Every business activity should be socially responsible. It’s an attempt to contribute to sustainable economic development, to achieve the goal of improving the quality of life, without jeopardizing the ability to meet the needs of future generations. Social responsibility is one of the best ways to attract and retain a quality workforce, especially highly educated, skilled and creative people, which opens up space for innovation, which is one of the main preconditions for competitiveness and long-term survival of the enterprise.
The fundamental problems of modern man are safety and environmental problems, respectively protection of employees at work and environmental protection are the most threatening problems the existence of man and his health. Modern technology that every day more and more enhances it and has positive effects on society as a whole, thus also producing negative effects that affect faster or slower physical destruction of the environment, and reduction and even extinction overall flora and fauna in the wider or narrower area of industrial facilities.
Sustainable development goals must necessarily be the focus of every company and every sector. The emphasis is on partnership and involvement of all sectors of the economy and society to progress towards the world we want to live in.
Sustainable development is imposed as a “solution for achieving a balance between improving the quality of life (economic component), achieving social well-being and peace (social component) and created preconditions for preserving the natural environment as a common good (ecological component) on which the survival of present and future generations depends.
So, we see that preserving the environment plays one of the key roles in sustainable business, and here are the ways.
1. Reduced water and energy consumption of generated waste
One of the important issues facing society today is the issues of pollution and the depletion of natural resources. Due to increasing air pollution, toxic wastewater, damage to the ozone layer, there is a growing increase in disease, ie it poses a serious threat to human life and health. Therefore, any organization, regardless of size, can and should reduce the negative impact of its business on the environment. For example, by reducing the release of harmful substances, reducing the amount of waste produced, and using more expensive and non-renewable resources more rationally. This can be one way of expressing social responsibility and ethics, and at the same time can achieve significant savings.
2. Gas emission reduction (GHG)
If the pollution caused by a certain producer is reduced to a minimum, the existence and performance of business activities of that product are called into question, which at the same time calls into question the existence of owners, management, and employees. Thus, the costs of reducing pollution emissions are often higher for society, but it is certainly profitable in the long run.
3. Improving packaging, increasing the return and recycling of packaging, reducing waste going to landfill
Uncontrolled technological development has caused enormous damage to media, water, air, soil, biodiversity loss, and global climate change. These environmental damages have been created for decades. Under the pressure of problems such as global warming, hunger, and disease, the view has been accepted that a new concept of development must be created that would imply technological progress, but with a reduction in environmental pollution. Sustainable business reduces pollution by changing the location of pollutants, treating waste, recycling residues, changing production technology, as well as replacing inputs – raw materials and supplies.
4. Responsible supply
Purchase and installation of new equipment, research and development activities, training of employees on the importance of environmental protection and eco-production, use of adequate materials and raw materials in the production process, as well as responsible treatment of production residues are costs that the company pays at present. at the same time, they can be understood as investments that will enable better performance of the company in the future, following the principles of sustainable development and thus higher profits. Preventive environmental protection reduces the costs for future payments of legal penalties but also implements the concept of corporate social responsibility, which is becoming increasingly important from the aspect of society, especially in the field of environmental protection and sustainable development. Another problem that may appear in the final phase of reproduction, ie the sale of finished products to customers and consumers is the decline in sales.
Corporations must meet human needs by increasing environmentally sustainable production and providing equal opportunities for all. They have to introduce new ways of management that take environmental costs into account when determining operating costs. Also, the role of local authorities in environmental management is indispensable. Local authorities can influence the change of people’s behavior, establishing communal infrastructure, determining fees related to waste and wastewater disposal, etc. That is, politicians, experts, scientists, entrepreneurs, and all other stakeholders must find solutions to how to ensure economic growth that is in line with the rational consumption of natural resources and ecosystem.
So, from all this, we can conclude that ESG (Environmental, Social, and Governance) is a key factor in a successful sustainable business, which you can learn more about on this page.
The concept of sustainable development is also accepted in the business world and some big world corporations use the term corporate sustainability. This term describes the impact of an enterprise on the economic, social, and environmental dimensions. The concept of sustainable development is also described as a three-balance sheet impact of enterprises on economic, environmental, and social dimensions. However, for the notion of sustainable development, it is typical that it encompasses a stronger emphasis on the environment and that companies that apply this terminology tend to be more engaged around environmental impacts.
Companies base their growth and development on knowledge, ie constant investment in human resources capital. However, due to human greed, it is important to make a profit when making a profit technological progress includes ethics, which warns of the consequences it may have caused. That is the purpose of socially responsible business and sustainable development. That stresses the importance of companies incorporating social care into their business activities issues and environmental protection.