Sustainability: Get ahead now, or fall behind fast.
Back in 2009, a study completed by A.T. Kearney found that companies that focus on sustainability outperform other competitors in their industry by an average of 15 percent over the span of six months. In a 2012 survey of nearly 3,000 company officials, MIT found that two thirds of the officials believed that sustainability was critical to stay competitive in today's marketplace.
We're headed into 2016. If your business isn't moving ahead on sustainability, you're falling behind. The increasing cost of materials, energy and compliance and increasing expectations of important stakeholders makes the case for sustainability clear. For companies in the U.S. and around the world, social and environmental responsibility matters more than ever.
Benefits of Embracing Sustainability
Costs: In some ways, sustainable practices can lower production expenses. Sustainable practices can improve efficiency by using fewer materials, energy, water and other inputs to produce each product. Expenses related to waste can be lowered through the use of cheaper and more sustainable materials and energy sources.
Customers: The facts don't lie – customers will pay more to sustainable businesses. According to a 2014 Nielsen survey, more than 15,000 global respondents said they were willing to pay extra for products and services from companies that commit to generating positive social and environmental impact. That number increased by 5 percent each year from 2011-2013. Sustainability also matters in business-to-business transactions. Through its Sustainability Index program, Walmart analyzes the level of sustainability of the products that they buy from suppliers, which helps to build trust in its customer base.
Compliance: Regulations - like the EPA's updated National Ambient Air Quality Standards for ground-level ozone released in October - are likely only to become more stringent in the future, so staying on top of sustainability practices is critical.
We're here to help.
Becoming a more sustainable manufacturer has many opportunities and challenges – Nebraska MEP is here to help guide your business during the process. Our Partners in Pollution Prevention (P3) program will move you one step closer to achieving your sustainable environmental and business goals. Use P3’s technical resources to help identify, evaluate and implement resource conservation and pollution prevention projects. Find more information on the program and its requirements here: http://nemep.unl.edu/p3-partners-pollution-prevention.