Eco-Efficiency Creating More Value with Less Impact

Although there is no formal definition for the term, individuals have tried to define sustainability according to their function or area of study. The term “sustainability,” once an obscure ecological concept, has now been adopted by many in the business world to connote the principles of social and environmental responsibility (Joseph Fiksel, Jonathan Low and Jim Thomas). Further, sustainability can be seen through the eyes of business as a way to create value. More likely than not, the term sustainability can be linked to the ability of decreasing costs, wastes and inefficiencies. According to the vice president of General Electric,

Many firms are learning that being environmentally friendly and sustainable has numerous benefits. (O.C Ferrell, Fraedrich, Ferrell, 2015). This could enable them to increase goodwill from various stakeholders and also save money in the long term. This will mean that they are being more efficient and less wasteful of resources, which will enable them to be more competitive by satisfying stakeholders. The CEO of

Bertrand Piccard quotes, “In the 21st century, the heroes will be the people who will improve the quality of life, fight poverty and introduce more sustainability. This is a powerful message, it sums up the concepts discussed throughout the course. Additionally, the case studies such as the New Belgium Brewery, SC Johnson and The Kimberly Clarke organization have been proven to practice this philosophy. As society progresses in its efforts to provide a more sustainable future, there is a fundamental foundation of principles that must be followed to ensure success. Sustainable business development takes into account the application of business operations as it relates to the three pillars of sustainability, which is a dynamic yet integrative place to begin this journey. DesJardins, (2006) calls for a re-imagination of the future to create a vibrant sustainable model; which forms similar beliefs to Piccard. In addition, organizations are more inclined to create sustainable practices based on consumer demand and the willingness of leadership to participate in sustainability programs.

Efficiency is not always the answer. David Owen explains that society is headed in the wrong direction, believing that to be greener we need to make our everyday lives more efficient when in reality we need to change our behavior. We as consumers want to be sustainable and take care of the Earth we live on while ironically expanding our collection of trinkets. Everything we believe in being efficient and green is misrepresented and to save the Earth the truth needs to be heard.

The concept of eco-efficiency includes environmental impacts and costs as a factor in calculating business efficiency. The WBCSD considers the term eco-efficiency to describe the delivery of competitively priced goods and services that satisfy human needs and enhance the quality of life while progressively reducing ecological impacts and resource intensity throughout the products’ life cycles to a level commensurate with the earth’s estimated carrying capacity.

There are several obstacles for manufacturers attempting to employ changes in their processes for more sustainable practices. One problem that manufacturers will run into is the lack of direction. Knowing that change is needed is the easy part of reaching sustainability. Knowing what changes to make is a much more complicated challenge. The idea of sustainability is discussed often, yet broad scope ideas are traded without specific details and applications. Team B Consultants Inc. (TBCI), is the

The carmaker, which employs 15,000 people, including 3,500 engineers at two product development centres in the Midlands, is part of the EU ETS scheme and has signed up to a Climate Change Agreement. Head of sustainability Frances Leedham says One of my objectives is to make environment and sustainability part of doing business. It was unheard of a few years ago, but there is a clear incentive to decarbonise our economy and focus on renewable energy. Across our UK facilities we have set ambitious targets, and by 2012 we aim to reduce operating carbon emissions by 25 per cent, waste to landfill by 25 per cent and water consumption by 10 per cent. So crucial is the companys sustainability agenda to long-term business growth that a 9m fund has been set aside for investment in efficiency measures across the business, targeting areas where the biggest savings can be made. Jaguar Land Rovers paint shops, for example, have been identified as the largest consumer of energy in the whole manufacturing process. By sharing best practice between production sites, the company has implemented more than 50 initiatives-from optimising use of air compressors to closing parts of the paint shops when they are not being used. These measures have saved 13,200 tonnes of carbon emissions and more than 1.5m in energy costs over the past two years. But Leedham insists smaller schemes have a significant effect, too Things such as lighting, heating

The purpose of this paper is to compare the sustainability practices of two companies in the same industry. The two companies chosen for comparison are The Hershey Company and Coca-Cola Enterprises, both of which are in the consumer staples industry. These two corporations are ranked sixth and eighth, respectively, on the Newsweek Top Green Companies in the U.S 2015. They have taken pride in creating sustainable product designs, having environmentally sustainable processes and supply chain management.

