Environmental and social governance (ESG) and sustainability have quickly transitioned from “nice-to-haves” to essential components of creating long-term, measurable business value.
Sustainable Supply Chains
When considering sustainability in the supply chain, the first concepts that typically come to mind are solutions like green warehouse space or fuel-efficient trucks.
Sustainability in the supply chain extends much further than that. In retail, for instance, the clothing and fashion industry have the opportunity to progress through building a more sustainable approach.
The current clothing retail climate is somewhat dominated by fast fashion, a practice of mass-producing clothing items cheaply, so they can be sold in the most cost-effective way possible.
In 2020, you can bet your bottom dollar that consumers won’t be spending theirs on your products if you aren’t striving to operate sustainably.
For years, naysayers have argued that the consumers who say they want sustainable products aren’t actually willing to part with the extra cash to acquire them, opting for fast-fashion and plastic packaging over higher price points. Recent research proves this is simply not the case.
Carbon footprint reduction is a major focus of the beverage industry. The major challenge for this industry is to reduce the carbon footprint while still increasing production in this growing sector. In July 2015, Coca-Cola and PepsiCo, along with more than a dozen US companies pledged to invest more than $140 billion in efforts to cut carbon emissions as part of Obama’s climate change initiative. These two companies are multinational conglomerates and the global leaders in the consumer beverage industry.