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World Environment Day, a United Nations day to advertise environmental awareness and encourage motion, recently took place and is a good reminder of how necessary it is for firms of all sizes to evaluate their environmental, social and governance (ESG) goals and sustainability efforts. But awareness and motion are evergreen. Recent statistics show that sustainability is more necessary to consumers and employees than ever before; nearly 70% of employees said they might be more likely to just accept a job at an organization that considered environmentally sustainableeven if it meant a lower salary.
It’s necessary for small and medium-sized businesses (SMBs) to maintain these statistics in mind because not only can sustainability efforts attract top talent, but they may profit the company financially. For example, investing in high-quality technology products that might be easily repaired and upgraded helps extend the lifetime of a product and build a more sustainable technology industry, saving money that will otherwise be spent on latest devices.
I have at all times believed that sustainability is about finding solutions with significant long-term impact and how we are able to work together to create a higher tomorrow. Fortunately, sustainability is at the heart of what we do at Lenovo. We have not only developed plastic-free packaging for many of our products, but we have also taken necessary steps to assist customers reduce their carbon footprint. We recently launched Lenovo Intelligent Sustainability Solutions Advisor (LISSA)an AI-powered sustainability module that gives customers with actionable insights to grasp the estimated emissions impact across the full lifecycle of their IT systems and implement tailored solutions aligned with their sustainability goals.
Lenovo has also committed to achieving net-zero greenhouse gas emissions by 2050, with science-based targets validated by the Net-Zero standard under the Science Based Targets Initiative (SBTi).
Here are three essential ways your small or medium-sized business can integrate sustainability principles into its entire business process.
1. Reduce, Reuse, Repair
Electronic waste is often missed, but it is a huge problem and it is growing. According to the United Nations, roughly 53.6 million metric tons of electronic waste are produced every 12 months throughout the world.
That is why the term ““Reduce, Reuse, Repair” ought to be a priority for all small and medium-sized enterprises that need to operate more sustainably.
One approach to reduce waste is to implement circular economy practices for electronics in your small business. Part of this involves adopting practices that prioritize product durability and repairability.
Invest in high-quality technology products and laptops that are designed to be easily repaired and upgraded, extending their lifespan. Look for repair-friendly technology that has easily replaceable parts for your employees. Employees will give you the chance to quickly repair their devices themselves, reducing the downtime they might normally spend waiting for technical support.
2. The power of packaging
Business owners often overlook the role of packaging in their sustainability practices, but it’s a big deal. In 2019, global e-commerce used an estimated 2.1 billion kilos of plastic packaging, and that number is expected to grow greater than doubled to £4.5 billion by 2025. This implies that sustainable packaging is incredibly necessary not only for the products firms sell, but also for the devices they decide to buy.
Whenever possible, SMEs can buy products that use recycled, renewable, and bio-based materials. For example, bamboo and reed fiber are great alternatives to traditional packaging because they are made from 100% renewable materials. Therefore, look for partners and suppliers who focus on reducing packaging consumption and promote an ecosystem of more sustainable practices and solutions.
Small and medium-sized businesses that sell physical products should take similar steps to make sure they are not creating excess waste in their packaging and shipping processes, ensuring that they are sustainably manufactured and recyclable. Highlighting sustainable packaging is not only good for the environment, it is going to also resonate with eco-conscious consumers and can have a positive financial impact on your brand. Recent studies, including those conducted by IBM, NRF and the Baker Retailing Center at the University of Pennsylvania, have shown that between half and two-thirds of consumers say they can pay more for sustainable products; for consumers aged 18 to 34, this figure rises to 80%, in accordance with Business Sustainability Index Report.
3. Invest in the future
Sustainability might be further integrated into your small business by investing in the future, which could include activities akin to exploring recycling routes, reducing energy consumption and supporting sustainable charities or causes. For example, investing in technology products with long battery life reduces energy consumption and electronic waste. Additionally, working with organizations akin to the Global Electronics Counsel, which promotes the purchase of sustainable technology, can have long-term advantages.
Adopting energy-efficient practices, participating in recycling programs, and supporting sustainable causes not only contributes to a positive corporate image, but also cultivates a sense of responsibility among employees and customers. By investing in the future, your small or medium-sized business can actively participate in developing a more sustainable technology industry.
World Environment Day is a great opportunity for small and medium-sized enterprises (SMEs) to reflect on how they will play a key role in shaping a more sustainable future for all. However, businesses should keep in mind that environmental awareness does not last just one day.
E-waste is a problem that won’t go away anytime soon and is a major environmental issue, so remembering to “reduce, reuse, repair” (and also recycle) can assist make the tech industry more environmentally friendly. Prioritizing sustainability isn’t just a trend; it’s a fundamental aspect of your small business that may attract the best talent, support higher financial decisions, and perhaps most significantly, have a positive impact on the planet.