Incorporating sustainability into corporate policymaking is vital to preserve the long-term well-being of communities and the environment. Typically, it is governments that take the prime role in this effort, but businesses—especially those that focus on environmental entrepreneurship – play just as an important part.
That is why three out of four respondents to a recent Deloitte survey reported making investments in an environmentally friendly future.
However, entrepreneurs are often unaware of the exact tools they possess and can utilize to boost their long- and short-term sustainability. Expert networks can help them to address this.
What is a ‘sustainable policy’?
A sustainability policy highlights an organization’s commitment to following procedures and guidelines that support socially and environmentally responsible operations.
Business sustainability statistics
According to the Deloitte 2023 CxO Sustainability Report, over 60% of business leaders commented that their company’s strategy and processes will face serious impacts from climate change in the next three years.
In their effort to mitigate these vulnerabilities, many business leaders are focusing on activities to improve their sustainability, such as increasing energy efficiency or using more sustainable materials in production. However, the majority still face a massive barrier in transforming the linear business model into a circular model.
Why is sustainability in policymaking important?
Sustainability policies not only help businesses to comply with environmental and social regulations but also foster a more efficient and forward-thinking workplace culture by minimizing waste and conserving energy.
But developing an effective sustainability strategy requires a structured approach. To guide your efforts, consider the following key questions:
- Which are the key areas where your company impacts the environment?
- What steps will you take to address these issues?
- Are you fully informed about current environmental regulations?
- How will your company ensure full compliance?
- How will you engage employees to implement the policy and inspire collective action?
While it’s easy to declare a commitment to sustainability, what is the true goal of your policy?
Knowing your business procedures inside out will help you to identify areas for improvement.
A strong environmental sustainability policy can help businesses to reduce waste, lower energy consumption, and even cut production costs.
For example, Patagonia (a retailer of outdoor recreation clothing) has committed to using 100% renewable energy and the sustainable sourcing of raw materials.
According to Dean Emerick, an expert in sustainability issues, establishing a strong policy can bring multiple benefits to businesses. From meeting legal requirements to opening new opportunities, it can and should be part of a corporate strategy.
To be more precise, sustainability policies can:
- Help to meet legal requirements
- Increase access to capital by appealing to investors
- Cut operational costs via improved energy and resource efficiency
- Help companies to adapt to evolving consumer expectations
- Open up new opportunities for business growth.
Establishing a strong sustainability policy can give you a competitive edge by appealing to environmentally-focused clients.
How can expert networks help businesses in terms of sustainability?
RightAngle is an expert network that helps you connect with experts from a variety of disciplines, including economics, social policy, environmental science, and technology. Our clients can therefore gain insights that can help them to make informed decisions.
Here’s how expert networks can contribute to sustainable policy-making and business strategies:
1. Providing holistic solutions
RightAngle finds experts who can help businesses and public authorities to address sustainability issues from a variety of angles. This ensures that policies are well-rounded and consider economic, environmental, and social impacts.
2. Ensuring lasting positive incomes
Long-term sustainability is the most important goal. Experts can help both governments and companies to evaluate the long-term implications of their policies, thereby increasing the chances of long-term success.
Expert networks bring together specialists, authorities, businesses, and other key stakeholders to help develop effective and impactful sustainability policies.
3. Evidence-based decision making
Reliable data is vital for making informed decisions. Experts can carry out research and analysis, helping stakeholders to design policies that are based on accurate information.
4. Encouraging innovation
Environmental entrepreneurship thrives on innovation. With expert networks, you can connect with professionals and businesses with cutting-edge research, technologies, and best practices. This fosters the creation of sustainable solutions such as renewable energy or waste reduction strategies.
How can these actions produce concrete results?
RightAngle has helped companies to gain valuable insights across various industries, leading to significant improvements. Here are a few concrete results achieved by our clients after working with RightAngle.
- Implementing digital automation in the pulp and paper industry to reduce waste and improve sustainability.
- Developing a CO2 assessment tool for procurement departments to evaluate emissions.
- Gaining insights into sustainable energy procurement across sectors.
- Learning best practices in packaging for consumer goods, focusing on cost and plastic reduction.
- Identifying key trends in the European recycling network for more efficient models.
These insights have boosted clients’ sustainability and operational efficiency.
Final word:
Expert networks are essential for businesses seeking to advance sustainable policy-making and business practices. By providing access to specialized knowledge, these networks can help to drive effective, sustainable solutions for the future.
By leveraging expert networks, businesses can work together to increase profits and create a more sustainable, resilient future.
Suggested reading:
The Impact of Expert Networks on Customer Experience Strategies
Fintech Ecosystems: Future Trends and Expert Networks Impact
The Role of Expert Networks in Navigating the Real Estate Industry
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