In business, sustainability creates credibility and loyalty for your customers and contributes to international climate change initiatives.
Looking to a long-term future, it's important to consider creating a culture of sustainability throughout New Zealand industries.
The adoption of sustainable environmental practices is an essential element in today’s corporate best practice and increasingly an expectation in consumers’ minds. Other external factors influencing businesses to act on climate change include a growing demand from institutional investors and shareholders.
Robert Perry, Sustainable Leadership Manager of New Zealand’s Sustainable Business Council says: “The business case for sustainability is clear. Companies that build sustainability into their business strategy perform better through reduced costs, lower risk, enhanced trust and lasting business growth. Sustainability can be your competitive advantage, with investors, communities and staff.”
Studies indicate that if we are to have any chance of keeping global average temperature increases below our 2°C target, we have to leave the majority, (up to 80 %), of our fossil fuels in the ground. Typically coal produces the most CO2 per unit of energy and is often termed the most polluting of the fossil fuels. Its true cost is much greater if social costs are factored in. These include health, climate and environmental problems that are linked to emissions. As such, the continued use of coal in industrial processes is emerging as a sustainability risk that can affect company reputation.
The Sustainable Business Council noted that leading New Zealand businesses are moving away from short-term, incremental reduction targets, towards long-term goals.
The Productivity Commission’s Low Emissions Economy report found that natural gas and coal account for 84% of process heat emissions. The adoption of wood fuel instead would provide multi-faceted business branding and reputational benefits to companies in this era of sustainability awareness.