64% of Businesses Have No Environmental Policy

A recent survey conducted by Suez in collaboration with the British Chambers of Commerce has found that 64% of businesses lack a ‘’environmental sustainability policy’’.

This number directly contradicts the current buyer behaviour, with US-based company Deloitte discovering that 32% of consumers are actively engaged in adopting a more sustainable lifestyle – and a further 28% have stopped buying certain products due to environmental concerns. Most of the sustainable shoppers are Millennials or Gen-Z, meaning that soon they will make up the vast majority of the buying market. Deloitte noted this inevitable change, and further concluded that ‘’as wealth transfers to younger generations, sustainability, and ethical considerations will need to become the standard.’’

Upon seeing the results of the initial survey Shevaun Haviland, director-general of the BBC, expressed that “this research shines a light on the mismatch between the clear understanding among UK businesses of what benefits can flow from environmental and social value policies and the reality of how many actually have these in place’’ - concluding that ‘’the consequences firms will face if they fail to adapt for the future cannot be ignored.’’

It is unclear the reasoning behind the lack of interest in creating sustainable policies however, Suez CEO John Scanlon suggested that “businesses are looking to Government for a supportive regulatory framework that will help accelerate a green recovery and promote business growth that not only benefits our economy and jobs, but that also enriches local communities and protects the environment.’’

It appears that there is a correlation between the perceived cost of becoming a more sustainable business and the businesses choosing not to prioritise policies that align with the sustainable message, looking to the government for funding, framework, and incentives to aid in the transition.

However, engaging in sustainable business practices doesn’t have to be the expense it is perceived to be. With sustainable programmes such as Cisco Refresh's remanufacturing scheme taking a lead in the supply chain, businesses can operate sustainably whilst also increasing profit margins.

The sustainability crisis is one that cannot be ignored, and the current lack of government support shouldn’t dissuade organisations from starting their sustainable journey. A few small sustainable choices can create a worldwide change. John Scanlon shared this sentiment by concluding ''there is no long-term future for business if short-term profit is chased at the expense of long-term environmental and social value policy planning.''