Running a sustainable business involves being mindful of your actions and considering their impact on the environment and community. There are various straightforward adjustments that businesses can implement, and new innovative ideas are emerging regularly.
Sustainable business in New Zealand involves considering the environmental impact of the products and services used. Often, sustainable practices are similar to standard practices, and small adjustments can have a significant effect.
Improving your business’s sustainability involves evaluating its activities, purchases, and waste management. It also requires transitioning to eco-friendly, locally sourced, organic, or low-emission options.
How to be environmentally sustainable
There are several benefits of being an eco-friendly business in New Zealand. These include:
- Attracting more customers – studies show that many people prefer to deal with businesses that are socially and environmentally responsible.
- Lowering costs – an energy-efficient workplace can reduce energy expenses by approximately 20%.
- Marketing advantages – sustainable practices, products and services can often be a unique selling point for a business.
- Reducing costs – an energy-efficient office spends about 20% less on their energy bills.
- Avoiding risks – environmentally harmful practices can harm your reputation and lead to mistrust among your customers, investors and the wider public.
Developing your unique selling point
If customers learn about a company acting irresponsibly or unethically, 90% of them would stop purchasing their products or services.
Better futures report [PDF, 6.7MB] — Colmar Brunton
If you’re embarking on your sustainability journey, there are some fundamental concepts you should be aware of.
The circular economy is a concept that considers the entire lifespan of a product. Rather than creating a product that is used and then thrown away, the goal is to use it for as long as possible before recycling and reusing it. This approach can help reduce waste in supply chains and may even result in cost savings.
A good example of this is the recent ban on single-use plastic bags in New Zealand, which has prompted businesses to offer more sustainable options and encouraged customers to bring their own reusable bags.
Plastic bag ban — Ministry for the Environment
This approach considers a business’s performance in three dimensions: financial, social, and environmental. By valuing a business in these three ways, it provides a more comprehensive view of its performance for staff, customers, and potential investors.
Your business and the triple bottom line [PDF, 320KB] — Ministry for the Environment
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