With accelerated development at a global level, the idea of having a sustainable business is becoming more prominent with passing days. New awareness is setting its foot pertaining to the need to respect the natural ecological system and embark on the journey of environment welfare. However businesses still tend to consider the natural assets as being free of cost. It’s high time to figure out a middle path that shall ensure a harmony of economic, social and environmental challenges.
Key highlights of a sustainable business model
There are many features that must be inculcated for moving a step ahead towards sustainable business. Businesses must invest in a system that should inspire minimum consumption and must be infested with having quotas on energy resources. Further the mechanism of a business should be such that deals to maximize the environmental benefit rather than economic growth.
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A business strategy would be called as eco-friendly when the maximum effort is to make us of every resource judiciously while simultaneously ensuring that nothing is wasted and everything is reused, repaired and recycled. The main facet of a sustainable business doesn’t lie in product ownership rather lies in delivery of functionality which simply means that services must be delivered without having a need to own the physical product.
A reward mechanism must be set that recognizes human skill and creativity in maintaining the nature’s balance. Aggressive competition is not feasible but a business built on collaboration and sharing is the nature’s call.
Environment oriented business: sustainability strategies
For businesses to be environment oriented, there should be adoption of a flexible and comprehensive approach that renders ways to combat the problems relating to environment. To exemplify, businesses can come up with innovative ideas wherein judicious use of resources can be made. The policy of 3r’s can be implemented. Likewise metals can be substituted with fiber based materials and solar panels and windmills can be put to use.
Discarding the use of chemical dyes in industries sounds viable and replacing it with organic substitutes is a good option to do away with the harmful effects caused by it to the environment. The whole new concept of green chemistry has facilitated the use of naturally occurring processes in place of conventional practices.
The following strategies can be applied for a business to succeed in achieving sustainability.
- Trying to address resource shortages associated with nonrenewable energy and man-made synthetic production mechanism which would reduce environmental effects and improve market resilience.
- By incorporating renewable resources and energy, as well as conceiving creative approaches by mimicking natural processes, innovation in product design is possible.
- Reduced need for nonrenewable energy and better need for renewable energy sources, reduced pollution associated with burning fossil fuels, and reduced synthetic waste to landfill are also ways to add value to the ecosystem.
- Increasing revenue by creating goods, services, and technologies that address environmental needs, such as reducing greenhouse gas emissions, meeting the UN Sustainable Development Goals (SDGs), or reaching out to underserved consumers.
- Relevant sustainable business foresight must be acquired to meet unexpected and sudden changes in external factors related to environment.
Inspiring business ideas that help in restoring nature
- Seaweed cultivation: Seaweed farming is the solution for harm caused by rapid industrialization that hampers the quality of water bodies and put life of aquatic animals at peril. Growing seaweed can help reduce the concentration of carbon dioxide considerably, help to combat with ocean acidification and improve marine environment. This would generate livelihoods for people while being sustainable at the same time. Also as detailed by the study done by university of California, it has been proven fact that seaweed when mixed with fodder can help reduce methane emissions which is a greenhouse gas.
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But there is lack of awareness among people and seaweed farming is still a newer concept. Secondly farmers who deal with seaweed still do not have the potential market to target and earn money. Seaweed is grown using the technique of Single Rope Floating Raft, especially in India. It includes the construction of bamboo rafts and their deployment in the sea.
- Waste free t-shirts: one can start a business wherein incentives can be provided after the t-shirt has been returned to a recycling unit. Incentives in the form of discounts and other vouchers would increase sale, attract customers and side by side would lessen the amount of waste generated. This is a superb idea and is sustainable.
- Smog cleaning business: This business idea will prove fruitful especially in India. Buildings can be constructed having smart concrete skin which would absorb and break down pollutants. This would aid in clean and healthy air.
- Growing mangroves: Mangroves play an essential role in protecting coastal communities from flood. Moreover these are a source of livelihood for many people living in and around them since wood produced from them are a source of income. Its leaves are also used as animal fodder. Also it can be said that they are sinks of carbon.
- Rolling back desertification: Plants can be supplied for the purpose of planting them in deserted areas like medicinal plants and encourage animal husbandry.
It can be concluded in the nutshell that if humanity is to survive and interests of future generations is to be secured then it is crucial that our economy must work with nature and not against it. Proper methods must be incorporated for spreading awareness among people about the potential eco-friendly businesses carry. Humanity must understand the fact that the impact on the environment must turn out to be positive at the end of the day and reduction in negative impact by adopting environmentally friendly practices.
This portion of the site is for informational purposes only. The content is not legal advice. The statements and opinions are the expression of author, not corpseed, and have not been evaluated by corpseed for accuracy, completeness, or changes in the law.
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