We hear the word “sustainability” often. And its use is only growing – almost daily, it seems. In newsfeeds, annual reports, quarterly reports, recycling reports, and more. The reason we’re seeing it so often is that there’s been a shift in how businesses define success. As recently as 20 years ago, success was measured almost exclusively by one metric: financial.
Today, businesses must consider multiple factors when determining success and attracting the capital they need to grow. Environmental, social, and governance (ESG) now factor heavily into the definition of success. Increasingly, a successful company IS a sustainable company and one that considers energy and carbon, water, waste, and recycling into their corporate calculus.
Banks, private equity, and investors are all after one thing: return on investment. And those with the money will put it into businesses that are growing.
Businesses that used to measure their success only in financial terms now recognize that to be successful in today’s hypercompetitive environment: customers are demanding more. They want a quality product at a fair price that doesn’t compromise the environment; that promotes fairness and observes the rights of others. Successful companies “get” that their customers will gravitate to companies that hear them and then deliver on the message.
This recognition stretches from the boardroom to the boiler room. And that it’s important is evidenced by the fact that sustainability is only growing. Companies responding to the cues they get from their customers are managing resources more wisely. They don’t waste water or energy and recycle and repurpose byproducts. These are going to be the winners in the coming years. And those managers and staff who can help them get there will be rewarded for their efforts.
Let us know what you’re doing to make your business more sustainable and, by extension, more successful. Please send me an email, personally, to k.malloy@cumberlandrecycling.co. Or you can visit our website at https://www.cumberlandrecycling.co/. We look forward to hearing from you.