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Sustainable business practices have become a key component in corporate business strategy and may be the secret to a successful and long journey. The latest Azets Barometer shows that 83% of Swedish companies are implementing sustainability initiatives, which is more compared to companies in other Nordic countries. Here, we share some steps and tips to guide your company towards a more sustainable future.
The latest Azets Barometer shows that 83% of Swedish companies are implementing sustainability initiatives. The Azets Barometer is Azets' survey that illustrates how small and medium-sized businesses in the Nordics, the UK, and Ireland perceive the business climate.
In addition to basic initiatives such as recycling and energy saving, more than half (57%) of Swedish companies implement more advanced options such as employee training, adjustments in the supply chain, carbon dioxide emission compensation, and circular economy.
See the full results from the Azets Barometer in an interactive dashboard.
Running a business is not just about watching numbers grow but also about creating a meaningful impact on society and our environment. Here, we share some steps and tips to guide your company towards a more sustainable future.
What does sustainable business entail?
Conducting business in a sustainable manner involves incorporating economic responsibility, social justice, and environmental considerations into the company's DNA. Sustainable business means striving to balance economic growth with positive effects for both society and the environment.
Why should companies invest in sustainable work?
Sustainable work is not just a trendy term—it has tangible benefits for companies. By investing in sustainable methods and processes, companies can reduce their costs, increase efficiency, and attract both customers and talents who share the same values. Additionally, it builds a more resilient company against future challenges and legal requirements regarding environmental and social responsibility.
How can your company become more sustainable?
1. A sustainable business model
The business model is key to economic stability and sustainability. How do you generate revenue, is the production of your goods sustainable, and what customer value do you provide? These are important aspects to keep track of to ensure that the business model is both long-term and sustainable.
2. Develop a sustainability policy
Unlike just an environmental policy that only covers environmental issues, a sustainability policy is a good alternative for including social and economic responsibility. Set up concrete and measurable sustainability goals for the company that are also tailored to your operations.
3. Involve the staff
Your team is an invaluable resource for implementing sustainable changes. Educate and encourage employees to share their ideas and suggestions for improving the company's sustainability efforts. This involvement not only strengthens the team spirit but also generates innovative solutions.
4. Suppliers that share your values
A sustainable company takes responsibility for the entire supply chain. Review your suppliers and choose those who share your sustainability values and comply with your policy. It creates a positive chain reaction and inspires other companies to become more sustainable.
5. Implement circular economy
Unlike a linear economy, where products are manufactured and then discarded, the circular economy is about making use of everything for as long as possible before recycling. With a circular economy, companies contribute to sustainability by reducing waste and optimizing resource utilization.
6. Spread the word
We all must contribute to sustainability. Report on the progress of your sustainability efforts. It may also motivate employees, inspire other companies, and show your customers that you are taking responsibility for the future and your business.
Running a sustainable business is a continuous journey that requires commitment and adaptation. By integrating sustainable principles into your operations, you will not only be a positive force for society and the environment but also build a stronger and more resilient organization.
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