How can you build a sustainable business?

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At Blincventures.com we have always emphasized sustainability.With time and situations sustainability has moved on from good-to-have to a-must-have. However, the path to sustainability is not easy. There is no one size fit all to integrate sustainability into your venture but these are the questions you can take into consideration to get started with.

This article was originally published on LinkedIn and was written by Zitin Munshi, Founder of Next Mile Co along with Neha Bhagtani, Sustainability Professional.

A few years ago, we came across a cartoon talking about the ‘Climate Summit’ and very aptly the character was asking a rhetorical question: “What if it’s a big hoax and we create a better world for nothing?” That Joel Pett Cartoon is still a favourite and rings a bell every time.

Time and again, articles talk about how business growth and sustainability are linked, how useful sustainability is, how it affects the top and bottom line, how the pandemic has brought sustainability / Environmental, Social and Governance (ESG) into focus, and the list goes on. All these articles are important to create that level of awareness and momentum. However, we want to take a slightly different approach here.

As we grapple with a global health crisis, we would like business leaders like you to rethink ‘business as usual’. There is no fixed one step solution to integrate sustainability into your venture but listed below are a few questions to get you started, as a business leader to initiate integration. 

  • Are you convinced about the correlation between your business’s survival and the ecosystem?
  • Are you, as a leader, ready to leverage the opportunity arising from embedding sustainable business practices? 
  • Do you understand the interdependency between your business and it’s internal and external stakeholders (including the supply chain) and the three pillars of sustainability?
  • Do you evaluate long term business ESG risks and opportunities along with bench-marked sectoral sustainability trends while conducting risk assessment or business continuity planning?
  • How can you drive business-led sustainability stewardship through meaningful action?
  • Post the pandemic, how would you adapt your business to be better prepared for the next crisis?
  • Do you have sufficient and relevant resources to think critically about opportunities that sustainability presents?

This limited set of questions serve as a starting point for business leaders to begin their sustainability journey. 

To conclude, here is a fundamental question we would like to leave you with: Do you need a reason to focus on creating a better world while making profits, even if it is for nothing?

Find the original article here!