What is sustainability within the business setting, and why is it important?
Sustainability:
The ability to be maintained at a certain rate or level.
The avoidance of the depletion of natural resources in order to maintain an ecological balance.
To be sustainable, a company needs to look at the long-term impacts on the environment, society, and the economy in addition to financial growth.
Thinking of the next generation while looking after this one.
Operating sustainably within the business setting requires a system-thinking approach by looking at the Triple Bottom Line (TBL)
Consumers are demanding that businesses are more open about sustainability in the products they make, use, and the services they offer.
At Fred Davies, as part of project ‘Eco-I North-West’, we carried out a survey regarding our sustainability with Liverpool John Moores University. As an outcome of this, we are in the process of working through the Business Analysis Recommendations, to enable us to become a more sustainable business.
The Environment
To reduce our environmental impact we have introduced the use of some electric forklift trucks, alongside our regularly maintained gas forklift trucks. Our Managing Director has decided to make the switch to an electric car, and we have replaced traditional lighting to LED and installed motion sensors lighting within the warehouse and office environment. Wherever possible un-required pallets are sent back to our supplier for recycling. We have also implemented the use of recycling bins for both plastic and cardboard.
The Society
We have also taken measures to elevate our social reputation. To do this we ensure safe working conditions within our business, two of our staff have undertaken IOSH (Institute of Occupational Safety and Health) training. We respect employee’s rights and pay a fair wage. We also encourage our staff to progress in the business by investing in their CPD.
The Economy
In aims to improve our economic impact, we have invested in a bespoke Warehouse Management System. We also took the decision in to install pallet racking in part of our Delta Road warehouse to maximise space utilisation. Our Board of Directors meet on a regular basis to discuss long-term planning.
Ultimately, sustainability within the business setting aims to create a balanced and harmonious relationship between profit, people, and planet. This is something we want to be a part of.