May 06, 2014 - Blogs
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We reached a new normal of increased awareness of the true value of natural resources—whatever their physical price. It’s fair to say, green concerns have an impact on the purchasing decisions of almost all consumers from the “casual green"—who purchase private-label green products and place sustainability behind convenience or price or quality—to deep green consumers, who demand every aspect of a product is unquestionably green.
Euromonitor International believes regulatory and consumer demands for sustainable goods and services will continue to intensify pressures on businesses, and, as a result, sustainability must be embedded into every aspect of the supply chain from suppliers through to transport and disposal. Coupled with growing demand and competition for natural resources globally and government demands for sustainability, this makes resource management a priority for all companies whatever their sector.
A lack of awareness of sustainability issues or a lack of engagement brings real risks to businesses. The public perception of a brand or a company as a while can be damaged if the business is exposed as using unsustainable sources of materials or damaging ecosystems or habitats. In today’s increasingly connected world, previous local disputes can swiftly become global.
Therefore, working to incorporate sustainability into all aspects of the business should be a key aim. This might sound costly, but it doesn’t have to be expensive and the best measures can actually save money. Working to improve resource efficiency is perhaps the first step a company should take. Important questions to consider include: As a business, can we save energy? Reduce water consumption" Use fewer raw materials? Encourage suppliers to meet similar sustainability standards? The answer to at least some of these is likely yes.
For a closer look at sustainability and the food industry, download Food Product Design’s Boardroom Journal: “Sustainability’s Impact on the Global Food Supply Chain."
Euromonitor International believes regulatory and consumer demands for sustainable goods and services will continue to intensify pressures on businesses, and, as a result, sustainability must be embedded into every aspect of the supply chain from suppliers through to transport and disposal. Coupled with growing demand and competition for natural resources globally and government demands for sustainability, this makes resource management a priority for all companies whatever their sector.
A lack of awareness of sustainability issues or a lack of engagement brings real risks to businesses. The public perception of a brand or a company as a while can be damaged if the business is exposed as using unsustainable sources of materials or damaging ecosystems or habitats. In today’s increasingly connected world, previous local disputes can swiftly become global.
Therefore, working to incorporate sustainability into all aspects of the business should be a key aim. This might sound costly, but it doesn’t have to be expensive and the best measures can actually save money. Working to improve resource efficiency is perhaps the first step a company should take. Important questions to consider include: As a business, can we save energy? Reduce water consumption" Use fewer raw materials? Encourage suppliers to meet similar sustainability standards? The answer to at least some of these is likely yes.
For a closer look at sustainability and the food industry, download Food Product Design’s Boardroom Journal: “Sustainability’s Impact on the Global Food Supply Chain."
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