What are the latest trends in sustainable business practices, and how can you implement them?

Circular Economy will continue to dominate the sustainability/ sustainable business practice trend. In 2023, we saw updates on the EU's Circular Economy Action Plan take center stage. Some of the highlights were: 1. Revision of the circular economy monitoring framework 2. Adoption of proposals on greenwashing and the right to repair 3. Revision on measures to tackle pollution from large industrial installations Similarly, integrating circular economy will be critical as organizations develop their GHG inventories, devise their decarbonization plans and identify opportunities to reduce waste in their operations. If the integration of circular economy extends to an organization's supply chain, Scope 3 emissions can also be managed.

8 billion people live in the world today and will reach 9.7 billion by 2050. 2 billion pieces of garbage are generated annually. Economic models based on consumer societies use resources and raw materials as if they were infinite, increasing production. The current climate crisis is also a resource crisis. Rethinking the way products and services are produced represent a challenge and offer an opportunity for differentiation (e.g.reusing organic waste to generate biogas). It is essential to adapt our consumption levels to achieve decarbonization. Hence, the circular economy, understood as recycling and reducing the use of materials and reusing them, is essential to fight against climate change and its consequences.

I went to my optometrist today at her new store, which creates glasses from vintage and remnant fashion glass frames from all over the world, saving them from landfills (and as you know eyeglass frames are plastic). This unique point of differentiation has Revival Eyeware in San Diego as a sustainability pioneer. Making sure we keep materials in the circular economy is a critical part of this rethinking of how - and why - we consume.

As it stands, growth has limitations and comes at a cost. We are in the midst of a paradigm shift from a culture that prioritizes ownership to one that values access to things (e.g., lyft/uber, lime/bird, etc.). This transition should be embraced. The Earth is, for the most part, a closed system (i.e., asteroids count). Matter only circulates around and within it. The very idea of circularity highlights the finite nature of our planet's resources and stresses the need for closed-loop systems that minimize waste and encourage recycling. To re-establish equilibrium with the planet, we must be intentional in finding the optimal scale of our activities. The laws of diminishing marginal utility and increasing marginal cost confirm this.

Notable current trends in sustainable business practices include circular economy initiatives, net zero business programs, sustainable procurement, sustainable supply chain, climate risk & scenario exercise, science based target setting, LCA and increased focus on social responsibility through diversity and inclusion. To implement them, couple of initiatives include adopting framework on evaluation of sustainable supply chains, investing in renewable energy, and engaging in transparent communication about sustainability efforts. Additionally, prioritizing employee well-being and supporting local communities can contribute to a more comprehensive approach to sustainability.

Let's take for example a fictional company called EcoCraft. In tracking their social impact goals, EcoCraft measures reduced waste, increased employee satisfaction, and community engagement metrics. They communicate achievements through transparent reporting, sharing success stories with customers and stakeholders alike. By involving their audience in initiatives and co-creating solutions, EcoCraft not only strengthens its reputation but also positions itself as a socially responsible brand, driving innovation and maintaining a competitive edge in the market.

Let's talk about sustainable biz and social impact. It's not just about the planet; it's about people too! Here are my takeaways: 1. Define your purpose and why your startup exists beyond profits. It's about having a social compass guiding every move – that's what connects with people. 2. Stakeholder love is crucial! Know the players in your game - customers, teams, suppliers, communities. Align your goals to their needs for real impact. 3. Measure it by setting clear metrics for your social impact. Tracking helps you tweak and grow. Numbers speak volumes when you're making a difference! 4. Share your wins and struggles. Authentic stories resonate. Let your audience join the journey. build a movement, not just a business.

I wouldn't exactly call social impact a trend in corporate sustainability. Social impact is a crucial part of the sustainability strategy and it involves stakeholder engagement and improving positive impact on all fronts. Assess the impact your value is making on local communities and minimise the negative impacts while creating initiatives that can fulfill the social needs of the community. Employee engagement & practices are also an imperative aspect of that needs to be a part of your company's sustainability strategy.

Social contribution is not a new lingo in business. It's long been a part of a "sustainable" organization. The old adage of "the more you give, the more you receive" is the main focal point if not a logical rationale why enterprises have to include this in their corporate strategy. However, in today's day and age, a lot of "greenwashing" not only in the way we do things but also a lot of current practices include having to pay someone a subscription that can help fight climate change, or reduce carbon footprint. How do we audit if this contribution actually gets into the pocket of who needs it. Leadership. This means doing the right things even when no one is watching. That's where the genuine, real, authentic social impact lies.

