The safety of our planet is continually threatened by global warming resulting from human and industrial activities. Although we are far from reversing some of the repercussions resulting from pollution-emitting activities of man, some companies are showing leadership by implementing long-term projects which offer solutions to the waste challenge we are confronting.
A collaboration of Eco-Business and City Developments Limited actualized ‘Trash or Treasure’, an initiative in support of Singapore’s declaration of 2019 as a year of Zero Waste. During the event, experts from various industries shared insights as to how businesses can adopt certain practices in their daily operations to reduce or eliminate their wastes. The challenges encountered by businesses implementing sustainability practices were also highlighted.
A good number of businesses – both big and small – have been established with the primary objective of adopting sustainability practices to achieve a waste-free society. A model example is Greenpac which was found with a central identity on sustainability. Nevertheless, just like every other business ventures, these businesses often encounter specific challenges that deter them from implementing these practices. These challenges include:
- Lack of Knowledge: Many companies today do not practice sustainability because they lack awareness of how their present methods negatively affect the ecosystem. Most of them also require the professional counsel needed to assess their operations and understand how implementing sustainability practices would increase profit and at the same contribute to saving the earth.
- Unwillingness to Change Practices: Not everybody has the wits to leave his business comfort zone and venture into a practice that is probably still new to them.
- Monetary Cost of Sustainability: Since sustainability practices involve implementing practices that may require the use of materials which may be more costly than conventional ones, most businesses may not find the practice worthwhile.
- Political barriers: The political atmosphere in the region where a business is located often dictates the kind of practice it adopts.
- Cost of waste management is increasing: The cost of waste management (especially treatment) is a significant challenge confronting firms willing to implement sustainable practices.
- Increase in environmental rules, as well as the Cost of Materials: Not only, waste management costs but the supply of virgin materials is becoming increasingly expensive.
In essence, not only are sustainability practices beneficial to the environment, but business owners can also enjoy great benefits from implementing them. They include:
- More sales, customers favour businesses which show their commitment to the environment,
- Greater employee motivation as a result of the dedication to a cause,
- Save money from the business process since the production of wastes would be minimized.
More details about the event can be found here:
- Trash or treasure: What does a zero waste business look like? event organised on 10th January 2019
- If you can’t beat them, join them: Can rival businesses collaborate for sustainability?, by Eco-Business, on 16th January 2019
Image: MichaelisScientists [CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0)], from Wikimedia Commons