In this issue 3 of The Road to Sustainability we would like to address some notions about the meaning and importance of the great underlying theme, in relation to the concept of economic development. The term sustainability arises at the end of the 20th century, decade of the 90’s, mentioned as “sustainable development” and represents the transition of today’s society to a more environmentally friendly society. It is a mode of development that aims to ensure a balance between economic growth, environmental preservation and social well-being.
Today, sustainability has become a driving force in the world of business and the global economy. It is not simply a passing trend; it is an urgent necessity to ensure a future of conscious progress for generations to come. In this article we explain what sustainability is and how it benefits both markets and companies. We mention that, as a set of actions and as a philosophy, it is reshaping the way businesses operate and is driving sustainable economic growth.
What is Sustainability?
Sustainability is a broad concept that encompasses the balanced interaction between economic, social and environmental aspects of human development. It is about meeting the needs of the present without compromising the ability of future generations to meet their own needs. Sustainability manifests itself in various dimensions, including natural resource conservation, social equity, economic efficiency and resilience in the face of global challenges.
Sustainability and Global Markets
To understand why there is a need for a sustainability standard for dehydrated plums in Chile, it is worth mentioning that sustainability is currently exerting a significant influence on the vast majority of global markets.
As awareness of environmental and social issues grows, investors and consumers are increasingly demanding that companies operate in an ethical and sustainable manner. This has led to a paradigm shift in investment decision-making and consumer preference.
Companies that adopt sustainable practices often experience easier access to international markets and higher customer retention. In addition, they are better positioned to address the risks associated with changes in environmental and social regulation.
Investors are also looking for opportunities in companies with a clear focus on sustainability, as they recognize that these companies have long-term growth potential and a lower risk of losses related to environmental or governance issues.
The Benefit to Business
Far beyond being just an ethical obligation, as it is often mistakenly viewed, the adoption of sustainability is also a growth driver for companies. Here are some ways in which industry can benefit:
Improved operational efficiency: Sustainability often drives innovation in processes and technologies, which can lead to greater efficiency and reduced costs. For example, implementing waste management practices can save money through the reuse and recycling of materials.
Access to new markets: Companies that adopt sustainable practices can attract new market segments that value social and environmental responsibility. This can result in increased sales and expanded customer base.
Risk management: Sustainability helps companies identify and manage risks related to climate change, environmental regulation and other external factors that could affect their operations. Proactively managing these risks can avoid costly business disruptions.
Talent attraction: Sustainable companies tend to attract and retain talented and committed employees. Corporate culture centered on ethical values can improve employee morale and productivity.
Reputation and brand: Sustainability can enhance a company’s image and brand, which in turn can influence customer loyalty and investor confidence.
Finally, it is important to mention that sustainability is no longer just an option for companies, but an imperative in today’s business landscape. Those organizations that embrace sustainability not only contribute to a better future for the planet and future generations, but also reap numerous economic benefits.
A concept whose praxis is multidimensional and, from improving operational efficiency to accessing new markets and managing risk, sustainability has become a catalyst for business success in the 21st century, meaning that companies that recognize and embrace this paradigm are positioned to thrive in an ever-changing world where sustainability and profitability go hand in hand.
https://www.forbes.com/sites/forbesbusinessdevelopmentcouncil/2022/09/01/5-reasons-sustainability-is-beneficial-for-business-not-just-the-environment/
https://www.british-business-bank.co.uk/finance-hub/business-guidance/sustainability/what-are-the-benefits-of-sustainability-for-smaller-businesses/
https://elpais.com/economia/estar-donde-estes/2020-08-17/la-sostenibilidad-estrategia-rentable-para-las-empresas.html
https://capacitacion.uc.cl/noticias/275-la-importancia-de-crear-empresas-sustentables
https://www.ikusi.com/mx/blog/empresas-sustentables-por-que-convertirse-en-una/
https://www.eleconomista.com.mx/opinion/Comprometidos-con-las-personas-comprometidos-con-el-futuro-20230214-0098.html
