{"id":1837,"date":"2022-10-30T19:53:38","date_gmt":"2022-10-30T19:53:38","guid":{"rendered":"https:\/\/leyton.majjane.agency\/ca\/post\/the-easiest-way-to-become-a-sustainable-business\/"},"modified":"2022-10-30T19:53:38","modified_gmt":"2022-10-30T19:53:38","slug":"the-easiest-way-to-become-a-sustainable-business","status":"publish","type":"article","link":"https:\/\/leyton.com\/ca\/en\/insights\/articles\/the-easiest-way-to-become-a-sustainable-business\/","title":{"rendered":"The Easiest Way to Become a Sustainable Business"},"content":{"rendered":"<p>As a business leader, you want your company to grow; but is it possible to grow your business sustainably?&nbsp; A <strong>sustainable business<\/strong> performs its business operations without negatively impacting the environment, community, or society as a whole. To successfully achieve <strong>sustainable business<\/strong> status, businesses require <strong>sustainable innovations<\/strong> that strategically reduce the negative environmental impact related to their business operations, which begs the question, <strong>can innovation and sustainability co-exist?<\/strong>&nbsp;<\/p>\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<p><strong>Innovation vs. Sustainability&nbsp;<\/strong><\/p>\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<p>We&#8217;re used to thinking of <strong>innovation <\/strong>and <strong><a href=\"https:\/\/leyton.com\/ca\/en\/sustainability-invest-in-your-clean-technology-projects\/\" target=\"_blank\" rel=\"noreferrer noopener\">sustainability <\/a><\/strong>as being in conflict: some believe that we need to invest in sustainable practices, while others adopt the \u201cwhatever it takes at all costs\u201d mentality. By definition, <strong>innovation <\/strong>refers to bringing new and\/or improved versions of products or processes to market. Overall, a positive perception follows innovation, generating an ongoing high market demand for <strong>innovation<\/strong>. Nonetheless, businesses face difficulty when it comes to meeting these demands resulting in <strong>unsustainable business practices.<\/strong>&nbsp;<\/p>\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<p><strong>Unsustainable Business Practices<\/strong><\/p>\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<p>When we think of <strong>unsustainability<\/strong>, what may come to mind is packaging designed for landfills. However, <strong>unsustainability<\/strong> takes many shapes and forms in businesses. Three categories can describe <strong>unsustainable business practices: technical, organizational, and social.&nbsp;<\/strong><\/p>\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<p>Some examples include &nbsp;(Ritala et al. (2018) and Bocken et al. (2014)):<\/p>\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<ul>\n<li><strong>Technical<\/strong>: Use of fossil fuels, high waste and emission production, unused production of by-products, and use of polluting processes&nbsp;<\/li>\n<li><strong>Organizational:<\/strong> Disconnecting consumers from production and consumption impact, businesses operating solely for economic profit, and<strong> <span style=\"text-decoration: underline\">ignoring concepts that may attract funding<\/span><\/strong><\/li>\n<li><strong>Social<\/strong>: Poor asset utilization, businesses built on exploitation, single-use products, excessive packaging, and advertising activities that promote unnecessary use and overconsumption.<\/li>\n<\/ul>\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/leyton.com\/ca\/wp-content\/blogs.dir\/3\/files\/2022\/10\/Sustainable-biz.png\" alt=\"Sustainable Business\" class=\"wp-image-18479\" \/><\/figure>\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<p><strong>Sustainable Business Practices<\/strong><\/p>\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<p>As mentioned above, the concept of <strong><a href=\"https:\/\/leyton.com\/ca\/en\/sustainability-invest-in-your-clean-technology-projects\/\" target=\"_blank\" rel=\"noreferrer noopener\">sustainability <\/a><\/strong>presents differently depending on your business. <strong><a href=\"https:\/\/leyton.com\/ca\/en\/sustainability-invest-in-your-clean-technology-projects\/\" target=\"_blank\" rel=\"noreferrer noopener\">Sustainable businesses<\/a><\/strong> utilize strategies that align with their organizational goals and values. Within their strategy, actions per category may include:<\/p>\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<ul>\n<li><strong>Technical:<\/strong> Maximizing materials and energy efficiency, substitute with sustainable materials and processes, and closing resource loops.<\/li>\n<li><strong>Organizational:<\/strong> Connect consumers with production impacts, sponsoring education that benefits the community, and <strong><span style=\"text-decoration: underline\">adopting concepts that attract funding<\/span><\/strong>.