When the first UN Conference on Environment and Development (UNCED) was held in 1992, the need for all, and by all we mean both private and public organizations, to help advance the agenda for sustainability was emphasized. It was clear that for the globe to become sustainable, healthier, and offer opportunities for growth to both current and future generations, the plans installed for growth had to include focus on sustainability. To achieve sustainability, you need sustainability reporting.
While the benefits of sustainabilityreporting are there for all to see, it is sad that many myths and misconceptions have been peddled, making some corporates and entrepreneurs consider shoving it aside. Do not take that route! To help understand, embrace sustainability reporting, and lever your enterprise for success, here are the common myths that you need to know:
Sustainability is Too Expensive
This is a misconception. Think of it this way: how much does it cost when your staff adopts the culture of turning off the lights and computer when not in use? What about doing away with printing, or at least, the bulk of it for digital communications? If anything, these events for sustainability help to cut costs.
It is true that some initiatives such as changing the machinery to increase efficiency might have some costs, but the long-term benefits will be awesome. For example, such installation can help you reduce power costs, cut down raw material for production, and create better products. In the end, you will have helped to address global issues, such as global warming to make the world a better place for all.
Consumers Won’t Pay for It
This is another major misconception, and you should not buy it. Indeed, more customers today want to be associated with brands that are sustainable, and sustainability reporting is the best way to communicate that. Studies indicate that 73% of millennials and 66% of global consumers are willing to pay more for sustainable products.
Today, many companies are using sustainability as a lever to their marketing, and they are managing to race ahead of competitors. So, go ahead and tell consumer about your efforts through sustainability reporting, and they will even be willing to take an extra mile to be part of your brand. Customers are more enlightened today, and they know that green projects help to make their world a better place. See – no one will want to miss out!
Businesses have nothing to do with Sustainability
This is not true! Every enterprise has a deep connection to the environment, and managers need to know that it is impossible to profit without harming the planet. If you process food products, they are harvested from the planet. The water, energy, and other resources are all sourced from the planet. Therefore, failing to adopt sustainability is wrecking the same foundation your enterprise is based on.
If you want to be successful in your organization, it cannot be thought of as a separate entity from the environment. As said by Diginex Solutions, Embracing sustainability reporting makes it possible to understand the risks and opportunities while working on a strategy for growth. Environment is our product, so be proud of nurturing it to become a better place.