Change for Sustainability: How Businesses are Investing in the Environment

Change for Sustainability: How Businesses are Investing in the Environment

It’s been a long time since environmentalists have been preaching about acquiring sustainable methods. People ignored them for quite many years, but the idea has gained traction lately. Social media drove this change as many influencers and celebrities came in support of the metal straws.

Due to this, many big food chains removed plastic straws from their takeaways. This fueled the campaign even more and caused many more businesses to get on board with it. According to Mckinsey, many companies around the world are choosing sustainable methods over traditional ones. 57% of the companies in the US have sustainability in their overall strategy.

Small changes are seen in big industries such as housing and construction. Contractors are choosing vinyl-made fencing as they are good for the environment and last longer. Food industry giants are reinventing packaging to fit sustainable standards. The government has also issued guidelines that will push more businesses towards this practice.

Why are businesses participating in this campaign?

Businesses all over the world have been chief contributors to generating waste. They contributed to pollution through smoke from manufacturing factories, chemical waste, and carbon emissions. The talks about limiting these pollutants have been going on for a long time.

Then, in 2020 the global search for sustainable and environment-friendly terms increased by 16%. This is not a small number. Both millennials and Gen Z talked about them on social media. Many startups emerged that centered their services around the environment and made millions of dollars. 

This created a buzz around the topic and brought it to the limelight. Businesses all around the world can benefit a lot from this idea. It’s great to see that they are finding ways to turn the campaign profitable for themselves. This way, everyone can earn money while supporting the environment.

How do different industries invest in sustainable methods?

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  • Food Industry

The food industry contributes to waste in many ways. They add chemicals and pesticides to the soil to increase the growth of vegetables and fruits. The food itself is prepared on a huge scale which is generally not required. Then, it is dumped into oceans along with other wastage.

The packaging is also problematic as it fully contains plastic, but it’s changing now. Many startups are emerging that use cardboard as an alternative. Starbucks has introduced metal straws for people to buy. Nestle has announced that it will spend $3.6 billion to go fully green by 2050.

  • Retail Industry

‘Green Retail’ is the latest term in the retail sector. It encompasses increasing efficiency and eliminating waste. The major drivers of this change are the consumers who are now willing to spend more on greener options. They’ve also realized that these practices will set them apart from the competitors in the market.

Changes they’ve made include shipping products with less fancy packaging and switching to less wasteful options. Retail chains now offer bags and receipts as an option. They reuse cardboard packaging and use renewable sources of energy. A huge change is using e-billing methods rather than paper. One example is IKEA, which has promised to invest $220 million in green energy and reforestation projects.

  • Fashion Industry

The fashion industry is always criticized for its wasteful and harmful practices. Fast fashion is a major contributor to global waste. It keeps people underpaid and preys on young buyers. But there’s a bit of hope. Various brands are taking creative steps to transform waste into clothing. Ecoalf is a new brand that converts sea bed waste into clothing.

Many startups are recycling clothes from landfills. Cotton clothes are the most common ones among these. Organic fibers are in there like organic cotton, hemp, and bamboo. These are just plant-based fibers that grow without pesticides or herbicides. Another option is recycled fibers like polyester nylon, linen, hemp, cotton, and wool.

  • Hospitality Industry

Leisure and hospitality is also a huge contributor towards pollution. It is solely responsible for 8% of all carbon emissions across the world. From planes, boats to huge resorts, everything emits carbon. That’s a huge price the environment pays for a lavish vacation.

But now, hotels are investing in sustainable practices. They are using solar and wind energy to generate power. Vacation resorts are adopting barren lands and tree plantations as they serve as tourist spots. Greywater recycling is a trend among hotels that use it for watering plants and other activities.

All these industries are geared up for sustainable living. As the demand among customers increases, they are bound to change their methods. The future is bright for early adopters. These methods are profitable, and with correct marketing strategies, businesses can really make a fortune with them. Even a startup can climb up quickly if they invest in sustainability.

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