{"id":1843,"date":"2022-11-07T16:00:56","date_gmt":"2022-11-07T16:00:56","guid":{"rendered":"https:\/\/leyton.majjane.agency\/ca\/post\/step-by-step-how-to-become-a-sustainable-innovative-and-profitable-business\/"},"modified":"2022-11-07T16:00:56","modified_gmt":"2022-11-07T16:00:56","slug":"step-by-step-how-to-become-a-sustainable-innovative-and-profitable-business","status":"publish","type":"article","link":"https:\/\/leyton.com\/ca\/en\/insights\/articles\/step-by-step-how-to-become-a-sustainable-innovative-and-profitable-business\/","title":{"rendered":"Step by step: how to become a sustainable, innovative, and profitable business"},"content":{"rendered":"

In part 1<\/a>, we discussed how sustainable businesses<\/strong> are profitable businesses. Aside from increased profits, sustainable businesses gain a competitive edge and attract more consumers and candidates, all while making a positive impact. In part 2, we touch upon the easy way to get started on your transition to becoming a sustainable business<\/strong>. <\/p>\n

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The NBS\u2019 three axioms previously mentioned are the contraction of steps a company eager to bring change can take: <\/strong><\/p>\n

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Sustainable innovation<\/a><\/strong> does not require state-of-the-art science or techniques. It can take the form of very simple modifications. This is the \u201cdo the same thing better<\/strong>\u201d axiom, sometimes called the \u201ceco-efficiency\u201d approach. This approach aims at reducing day-to-day activities\u2019 negative impact on the environment and society.  <\/p>\n

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Some examples are: consuming less energy for the same or a better productivity rate, less printing, less food waste, and reducing non-recyclable packaging. Plastic packaging contributes almost USD 40 billion worth of greenhouse gas emissions and other environmental damage every year, considering sustainable packaging will greatly improve supply chain cost savings. <\/p>\n

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Energy efficiency<\/strong> is also a valuable example of how to \u201cdo the same thing better<\/strong>.\u201d US-certified energy-efficient buildings consume, on average, 35% less energy<\/strong> than similar buildings. This represents substantial green savings<\/strong> that can be invested in other departments later to keep on lowering greenhouse gas emissions to our atmosphere while supporting the business\u2019s growth. <\/p>\n

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Below is a list of projects funded by the Decarbonization Incentive Program<\/a> that supports companies attain incremental GHG reductions by doing \u201cthe same thing better\u201d <\/p>\n

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Category <\/td>\nActivity <\/td>\n<\/tr>\n
Energy efficiency <\/td>\nStationary equipment retrofits for energy efficiency <\/td>\n<\/tr>\n
Fuel switching <\/td>\nStationary equipment retrofits for fuel switching <\/td>\n<\/tr>\n
Energy production <\/td>\nCogeneration or combined heat & power production <\/td>\n<\/tr>\n
Non-energy related <\/td>\nIndustrial product use changes (e.g., refrigerants) <\/td>\n<\/tr>\n
Carbon capture <\/td>\nCarbon capture & storage <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n
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For the second axiom, the focus is set on pure innovation: \u201cDoing good by doing new things<\/strong>\u201d. The word innovation refers to the introduction onto the market of a new or significantly improved product or process compared to those previously developed. Two types of innovation are to be distinguished: product innovations (goods or services) and process innovations (including organizational and marketing innovations). This classic definition of innovation covers the second part of the second step: \u201cby doing new things<\/strong>\u201d. Leaving us with the question: What does \u201cdoing good\u201d mean? If the first step attempt to reduce its impact, this second step seeks to completely transform its activities. Thus, the objective is not only to be careful but to proactively adopt sustainable innovation<\/strong> as a business opportunity. The company identifies and acts as a servant of societal and environmental needs while generating profits and engaging in the continuous flow of sustainable innovation where everything remains to be done. <\/p>\n

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The final axiom of this process is to \u201cdo good by doing new things with others<\/strong>\u201d. This last statement is only possible when a company fully acknowledges its role and the limit of independent and separate actions to tackle climate change. From this statement, a company will join, support, or create its own network to provide and participate in the creation of a global environment where sustainable innovation<\/strong> can thrive. Collaboration with other stakeholders will foster innovation from basic research (the risk) to commercialization (the benefit). This collaboration will provide creative minds with the training, resources, and funding necessary to protect the planet as well as the economic development of the companies and institutes involved. <\/p>\n

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Each company has its own audience, its own pace, and processes. These three axioms can be understood as three steps, which can be done separately or at the same time. A company might ban plastic straws on-site while seeking to enter the NBS<\/a> or the GEC<\/a> while another company will only have the resources to focus on the development of environmental training for their employees. Those changes, if not willingly undertaken now can and will most likely be provoked by increasing sanctions over the coming years: <\/p>\n

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