5 Trends in Sustainability Every Entrepreneur Should Know

Sustainability is no longer an idea or merely a business aspiration. It has become a must in businesses.

If you are looking to start a new business or to revamp and upgrade your already established company, adopting sustainable practices is now a business imperative. Across the world, there are many countries where their governments are yet to adopt green initiatives successfully and commit to creating a healthier environment. But even with such challenges, more and more businesses are dedicated to improving their business activities and operations, implementing eco-friendly strategies.

In recent years, the urgency for sustainable practices and greener habits has been acknowledged much more, given how many companies are shifting their strategies and rewriting their mission statements in order to significantly reduce the negative impact they may have on the environment. Unfortunately, more work needs to be done. But luckily, efforts are being made, and today’s entrepreneurs are more dedicated than ever to focusing on environmental, social and corporate governance, with the socio-environmental aspect taking precedence.

So, if you have a business or have started the process of opening a business, it is of the utmost importance to take into consideration the latest trends in sustainability. Adopting old and new green initiatives is how you lay the foundation of a sustainable business and embed this in your company’s culture. 

From being committed to recycling properly to utilizing renewable energy resources, there is more than one thing you can do to help the environment and create a truly sustainable business. With thorough research and a forward-thinking attitude that encourages innovation and realizes the importance of sustainability, you can accomplish this.

This being said, here are the latest trends in sustainability that every entrepreneur should know in 2022:

1/ The newest trend is that sustainability is no longer a trend.

You’ve read it correctly. What used to be merely a trend, and it used to be a rare thing to have – or read about – a sustainable business, it has now become the “new normal”. This is undoubtedly a good thing. The fact that sustainability has become a business imperative and an increasing number of consumers want to adopt eco-friendly habits has encouraged more companies and businesses to adopt and implement greener initiatives and strategies. 

So, looking ahead in 2022 and beyond, it can be safely assumed that sustainability is no longer a trend. Still, the new normal that won’t be changed anytime soon, or perhaps – hopefully – never. The World Wildlife Fund commissioned a 2021 analysis and global research on sustainability conducted by the Economist Intelligence Unit. This analysis revealed that internet searches containing sustainable products and goods had seen a 71% increase. This shows the growing number of people focusing more on changing their habits and adopting a more sustainable approach.  

2/ Focus your investments on Environmental, Social and Governance.

So, what does Environmental, Social and Governance, or shortly put, ESG mean? This is a beneficial approach for a business given that it ensures constant evaluation of the long-term impact businesses has on the environment. The rise of ESG and the reason why companies are focusing more on this is also a direct response to the pandemic, which has caused many to see the differences certain sustainable practices can make.

This rising trend undoubtedly pushes businesses to the next level, elevating their business models and incorporating more eco-friendly initiatives and strategies. At the same time, it can be noticed that a business can be profitable while at the same time it reduces its negative impact on the environment and takes part in making the world a better place. This used to be a dilemma and a heavily discussed subject. However, with ESG as a framework, companies have the support they need to become sustainable.

3/ Renewable energy is the best and most cost-effective option.

Greenhouse gas emissions generated from fossil fuels contribute significantly to air pollution. For this simple reason, it is of the utmost importance and urgency to replace damaging energy resources with renewable energy resources. 

Apart from the fact that renewable energy is the healthy option that the earth needs, given that it no longer pollutes the air or water, this is also the most cost-effective option. For businesses, this represents a significant incentive, given that it is understandable they have to watch their budget constantly and make sure they can cover all expenses.

So, why not save money if possible? With renewable energy resources, which are more affordable, you can do so. Whether you choose solar or wind energy, it is up to you and depends on the type of business you have. The International Renewable Energy Agency released a 2021 report stating that renewables are the most economical option compared to the most inexpensive fossil fuel resource option. So, renewable energy is definitely a trend that will continue to be popular.

4/ Businesses use well-established recycling businesses.

Unfortunately, waste is incredibly difficult to reduce and eliminate entirely. While sustainable activities and eco-friendly initiatives are highly recommended and are used more and more, there is no doubt that waste management still remains a challenge. 

However, the good news is that recycling has taken a whole different level. More businesses are hiring well-established and professional recycling businesses that can handle waste correctly by utilizing professional ballers and compactors. If you want to considerably reduce the waste your business produces, you should definitely consider using Miltek balers, for example. They come in various sizes to fit the different needs businesses can have. This is an effective solution to minimize waste within your company. 

As an entrepreneur, you should definitely look into this and consider implementing a well-established recycling program with the support of green companies that specialize in recycling and reducing waste.

5/ Not only is transparency recommended, but it is a must.

When sustainability used to be a trend, it wasn’t uncommon for certain businesses to admit to implementing eco-friendly practices when this wasn’t actually true. For this reason, transparency has become more than a recommendation; it has become a must for businesses that promise sustainable goals. It may be a 2022 trend, but this is undoubtedly here to stay. 

For this reason, it is of the utmost importance to be transparent about sustainable goals within your business. Implementing a new business model that is based on a circular economy model is the first step towards becoming a genuinely environmentally-friendly business. The next is being transparent about your accomplishment, future plans and the business’ objectives.