Putting sustainability before profit – is it bad for business?

In 2014, The Guardian released an article titled, “Let’s be honest: real sustainability may not make business sense”. Looking at the title in 2019, knowing how important things like sustainability or ESG are to businesses, it’s funny to see such an opinion. However, the article contained some interesting points.

Despite the pessimistic title, The Guardian’s article wasn’t simply a way to tell businesses not to bother with sustainability. Rather, it suggested sustainability should be led by considerations such as ‘what do you really care about’ and ‘who do you serve’ instead of driven by profit.

These ideas have firmly seeped into the way more businesses are operating today. To be successful, they need a purpose, and they need to care about something larger than themselves. Not just because we don’t have a choice anymore, but because human values are finally changing. 

The inconvenience of sustainability

Despite more businesses seeking to become more environmentally, socially, and economically sustainable, the pursuit can be inconvenient. Our whole lives are designed to the smallest detail to operate in a world ruled by fossil fuels, surrounded in concrete, and built for mass consumption without a second thought to waste. 

Because of this centuries-long investment in unsustainability, it’s cheaper to work within the existing system. Changing to a new green system screams expensive. Previously, this would have made the most business sense because minimising your costs meant maximising your profits. 

Not anymore. 

Sustainability equals profit

While The Guardian would have all businesses forget about profit completely and instead think about their goals, dreams, and desires, most businesses can’t afford to do this. People have families to take care of. But as the strain on our environment intensifies, becoming more sustainable is making for more profitable companies in a multitude of ways. For example:

Making a business more sustainable is no longer a choice between the environment or your profits. We have reached a point where climate scientists have told the world there is no choice anymore. We must become sustainable or risk climate catastrophe.

Luckily, with new technology and a growing, supportive, green customer base, you can be both a profitable business and a sustainable one. 

Impact will show you exactly how sustainable your business is using real-time data insights into your social, environmental, and economic sustainability. You’ll be able to see exactly how greener decisions help you build a stronger business.