million pounds saved was paved with the actions of many—one haircut, one balayage, one box and one pound at a time.
No matter what industry you’re in, the path to true sustainability isn’t always easy. However, a verified partner, clear goals and a commitment to action can make sure it’s effective.