Power BI empowers data visualizations. Open-source tools like Grafana let you build stunning, customizable dashboards for free. Metabase makes exploring and querying databases simple and intuitive, even for non-technical users. The other is Kibana, which excels at visualizing log data. Track your environmental footprint by analyzing energy usage patterns, resource consumption, and waste generation trends. Uncover hidden insights and identify areas for improvement. Track energy consumption, waste reduction, social impact metrics, and more – all in real time. These insights fuel smarter decisions, driving efficiency and progress. Data becomes your sustainability compass, guiding you towards a greener, more impactful future.

Green your digital and OOH advertising. Global spending on advertising is expected to reach U.S. $752.8 billion in 2024 given inflation, with $351.4 billion of that belonging to U.S.-based companies. From media forecasts by dentsu, digital continues to rise and will reach $442.6 billion in 2024 - a whopping 58.8% of overall media spend. Meanwhile, digital advertising activities generate approximately 3.5% of global greenhouse gasses annually, which is even more notable than the spend itself.

As a co-founder of a sustainability start-up, I am keenly aware of the importance of data and digital innovation. At Beaker, we have developed a discovery beta of ethical and environmental scores of apparel companies based on up-to-date data from an aggregation of sources. We are leveraging digital transformation to adopt high-impact data and analytics techniques. Check us out at join.beaker.com!

Hey fellow entrepreneurs, diving into sustainable biz practices? Here's the scoop on the latest trends and how to ride that digital wave for a greener future! 1. Start small by digitizing processes. Efficiency boost and less paper waste – win-win! 2. Assess what digital tools align with your sustainability goals. Maybe it's AI for resource optimization or IoT for smarter energy consumption. 3. Craft that digital game plan! Define a strategy that syncs your tech journey with green missions. A clear vision keeps your efforts focused and impactful. 4. Flex those data muscles! Get cozy with analytics to track your progress. Numbers don't lie – they'll guide your sustainable growth and help tweak strategies.

I transitioned from using Excel to leveraging Power BI for enhanced graphics display, particularly in presenting data on Scope 1, 2, and 3 emissions, energy and emissions trends, etc. While there are available ESG software solutions in the market, it's crucial to weigh the learning curve associated with them. Artificial intelligence (AI) emerges as a promising avenue for ESG data visualization, offering potential efficiencies in processing and presenting sustainability metrics. For example, Power BI offers a "Quick Insights" AI feature that automatically analyzes your dataset and provides interactive insights and visualizations. A "Key Influencers" visualization, helps identify the factors influencing a particular sustainability metric.

My climate trends for 2024: ?? 1. Biodiversity Credits ? 2. Convergence of Standards ???? 3. Decarbonizing Fertilizer ?? 4. More Nature-Based Removal Solutions ?? 5. More dMRV ?? 6. Carbon Credit Offtake Agreements ?? 7. More Climate Adaptation Startups ?? 8. Carbon Accounting Reloaded

The AI has a transformative role in all trends mentioned above. Firstly, AI-driven energy optimization systems enhance efficiency, reducing resource consumption in buildings and industries. Secondly, machine learning algorithms analyze vast datasets to identify environmental patterns, aiding in climate change prediction and mitigation. Thirdly, AI facilitates circular economy practices by optimizing waste management and recycling processes. Fourthly, smart agriculture employs AI for precision farming, minimizing resource usage and maximizing yields. Finally, AI-driven supply chain analytics enhance transparency, ensuring sustainable sourcing and ethical practices.

Make Genuine Efforts: Greenwashing is the deceptive practice of making a company, product, or service appear more environmentally friendly than it actually is. Instead of genuinely implementing eco-friendly practices, greenwashing involves using misleading marketing tactics to capitalize on the growing consumer demand for sustainability.

In the current economic climate, with cost of living having a significant impact on consumer behaviour - and with increasing regulation and reporting standards around ESG and sustainability coming into effect, we're rapidly seeing a move away from brand purpose as the primary marketing message and USP. This is a good sign, as greener practices become the new 'business as usual', but if your purpose and sustainability has been your primary messaging until now, it's time to review your strategy and messaging hierarchy.

Here are the top 5 sustainability trends: 1. Age of Distrust - Sam Edelmen's report on Trust is a good read in this time of "chaos;" 2. Age of Artificial Intelligence - who has not heard the word A. I. in the last year or two? 3. Society 5.0 - Japan's term coined from 5 years ago on how internet of things, big data, etc will play a big part in today's day and age. 4. Powered community - it's crucial that having a following that leads to community should be part of any strategy #togetherisbetter 5. Blue ocean revolution - part of the new world is tapping the ocean's power as it's a big part of earth. Being able to get to know what is down under is pivotal to our new world as we help not only to save species but to be caretakers of the seas.