Three general principles will guide the move towards sustainability. Firms and industries must become more efficient in using natural resources; they should model their entire production process on biological processes; and they should emphasize the production of services rather than products. Versions of the first principle, sometimes called eco- efficiency, have long been a part of the environmental movement. "Doing more with less" has

One point of view says that we should invest in the environment because it will increase our reputation among other things resulting in increased sales. Another point of view is to not invest in sustainability and since consumers gravitate towards the best products and the best prices, which a team could develop, then sustainability is just an unneeded expense. As a team we feel that there should a balance of both investing in sustainable business practices and turning a profit. This strategy can be seen when we turned a $4,600,257 profit in quarter six while investing in seven conscious

It covers the corporate sustainability performance of Costco Wholesale Corporation’s U.S. and Canadian operations for September 2007 through August 2008. Our environmental reporting is still evolving. We recognize the need to report more environmental metrics information in future reports. Charts and graphs and greenhouse gas emission reports in this report refer to calendar 2007 data for Costco’s U.S. and Canadian Operations, as we will publish this information on a calendar-year basis. Inside you will find many examples of Costco’s move toward becoming a sustainable business. We are taking actions across our entire business operations to improve our global stewardship. We are focused on the areas where we have the most impact, including energy efficiencies, environmentally friendly packaging, disposal of waste from our business operations and sustainable products. We are committed to using innovation and sensible environmental steps to grow our business and minimize our impact on the environment.

The inspirations behind sustainability are frequently unpredictable, individual and assorted. It is unlikely to make a rundown of reasons why such a large number of people, gatherings and groups are working towards this objective. However, for most people, sustainability comes down to the kind of future we are leaving for the next generation. Sustainability as a value is shared by numerous people and associations who exhibit this incentive in their policies, everyday exercises and

Today, there is much emphasis given towards sustainability in the corporate world. According to its IR, NAB is said to be using much less energy in its data centers giving priority to infrastructure which is energy efficient, with some of its hubs receiving certifications too (p.14). NAB is also spending a significant amount on energy efficiency initiatives with $15 million of costs avoided and 81,000 tonnes of greenhouse gas emissions being eliminated (p.26). Further the use of solar reflective roof paints and renewable energy (p.26) is an assurance that NAB is committed towards creating a sustainable environment with minimal impacts and preserving the environment for future generations.

When households, businesses and local governments implement resource efficiency improvements, they free up money for other purposes. It is the responding of this saved money that generates significant community economic advantages from resource efficiency. Think of the businesses and operations in your community. Imagine the environmental and economic results if grocery stores, office buildings, industries, schools, restaurants and public operations all curbed resource use by an easy 20%, and then went on to cut other operation costs through waste reduction, recycling and pollution

One positive implication capitalism has to the natural environment is industrial ecology, a system of chain production and consumption, serving to the lowest environmental impacts in a most environmentally sustainable economy as the main goal of operation (Richards & Pearson, 1998). The Companies in a like to operate in such way because of four major reasons. The most important factor is known as the corporate well-being, for it is determined by higher profits and growth provided by innovations in an industry. Profits are increased from recognizing the production ineffiency costs that comes from wasted inputs and energy losses; this allowing cost savings to increase and ineffiency to decrease. compliance with cleaner technology alternatives such as ones that produce less waste and less energy will provide long term savings which are both beneficial to the environment and the business at hand. A real world example freight company changes their salvaged driving equipment to hybrid vehicles. Money is temporarily lost, but the gasoline and maintenances cost savings will compensate in a long run period of time.