Admittedly, it’s not as noble as saving the trees and endangered species for future generations, but if a more pragmatic impetus were needed for championing sustainability initiatives in the workplace, the case for profitability would be a strong one.
Designing business processes—from worldwide logistics to large-scale construction and manufacturing all the way down to getting a copy of this morning’s meeting—with ethics and the environment in mind, is not a novel venture.
Having been in vogue for as long as it has, it’s somewhat remarkable how a significant percentage of businesses have yet to jump onto the bandwagon.
A study by BCG/MIT referenced in an article on IMD says that while 90% of executives find sustainability to be important, only 60% of companies actually have sustainability incorporated into their business models. Only 24% of companies regard sustainability as a competitive advantage.
Not Just Cost-Saving, But Income-Generating
Maybe it’s because these businesses see going green as a “nice to have” and not a must. And as a nicety or an extra, it’s first out the window the minute a business feels the need, for whatever reason, to switch to survival mode. But a closer look at how sustainability doesn’t just save, but actually make money for businesses just might cause a change in perspective.
TNW has reported on how companies like Apple are cutting huge energy costs thanks to their use of solar panels, and UPS saves $30 million per mile for every mile that their delivery trucks’ machine learning system saved.
Seeking Alpha also mentions how both Unilever and Dow Chemicals stand to make a hefty profit by partnering up with Solazyme to use green oils made from algae. The LA Times talks about how United Airlines, Walmart, Nestle and Coca-Cola are cashing in on their efforts to reduce their environmental footprint, as well.
As if that wasn’t enough to inspire a business still on the fence about sustainability, note how investors tend to favour companies with CSR programmes in place. A study from Nielsen shows how consumers are more likely to buy from—and even pay extra for brands committed to protecting the environment.
Millennials have also shown a preference for joining companies that emphasise sustainability in the workplace, making it harder for businesses without such policies to attract and retain top talent. And to top all this off, many companies enjoy government support for their support of environmentally sound practices.
Initiatives Close to Home
Singapore’s own government offers NEA grants and incentive schemes to help businesses go green, and has also implemented measures such as the carbon tax and green building movement. Happily, businesses in Singapore have not been idle in doing their part.
At a roundtable featured on The Business Times, the CEO’s of China Everbright Water, CapitaLand Mall Trust Management, and City Developments shared how their organisations continue to reap the benefits of promoting sustainability.
In transforming waste water into clean water for communities, Everbright has adopted the Environmental, Safety, Health and Social Responsibility Management System, boosting the company’s long-term overall efficiency. One of CapitaLand’s initiatives involved the recycling of 18.5 tonnes of e-waste, equivalent to almost 95,360 iPhones.
For its part, City Developments has been working on future-proofing its business by adopting science-based emissions-reduction targets and exploring low-carbon technology and materials.
Channel News Asia mentions how consumers in Singapore aren’t blind to the way some businesses pull one-off green initiatives for the sake of PR, and how they lose no time in calling these businesses out. Local companies taking active steps to “walk the sustainability talk” cited on CNA include Asia-Pacific Breweries, NTUC FairPrice, and RedMart.
Encouraging Workplace Sustainability
To get started on its own sustainability schemes (if it hasn’t already), an organisation might consider taking the following “baby steps” in the workplace:
-
Conduct an energy audit. Take a long, hard look at power consumption in the office and zero in on possible“energy vampires” such as unused outlets and outdated devices and equipment. Use LED lights as well as motion sensors and automatic power-off timers where possible. Place notes near devices to remind users to switch them off after use.
-
Conduct a water audit. Also keep an eye out for leaks and other ways in which water might be wasted.
-
Use or purchase recycled or secondhand office furniture and equipment. Not only does this reduce solid waste, but it also cuts operational costs. If used furniture and fittings aren’t an option, try looking into green or eco-friendly options from sustainable or responsible manufacturers. They might be more expensive, but they’re likely to last longer.
-
Go paperless, go digital. Several large companies such as General Electric, Nike and A&T have saved millions of dollars by going paperless. Put a “print as necessary” policy in place and encourage recycling by double-sided printing or reusing paper.
-
Look into work-from-home setups. The use of power and paper aren’t the only things to be reduced when employees are allowed to work remotely. Carbon emissions are likewise cut back with less commutes to and from the office, and office rental costs also go down when entire teams work off-site full time.
-
Hold meetings online. As part of going digital, online meetings reduce carbon emissions the same way remote work does.
Setting quantifiable goals such as reducing energy or paper consumption by X% or saving X amount of dollars spent on paper or electricity can help make these first steps toward workplace sustainability less theoretical and more practical. It takes decisive, definitive action to drive home an organisation’s commitment towards sustainability to everyone involved.
The Advanced Certificate in Sustainability and Sustainable Business at SMU Academy equips programme participants with a deeper understanding of key corporate sustainability concepts and frameworks. Offered in partnership with the Global Compact Network Singapore, the programme provides insight into the integration of sustainability at leading organisations.
Participants learn to prepare sustainability reports, calculate an organisation’s carbon footprint, and network with sustainability advocates during modules such as “Environmental Management for a Sustainable Future” and “Governance, Human Resource Management and Business Integrity”. For full course details, schedules and registration, click or tap here.
