Corporate sustainability is a term that is more than just a buzzword. Mega corporations like Walmart, McDonald's, and others consider it a key priority moving forward. As per Investopedia, the three main pillars of corporate sustainability are social, environmental, and economic pillars.

Businesses need to develop models that will help them do more and better with less. The World Economic Forum (WEF) has given its verdict based on observation and current patterns that the future of business is digital and sustainable.

This means it is high time businesses jump onto the bandwagon of ethical practices if they wish to stay relevant and competitive. What will it take to build a sustainable future? In this article, we will discuss three ways in which companies across industry verticals can prepare themselves for a sustainable future.

Sustainable Product Design | ProductiveandFree — *Unsplash*

Choosing Sustainable Product Design

Since a brand is primarily known by the products that it manufactures, it must begin there. In other words, the first step towards a sustainable future is to integrate sustainability into the product designing stage. This may take different forms, as discussed below.

Safer Alternatives

If a company is looking to become sustainable, it cannot afford to skip the process of innovation. The level of pollution and toxicity today needs combating, which may take some time to overcome.

One area where innovation for safer alternatives is crucial is that of chemicals used. Most industries today use some or the other form of chemicals for their daily operations. Though most synthetic chemicals are harmful, none so much as per- and polyfluoroalkyl substances or PFAS.

Covering a large group of over 12,000 chemicals, PFAS have become more than just a pervasive nuisance. They can severely impact the environment and human health. The reason they're so difficult to deal with is because of wide industrial applications.

For decades, PFAS have been used to manufacture Class B firefighting foam or Aqueous Film Forming Foam (AFFF). These chemicals also form an important part of other industries like electronics, consumer goods, textiles, and more. They have been found to cause serious conditions like cancer.

This is mainly why firefighters have filed the AFFF lawsuit against PFAS manufacturers. It has been alleged that the defendants like 3M and DuPont were aware of the risks associated with their chemical compounds. In an attempt to milk profits, they chose not to disclose their findings.

According to TruLaw, even municipalities filed this lawsuit due to water contamination. These cases have been settled, whereas the former category still has over 7,000 pending lawsuits awaiting settlements. Given the gravity of the situation, PFAS will be completely banned by early 2026.

This means businesses must look for non-toxic alternatives for grease-proofing agents and firefighting foam. Thankfully, new methods and raw materials are emerging that can help fill this massive gap. It is time to incorporate sustainable practices for industrial compliance and consumer safety.

This is simply just one example. There can be several more that extend beyond chemical management. That would include renewable energy, biodegradable materials, and lean manufacturing.

Better Packaging

Innovation is not only required in the product design but also for its packaging. Studies have discovered the presence of over 3,600 toxic chemicals that leach into food through its packaging.

What makes this news worse is the fact that traces of the aforementioned PFAS have also been found on food packages. The primary purpose is to make it grease and oil-resistant. Companies need to choose safe packaging options, which would include renewable and biodegradable materials.

Examples of non-toxic packaging would be paperboard, cardboard, and glass. Even here, the life cycle of the packaging must be considered, right from the time of production up until composting. As for the PFAS coating in food packages, some better alternatives would include seaweed and bio-wax.

Sustainable Supply Chains | ProductiveandFree

Building Sustainable Supply Chains

A second way companies can showcase their commitment to sustainability is by building a better supply chain. One that is sustainable would be designed based on a consideration for the social and environmental impact of operations. The aim is to minimize environmental impact while positively impacting communities.

A sustainable supply chain would be composed of green practices, good labor ethics, and 100% transparency. So, how can businesses build a sustainable supply chain?

They must start by sourcing raw materials responsibly. All outside vendors must be vetted thoroughly for fair labor practices and sustainable sources.
The manufacturing process can be streamlined to reduce the consumption of natural resources.
Adopting practices that reduce carbon emissions, including the installation of smart sensors, improving last-mile delivery, etc.
Using blockchain technology to authenticate the origins and integrity of products
Proper collaboration with other companies that also strive towards sustainability.

Educating Employees

Employees are among the greatest assets a company can possess. Unless employees are aware of sustainability practices or objectives, it won't be possible to be prepared for the future.

When businesses educate their employees on sustainability, they can ensure cost reduction, reduce environmental impact, attract better talent, and secure favorable market credit. Research conducted in this area found that companies that empower employees for sustainability bring about lasting organizational change.

So, how can companies educate their employees on sustainability? Let's look at some ways -

The first step is for the higher management to communicate the importance of sustainability to all organizational levels. Highlighting the long-term purpose of sustainability is crucial.
Regular training sessions must be conducted to help employees engage with sustainability initiatives.
Companies should celebrate achievements and provide constructive feedback to motivate workers.
Sustainability progress should be tracked via detailed performance reports.

From what we have discussed, it is clear that sustainability is the need of the hour. Corporate strategies that lack sustainability may render the business incompetent and non-resilient to future challenges.

As per McKinsey 2024 Energy and Materials Perspectives, the vision of a net-zero future is moving at a slower pace than expected. This is only because companies are still struggling to meet the demands of a sustainable future.

Has your firm started implementing the strategies we just discussed? If not, there is no time to waste.