&nbsp;<\/li>\n<li><strong>Social<\/strong>: Transparent environmental impact reporting, improve functionality of single-use products, and eliminating excessive packaging.&nbsp;<\/li>\n<\/ul>\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<p><strong>Benefits of a Sustainable Business<\/strong><\/p>\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<p><strong><em>Sustainability is an economic advantage as well as an ethical one<\/em><\/strong>. Although, you might assume that the only benefit of converting to sustainable practices is directly environmental, sustainable business models may:&nbsp;<\/p>\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<ol>\n<li><strong>Attract more customers &amp; Increased R.O.I :<\/strong> A recent report revealed that <strong>85%<\/strong> of consumers\u2019 purchasing has become \u201c<strong>greener<\/strong>\u201d. The study revealed that <strong><a href=\"https:\/\/leyton.com\/ca\/en\/sustainability-invest-in-your-clean-technology-projects\/\" target=\"_blank\" rel=\"noreferrer noopener\">sustainability <\/a><\/strong>is becoming increasingly important in influencing purchasing decisions across a variety of demographics. Researchers correlated this shift to a wide-spreading internal belief that consumers can generate positive environmental impact through their purchasing. Not only are more consumers than ever before choosing sustainable products, but they are also willing to pay more for this feature.&nbsp;<\/li>\n<\/ol>\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<ol start=\"2\">\n<li><strong>Attracting &amp; Retaining talent: <\/strong>A recent trend reported in the 2021 Deloitte report illustrated that Millennials and Gen Z populations hold businesses accountable for their environmental impact, and activism or lack thereof. More importantly, <strong>almost half <\/strong>of both Millennials and Gen Z participants stated that a businesses\u2019 environmental activism has influenced their decision on employment. Additionally, green initiatives have shown to restore employees\u2019 interest whilst working with the company.&nbsp;<\/li>\n<\/ol>\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<ol start=\"3\">\n<li><strong>Reduced Costs &amp; Increased Funding: <\/strong>Unsustainable and wasteful business models go hand-in-hand with additional costs. Companies that have adopted green business models have reported <strong>millions of dollars<\/strong> in savings with modest adjustments. Moreover, <span style=\"text-decoration: underline\"><strong>sustainability is a magnet for<\/strong> <strong>investors<\/strong><\/span>. Investors today are turning to the <strong>environmental, social, and governance metrics<\/strong> (<strong>ESG<\/strong>) to determine which companies to invest in. The ESG metric provides a rating based on many aspects of <strong><a href=\"https:\/\/leyton.com\/ca\/en\/sustainability-invest-in-your-clean-technology-projects\/\" target=\"_blank\" rel=\"noreferrer noopener\">sustainability <\/a><\/strong>including a company\u2019s carbon footprint, waste production, and community development efforts to name a few. According to research by Sheila Bonini and Steven Swartz, investors are more likely to invest in companies with a <strong>good ESG rating<\/strong> as there is less risk attached.<\/li>\n<\/ol>\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<p><strong>Getting You Started on Your Transition to a Sustainable Business<\/strong><\/p>\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<p>As mentioned above, <strong><a href=\"https:\/\/leyton.com\/ca\/en\/sustainability-invest-in-your-clean-technology-projects\/\" target=\"_blank\" rel=\"noreferrer noopener\">sustainability <\/a><\/strong>looks different for everyone. To transition to a <strong><a href=\"https:\/\/leyton.com\/ca\/en\/sustainability-invest-in-your-clean-technology-projects\/\" target=\"_blank\" rel=\"noreferrer noopener\">sustainable business<\/a><\/strong> you\u2019ll need to create a <strong><a href=\"https:\/\/leyton.com\/ca\/en\/sustainability-invest-in-your-clean-technology-projects\/\" target=\"_blank\" rel=\"noreferrer noopener\">sustainable business strategy<\/a><\/strong>. Depending on where you are on your business journey, you may not be able to commit to making grand changes to your business model, which is why we present to you, an <strong>easy and low-risk green initiative<\/strong> that can result in high reward: <span style=\"text-decoration: underline\"><strong>acknowledging all the practices and or concepts that may attract funding<\/strong>. <\/span><\/p>\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<p>If one or two things popped into your mind immediately, you are well on your way to begin your transition! Our experts at <strong>Leyton <\/strong>have the expertise to guide you in your <a href=\"https:\/\/leyton.com\/ca\/en\/sustainability-invest-in-your-clean-technology-projects\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>sustainability transition<\/strong> <\/a>and discuss your eligibility for the many <strong>funding <\/strong>programs available. From government grants to tax credits, your business is able to transition with minimal disruption and sufficient cash flow! Speak to one of our <strong><a href=\"https:\/\/leyton.com\/ca\/en\/contact-us\/\" target=\"_blank\" rel=\"noreferrer noopener\">experts <\/a><\/strong>today to get started!