The Business Case for Sustainability
Why is sustainability important?
The Oakville Sustainability Initiative is being launched at a time of intense debate about the role of business in our municipalities and regions, particularly in relation to major issues such as waste management, pollution, land usage, and poverty. The strategic directions being set by our businesses today will have profound consequences for future generations in the our region, and in such a context, we believe business should be clear about its purpose and candid about its dilemmas. (Read about evolution of the sustainability movement and a new era)
Is there a business case for sustainability? Bob Willard, 34 year veteran of IBM Canada and author of The Sustainability Advantage, indicates that a typical SME can obtain up to 66% profit improvement over a five year period. He also discusses why some companies are committed to sustainability and others are not, and how to overcome resistance to making that commitment.
Just as in government, businesses that incorporate a sustainability framework into their vision reap powerful business opportunities in the future:
- Easier hiring of top talent
- Higher retention of top talent
- Increased employee productivity
- Reduced manufacturing expenses
- Reduced expenses at commercial sites
- Increased revenues and market share
- Reduced risk, easier financing
The Future of Business in the Region
In the future, leading businesses will have a sustainability framework for making decisions and innovation at the heart of their activities:
- Financial institutions will begin to reward more sustainable companies, products, and services.
- We will see more sustainable building and transport options.
- The retail sector, and especially the food retail sector, will deliver more sustainable goods to their customers.
If you would like to join the Oakville Sustainability Initiative and
become an early adopter, please contact us.
