It’s clear that there’s a new environmental awareness—a recognition that the earth’s bounty that has provided for us for so long is not unlimited. Even corporate America is catching on, by developing and marketing sustainable practices that are good for business.
According to a recent BNA Corporate Law and Accountability Report, in the 1990s only a few scattered companies published their corporate sustainability practices. Today, more than half of the Fortune 500 do so. The Report also predicts that U.S. stock exchanges are likely to make such reporting a future listing requirement!*
Why—in such a relatively short period of time—has sustainability become so mainstream? And with a variety of large and small businesses, government organizations, households and even individuals? Does corporate America practice sustainability just to be good environmental citizens? Although some companies are pressured by public shareholders, I believe the large majority do so because it is good for the bottom line.
EMC Corp.’s chief sustainability officer and senior corporate counsel have written about the business benefits of sustainability reporting. They say it has enabled the company to reduce costs, reduce energy consumption and greenhouse gas emissions, operate more efficiently, and develop new products that use less material and minimize packaging waste.*
Another example is from Lloyds Bank: “Whether it’s the rise of the internet, the global financial crisis, or climate change, sustainable businesses are those which can adapt to changing conditions and turn crisis into opportunity. Businesses that are not sustainable cannot expect to endure.”
Smaller businesses employ sustainable practices and reap these benefits as well.
And cities of all sizes—from Chicago to my home town, Highland Park, IL—have sustainability managers, and the Lake County Board is considering hiring one.
What about all of us? More and more individuals are conscientiously reducing, reusing and recycling. For additional sustainability ideas that we all can apply and that frequently save money at the same time, see this article.
*If you are interested reading this BNA Report, please email me directly and I’ll send you a PDF of the document.
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