<\/p>\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<div class=\"wp-block-buttons\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/leyton.com\/ca\/en\/contact-us\/\" target=\"_blank\" rel=\"noreferrer noopener\">Contact Us<\/a><\/div>\n<\/div>\n<div style=\"height:105px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<p>Sources:<\/p>\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<ul>\n<li><a href=\"https:\/\/online.hbs.edu\/blog\/post\/what-is-sustainability-in-business\">https:\/\/online.hbs.edu\/blog\/post\/what-is-sustainability-in-business<\/a><\/li>\n<li><a href=\"https:\/\/www.ibm.com\/topics\/business-sustainability\">https:\/\/www.ibm.com\/topics\/business-sustainability<\/a><\/li>\n<li><a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0959652621020461\">https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0959652621020461<\/a><\/li>\n<li><a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0959652621020461#bib77\">https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0959652621020461#bib77<\/a><\/li>\n<li><a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0959652621020461#bib14\">https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0959652621020461#bib14<\/a><\/li>\n<li><a href=\"https:\/\/www2.deloitte.com\/me\/en\/pages\/about-deloitte\/articles\/in-its-10th-year-the-deloitte-global-millennial-and-gen-z-survey-reveals-two-generations-pushing-for-social-change-and-accountability.html\">https:\/\/www2.deloitte.com\/me\/en\/pages\/about-deloitte\/articles\/in-its-10th-year-the-deloitte-global-millennial-and-gen-z-survey-reveals-two-generations-pushing-for-social-change-and-accountability.html<\/a><\/li>\n<li><a href=\"https:\/\/www.businesswire.com\/news\/home\/20211014005090\/en\/Recent-Study-Reveals-More-Than-a-Third-of-Global-Consumers-Are-Willing-to-Pay-More-for-Sustainability-as-Demand-Grows-for-Environmentally-Friendly-Alternatives\">https:\/\/www.businesswire.com\/news\/home\/20211014005090\/en\/Recent-Study-Reveals-More-Than-a-Third-of-Global-Consumers-Are-Willing-to-Pay-More-for-Sustainability-as-Demand-Grows-for-Environmentally-Friendly-Alternatives<\/a><\/li>\n<li><a href=\"https:\/\/www.mckinsey.com\/~\/media\/McKinsey\/Business%20Functions\/Sustainability\/Our%20Insights\/Profits%20with%20purpose\/Profits%20with%20Purpose.ashx\">https:\/\/www.mckinsey.com\/~\/media\/McKinsey\/Business%20Functions\/Sustainability\/Our%20Insights\/Profits%20with%20purpose\/Profits%20with%20Purpose.ashx<\/a><\/li>\n<li><a href=\"https:\/\/www.fool.com\/investing\/stock-market\/types-of-stocks\/esg-investing\/esg-rating\/#:~:text=MSCI%20translates%20the%20numerical%20score,laggard%2C%20average%2C%20and%20leader.\">https:\/\/www.fool.com\/investing\/stock-market\/types-of-stocks\/esg-investing\/esg-rating\/#:~:text=MSCI%20translates%20the%20numerical%20score,laggard%2C%20average%2C%20and%20leader.<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>As a business leader, you want your company to grow; but is it possible to grow your business sustainably?&nbsp; A sustainable business performs its business operations without negatively impacting the environment, community, or society as a whole. To successfully achieve sustainable business status, businesses require sustainable innovations that strategically reduce the negative environmental impact related [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2521,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[222,537,124,111],"tags":[232,114,557],"expertise":[],"class_list":["post-1837","article","type-article","status-publish","format-standard","has-post-thumbnail","hentry","category-grants","category-innovation-en","category-sustainability","category-tax-credit","tag-funding","tag-innovation-en","tag-sustainability"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.1 (Yoast SEO v28.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The Easiest Way to Become a Sustainable Business - Leyton Canada<\/title>\n<meta name=\"description\" content=\"Want to grow your business sustainably? 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