Sustainability is Good Business
For many businesses, sustainability is a nice idea that looks better on paper than in practice. Yet, research shows that sustainability doesn’t just sound good — it’s smart, and it works.
Sustainable Brands has compiled a list of 22 research studies that show sustainable practices lead to long-term benefits. The studies cover multiple benefits, from global reach and stock market value to brand trust and product sustainability. For example:
- Project ROI, an initiative created in partnership with billion-dollar corporations Verizon and Campbell, the research firm IO Sustainability, and Babson College, drew from hundreds of research studies to quantify the benefits of strong sustainability programs. When done right, the project concluded, sustainable initiatives can increase sale revenue by up to 20 per cent, increase market value by nearly 10 per cent, lead to lower investment risk and cut employee turnover rates in half.
- Sustainability can boost profits through the little actions employees take on a routine basis. Research shows that WeSpire Sustainability, an online employee engagement project based on behavioral science, has helped MGM Resorts save about US$5 million annually by engaging nearly a third of its employees (19,500 people) in a social media platform that guides green actions related to waste, water, fuel, emissions and energy.
As globalisation strengthens communication across the world, relationships with local communities are more important than ever for multinational corporations to achieve success, according to business, international relations.
For Tanzania global direction is the only way to go – locally, we are lacking the current data to quantify the benefits, but we live in a global community.