Sustainability is Good for Your Outreach

It’s virtually self-evident that sustainability is beneficial for civilization today and tomorrow. Going green, protecting the environment, and maintaining the UN’s 17 Sustainable Development Goals or 2030 Agenda will certainly improve our lives and the lives of our descendants.

In case you’re not up on your sustainable parlance, 2030 Agenda was the desired shorthand version of the mission statement because it announced that the 17 goals should be attained by the year 2030.

But if universal altruism doesn’t impress you as an entrepreneur who is tasked with building business every day then you’ll be pleased to know that you can combine both vital matters. You can boost your outreach, build sales, be sustainable and successful at the same time because sustainability is good for your business.

From the 50,000-foot level: “Sustainability, the triple bottom line of economic profitability, respect for the environment and social responsibility: these are the new buzzwords of many a corporate annual report. Global companies everywhere are falling over themselves to declare their adherence to the principles of sustainable development,” observed Chris Boyd, senior vice-president, environment and public affairs, at manufacturer Lafarge, in an online article.

In other words, Boyd noted that “sustainability is largely a question of good business.” He assured his fellow business leaders that there is no fundamental contradiction between concern for the environment or social responsibility and the profit motive that has been the mainstay of the capitalist world.

“Greed is still good for you,” he stated tongue in cheek.

As a matter of fact, Boyd said it is good for your business to act in a more sustainable way, even where the market does not yet provide the appropriate signals.

On the social or community side, he said concern for sustainability is grounded in good business reasons. For example, his company’s cement business would have faced administrative difficulties without the support and understanding of local communities that are concerned with environmentally damaging ventures.

“Acting in a sustainable way can make firms more competitive, more resilient to shocks, nimbler in a fast-changing world, more unified in purpose, more likely to attract and hold customers and the best employees, and more at ease with regulators and financial markets,” he explained.

Wall Street is also taking notice of the positive effects of combining business and sustainability. Boyd explained that between January 1, 1999, and June 30, 2000, the Dow Jones Sustainability Group World Index–composed of sustainability-driven companies including Lafarge–outperformed the Dow Jones Global World Index by 127 basis point in US dollar terms. The index consists of the top 10% of companies seen as leaders in sustainable development. Their value advantage held in both bull and bear markets.

According to the website Robecosam.com, 1,500 investors representing more than $60 trillion in assets under management have committed to integrating sustainability into their investment decisions.

Financial investment analysts have determined that sustainability challenges are in fact shaping companies’ competitive landscape, and firms that take the lead in seizing these opportunities and managing risks associated with these challenges are best-positioned to outperform their peers. 

At the ground level, the same interest in sustainability can be seen with retailers on Main Street, USA.

A recent Nielsen global online study found that the tony Millennials continue to be most willing to pay extra for sustainable offerings—almost three-out-of-four respondents in the latest findings, up from approximately half in 2014.
Furthermore, the increase in the percentage of respondents aged 15 - 20, known as Generation Z, who are willing to pay more for products and services that come from companies that are committed to positive social and environmental impact was also strong—up from 55% in 2014 to 72% in 2015.

“Brands that establish a reputation for environmental stewardship among today’s youngest consumers have an opportunity to not only grow market share but build loyalty among the power-spending Millennials of tomorrow, too,” observed Grace Farraj, senior vice-president, Public Development & Sustainability, for Nielsen.

But don’t think that younger consumers are the only ones favoring sustainability. Don’t overlook gray-haired Baby Boomers in the quest for new business. Fifty-one percent of Boomers (aged 50-64) surveyed are willing to pay extra, an increase of seven percentage points since last year. This segment will remain a substantial and viable market in the coming decade for select products and services from sustainable brands.

Beyond sales opportunities, sustainable businesses are also more likely to attract good, young talent to their workforce. Reportedly, the highly educated, mobile and tech-savvy age group that falls within the demographic band known as Generation Y wants a workplace that’s like them: urban, flexible, collaborative, environmentally sensitive and unconventional. Incidentally, lifestyle is a sustainable consideration.

OK, so now you see the goal line of this project. But don’t stop planning. Once you decide to become a sustainable business, tell the world about it. As I have written in the past, use all forms of social media, Twitter, Facebook, etc., to promote your decision and projects. Follow the “sustainable” community with appropriate hashtags, join existing conservations and initiate your own. Share your point of view, explain your success, build followers and become a thought leader in the growing field of sustainable businessmen and women.

Tell your local government officials and other stakeholders about your plans. Take photographs and post them on Facebook and other sites. Traditional media outreach with press releases is also helpful in this effort because it can neatly tie all traditional and cyber efforts into an understandable package that talks about your business.

You should also be aware that civil society, which is already active in this mission, can be involved in your business as well.

Many businesses wrongly think of NGOs as adversaries and nuisances, and are quite content if they are not approached by them. Remember the scene from “A Christmas Carol” when Scrooge is approached by fundraisers? Not reaching out to NGOs is a missed opportunity to benefit from their expertise in material sourcing, water treatment and a host of other issues. Civil society can serve as partners in providing you with insights about sustainability and advancing your businesses’ sustainability efforts.

Send your examples

Join the conversation in cyberspace about boosting your business with sustainable projects and let me know your impressions. If you have examples of how you used social media to boost outreach, let me know about it and I’ll help you spread the word about your success.

I’d also like to invite you to visit my Thought Leadership website:

http://thoughtleadership.yolasite.com/