A company is established to generate profit, not to protect polar bears, nor save the world. If that was the goal, they would have instituted a charity. Then why are so many companies riding the Green Revolution and implementing sustainability into their business model?
I follow the Sustainable Business Blog because it provides updated and critical blog posts on environmental issues of business entities, written from the perspective of business professionals in the industry.
After reading two posts from the Sustainable Business Blog, the importance of sustainability became much clearer to me.
1. Risk of Losing Stakeholders’ Trust
– A company that trashes the environment and has no concern towards its surroundings are running the critical risk of losing stakeholders’ trust. If this company is so ruthless in decision-making, will they be just as irrational with other major business decisions? Hence, destroying trust rather than building it.
2. Sustainability creates Value
– As the owner of Gucci said, “Sustainability can[…] give rise to new, highly ambitious business models and become a lever of competitiveness for our brands.” With sustainability on the rise, companies that do not employ greener approaches to their business will fall behind and lose value.
Stella Mccartney has always been an active supporter of sustainable fashion
Blog Article 1:Why luxury goes hand in hand with sustainability Blog Article 2: Firms need to embed sustainability in decision-making – or lose people’s trust