top of page
  • Writer's pictureSachh Foundation



Profit Making that comes through Sustainability

By Claudia Simone Ene


Even though most people were educated to go to school in the past, find a job and live their lives as simple as they could, without risking and dreaming to have more, nowadays, the situation is different. People worldwide want to overcome their limits; they have higher living standards and struggle to become successful and productive.


In today's world, it is straightforward to access self-development and financial education books, courses, and ideas because the internet has opened many doors to information. With pure research, you can choose from a variety of data. Still putting everything into practice is hard, and making money becomes a complicated process, mostly because the competition can be high in the current society. More than this, to be successful nowadays, companies should focus not only on the profit, as it used to happen in the past. A company should follow the way of sustainability by concentrating on corporate social responsibility and by taking into consideration the United Nation’s sustainable goals. This approach consists of three pillars: economic, social, and environmental, known as profits, people, and the planet.

Sustainable development is directed to meet the present's needs without affecting the future generation; it is about being responsible for free choices without influencing the next age group’s opportunities.


For many years, conventional business wisdom has delivered the idea the sustainability is a strategy to save money. However, not one that will bring profit to the company, several green giants are still the best examples of the fact that growth and profit-making are possible through sustainability: Ikea, Tesla, Nike, Toyota.


More and more organizations are becoming aware of the importance of efficiency, and sustainability-driven actions in today's times. Increasingly, big brands are more engaged in sustainable projects, and even though it is often hard to achieve their goals, the impact is more significant in the long term. Every company can accomplish its sustainable needs by lowering its energy usage, cutting emissions, souring products from fair-trade organizations, ensuring the waste is disposed of properly, and finding solutions for the people in need.

Even though it is an abstract concept for some, there are opportunities for making profit through sustainability. It opens new opportunities to meet the market's demand in the long term. Some may find inspiration in the following ideas of profit-making while trying to be sustainable.


Diversity is a goal for sustainability, and it can be used as a profit maker.


By embracing diversity, companies sustain goals like Gender Equality and Reduced Inequalities, empowering and promoting social, economic, and political inclusion, regardless of age, sex, race, disability, religion, or financial status. More than this, by adopting diversity, a company will have more to offer to its clients, which will attract more people to come and use their products. Many companies, like Ikea, Starbucks, or different bank branches, started using diversity and converted into a service that is already generating profit through its increasing number of shoppers or consumers.


Decent Work conditions are a sustainable goal, and it can also lead to profit in a long-time approach.


By implementing such goals, companies are promoting development-oriented policies that support productive activities, offering decent jobs and protecting labour rights through a safe and secure working environment for all workers despite gender, age, race, ethnicity, religion, disability, or sexual orientation. Following sustainability by such approaches, the company would have productive employees. They work efficiently and focus on their tasks, producing high-quality products or services, which will return as a profit after a period. Moreover, this would bring validation and recognition from the customers, leading to more buyers and so more significant gain.


Responsible Consumption and Production can lead to better profit if it is understood correctly.


Retailers, restaurants, transport, energy suppliers are only some examples of fields where companies are leading towards sustainability by reducing carbon footprints, packing waste, the animal suffers, encouraging wasteful consumption, and minimizing adverse impacts on their development affecting the environment, animals or people. By adopting such goals, many organizations have saved money by using less expensive methods but have also grown and started making a profit. An excellent example in this situation can be the UPS delivery company. By redrawing its delivery routes in New York so they can make the right turns, they save time, big money on fuels, and delivered more parcels per day, increasing its profit.

Sustainability through Industry and Innovation is one of the essential profit-making solutions.

When thinking about innovation and profit-making, Tesla is an excellent example because its model Tesla Model S is not just a zero-emission vehicle but also the highest-scoring car Consumer Reports ever tested, setting a record for safety in tests conducted by the National Highway Traffic Safety Administration. Through Industry and Innovation, Tesla has achieved not only the luxury division of consumers but also the recognition and validation of the other brands and buyers, increasing its profit.


Reliable research by Oxford University and others confirms that good sustainability practices are correlated with lower operating costs, better profitability, and superior share price performance.


So, when thinking about a new business, why not choose to be sustainable while trying to profit?




Sources:


6 views0 comments
bottom of page