Sustainable Development, Why Adopt it in Your Company?

Article DD SW ANG 2

It’s impossible to ignore the fact that sustainable development is gaining popularity. Being innovative is one of the key elements to strengthening a company’s business strategy. Sustainable development can guide you towards new, innovative, responsible and sustainable business practices.

What does sustainable development mean for a company?

Sustainable development translates into the progressive adoption of management practices that improve the company’s performance in the following areas:

  • Financial
  • Environmental
  • Social [1]

This approach allows the company’s activities to have positive repercussions on its business environment and community resulting from management practices that are both eco-friendly and innovative [2].

This consists of a process that can be applied to all types of businesses and can be adapted according to the resources available.

Why be sustainable?

Companies that are ahead on environmental and social issues have superior financial performance. They attract and retain employees more easily and face lower financial and reputational risks [3].

What are the benefits for companies that undertake such an approach?

Implementing a sustainable development strategy can lead to a number of benefits.

 Cost Reduction:

Cost reduction is undoubtedly one of the main benefits of sustainable development that includes policies on:

  • the recycling of waste.
  • resource and purchase reduction.
  • the utilization of eco-friendly materials.
  • saving energy.

 Improvement of Brand Image:

Your company’s image and reputation are critical. Sustainable development can help improve your credibility, allowing you to stand out from your competition.

Consumers tend to have greater trust in companies that are committed. Social responsibility will help improve your image and market position. Sustainable development can be very appealing to your customers.

Build and Retain your Customer Base

Consumers recognize the importance of fair trade, respect for the environment and social equality. This motivates them to encourage companies that meet criteria such as:

  • The use of recycled materials in branding
  • Online services
  • E-receipts

Attracting More Talent

The image your company projects will inevitably have an impact on your staff. With better environmental and social practices, your company will be better able to attract top talent.

Young professionals will want to work for a company that has a good reputation and is committed to its community. Your commitment to sustainable practices will motivate your employees and reassure them that you care about their well-being, the environment and your community.

Becoming Competitive

Sustainability will also allow you to become more competitive. By committing to this approach, you will demonstrate your social commitment and will have a greater chance of standing out from the competition and gaining a foothold in the market [4].

The SADC Papineau-Collines can accompany you towards a sustainable development approach. You can benefit from the services of an expert who will help you develop a personalized action plan to guide you towards new responsible and sustainable business practices.

For more information, contact :

Moez Jouini
Sustainable Development Advisor
819 986-1747 ext. 205
mjouini@sadcpapineau.ca