Why Businesses should Embrace Business Sustainability?

August 20, 2022

Why Businesses should Embrace Business Sustainability?

What is the Green Economy?

The Green Economy is “low-carbon, resource-efficient and socially inclusive,” as defined by United Nations Environment Programme (UNEP). A green economy aims towards sustainable development while avoiding environmental degradation. 

The term was coined in 1989 in the report “Blueprint for a Green Economy” and saw a resurgence in 2008, when policy discussions took place in response to the various global crises during that time.

What is Business Sustainability?

For businesses, it means to pursue growth while taking care of the environment and utilising the limited resources available efficiently and sustainably, while avoiding negative impacts on the environment, community, and society.

Why Businesses should embrace Business Sustainability:

Due to growing concerns about environmental challenges such as climate change, businesses are expected to meet the expectations of various stakeholders: consumers and investors, the community, society, and the environment. Here are the advantages business sustainability can bring to businesses:


1. Better brand image

The Global Sustainability Study 2021, a study with more than 10,000 respondents from 17 countries, revealed an 85% shift in purchase behaviour towards sustainability in the past five years. By being sustainable, businesses can tap into a market of ethical and environmentally conscious consumers by aligning themselves with consumer values, connecting with them and thus enhancing brand perception.

However, authenticity is also important: besides ensuring ethical practices, businesses should take care in communicating their sustainability commitments to a discerning audience.


2. Employee engagement and retention

Sustainability is becoming more important to today’s employees. According to the HP Workforce Sustainability Survey, 56% of office workers believe sustainability to be as important as diversity and inclusion at the workplace, and 61% agree that sustainability to be essential to businesses instead of a “nice-to-have”. When done well, businesses can attract employees, and keep them engaged and motivated. Besides improving a business’s productivity, employees feel safer and are more likely to loyal advocates of the company.

On the other hand, a questionable track record in business sustainability hurts employee engagement and retention. 39% of office workers would leave a company for poor sustainability practices and leave negative reviews.


3. Increased productivity, reduced costs

Being sustainable increases resource efficiency and in turn, reduces operating costs. A McKinsey study has found that cutting resource costs can boost operating profits by up to 60%. For instance, 3M managed to save $2.2 billion since launching its “pollution prevention pays” (3P) programme in 1975. This was done by reformulating products,

improving manufacturing processes, redesigning equipment, and recycling and reusing waste from production.


4. Investment attractiveness

Adopting business sustainability makes companies attractive to investors, broadening their investor base. Investors are more likely to invest in companies that retain talent, reduce turnover, and demonstrate sustainable and long-term growth.

The Graduate Diploma in Business Sustainability & Environment Social and Governance (ESG)  is a rigorous business programme in Singapore that was created after seeing a growing expectation by the government and consumers that the role of business should be beyond the pursuit of profits. Increasingly companies need to be answering the expectations of stakeholders—consumers and investors, the community, society, and the environment on their efforts in business sustainability. To be a change catalyst, you will need to understand what needs to change and how to bridge the sustainability gap.


Who will benefit from the programme?

The programme is ideal for working professionals who are keen to learn about the fast-evolving area of sustainability, so as to sharpen the saw and explore new possibilities.

Upon completion of the programme, you can progress to our suite of Masters degrees in Business. Learn more today here


Career Opportunities 

Jobs in the environmental, social, and governance (ESG) sector in Singapore increased 257% in the last three years between April 2019 and April 2022 as climate change becomes part of the agenda by companies and businesses (Indeed Singapore).

In a statement, global job portal Indeed said the most significant jump in demand occurred between April 2021 and April 2022, with job postings increasing 95%, compared to the 75% increase in the previous year. The rise in job offers partially coincided with the launch of Singapore’s Green Plan in February 2021, which outlines the initiatives to make the economy more environmentally friendly, invest in green energy, and grow the number of green jobs.

Exciting career opportunities include:

Join over 3,000 Successful graduates. 

Embark on your learning journey with us today, find out more at www.aventis.edu.sg Save on Programme fees with referral and enjoy up to $1,000* savings when you invite your colleagues to join you

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