Sustainability Initiatives by popular brands around us
The world is still dealing with a number of well-known issues as the new year begins, including the ongoing COVID-19 pandemic in China, floods, the continuing climate change crisis, biodiversity loss, pollution, and waste. However, 2023 may turn out to be a watershed year for the environment due to our continuous effort to make the earth sustainable. The year 2022 was very tragic for all living beings across the globe, but 2023 can be better than last year. As the year has just started, let's make efforts to make 2023 better than previous years.
Climate change is now too dangerous to overlook as we confront permanent disruptions to the Earth's system. Questions regarding cascading consequences in global natural systems and society are being raised as environmental thresholds are being exceeded. Businesses are under pressure and have the chance to set sustainability targets if they haven't previously. Companies continue to align themselves with the sustainable development goals (SDGs) set by the United Nations General Assembly in 2015 and planned to be accomplished by the year 2030, despite the ongoing COVID-19 pandemic environment. Every business on this earth has some amount of carbon emissions, which might look very minor individually, but is very critical if we see everything as wholesome.
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According to an article by?World Economic Forum , “For any company to become sustainable in all kinds, the companies need to go beyond E (Environment), they have to consider S & G also (Social & Governance). For businesses, having a clear direction is more crucial than ever in today's broken and uncertain environment. Sustainable management, the creation of value for all stakeholders, and hence inclusive capitalism require having a true north. ESG goals that are clearly stated and conveyed can serve as this compass.” Hence it is evident for any company to align with Sustainability goals.?
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The main question which arises here is how can ESG be effective in North Star?
ESG is a high-priority topic for any company because it’s the company that will decide the strategy and drives ESG. A company needs to set up certain frameworks to follow and choose relevant ESG metrics and targets. It should not be taken as a sprint but as a marathon where you reach your endpoint at a very steady pace, creating a sustainable transition toward climate neutrality requires long-term incentives. An ESG strategy must be fully integrated into a company's corporate business strategy and must become a critical part of the corporate culture – because culture eats strategy for lunch – and also has an impact on the actions of customers, suppliers, and partners.
Understanding the problem at hand and how crucial it is to make changes — for the business and the planet — is the first step in making firms more sustainable. The goal of this newsletter is to assist business owners, directors, and executives in increasing environmental awareness inside their firms. We will provide you with insights or examples related to big brands & companies doing to embrace Sustainability.
?NIKE
?Nike is trying to showcase the importance of environmentally friendly activities in its marketing while also bringing outstanding concepts into action. Utilizing environmentally friendly materials like recycled polyester, it manufactures a range of sustainable goods. Additionally, the business manufactures renewable energy sources. Additionally, Nike has mandated the creation and implementation of written environmental policies at 650 of its suppliers across 52 nations. In 2021, The Air Zoom Alphafly Next Nature was the first Nike running shoe to be made with 50 percent recycled material by weight.?
Starbucks Stores Go Green
?All aspects of this business uphold environmental sustainability standards. The business prioritizes obtaining LED certifications for its new outlets in addition to purchasing Fair Trade Certified and Certified Organic coffee. The company can cut operational expenses and lessen the effect of business activities on the environment by opening "green" stores. In 2020, Starbucks started working towards its goal of 100% compostable and recyclable hot cups in partnership with Closed Loop Partners and NextGen Consortium. Starbucks has contributed $25m in funding to its partners for this effort, intending to reduce waste sent to landfills by 50% by 2030.
?Google’s Environmental Innovations
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With its environmentally sustainable methods and innovative business models, this one is a trailblazer in embracing a greener future. Through efforts like using renewable energy to power its buildings, holding farmers' markets and sustainable cooking classes, and bringing goats to trim grass, the company exhibits its dedication to turning green. In addition, Google has a company culture that emphasizes environmental responsibility, enhancing its standing as one of the most progressive businesses in the world. In 2021, Google initiated a pilot program with its suppliers to address the challenge of supply chain packaging to reduce upstream waste.?
?Apple
?Apple is promising to moderate the effects of climate change in some of the hardest afflicted locations despite being more well-known for its elevated, high-tech launch theatrics and newly manufactured factory in India than for its environmental sustainability. Apple has promised to transplant 27,000 mangrove trees along Colombia's coastline in partnership with Conservation International. These trees shield the coastlines from erosion and "scrub" carbon from the atmosphere. Additionally, Apple's manufacturing plants use only renewable energy, with a focus on wind and solar energy in place of fossil fuels. In the fiscal year 2021, Apple’s plastics usage accounted for only 4 percent of its packaging which marks significant progress toward its goal to eliminate plastics from packaging entirely by 2025.
?Adani Enterprises Limited (AEL)
AEL has set its ESG commitments and targets for 2030. They are investing USD 50 to 70 billion in green transition including green hydrogen and its value chain. They have set a target to become a net water-positive company by 2030 by integrating assessments of the water footprints of their entire businesses and operations for water-related risks by developing water risk mitigation plans. The Adani Group also invests about 2% of its total profit in various CSR initiatives through Adani Foundation. By responding to the emerging needs at the grassroots level, its teams are focused on aligning all activities with the global Sustainable Development Goals, striving to secure a hopeful future for millions.
?These were a few examples, but now what matters is how can you and your company embrace Sustainability. There are numerous moving pieces involved in business environmental initiatives. However, if done properly, corporate sustainability may benefit your revenue, staff, and clients.
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Reach out to Terrasustain, We work with international organizations, multilateral development banks, non-profit organizations, and governments to develop innovative solutions to both mitigate risk and achieve sustainability goals. We are a consultancy firm specializing in climate change, sustainability, and GHG management.
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