NBS Venture brings to you 4 best practices to make your business promote better sustainability. We will also go over the most important questions to make you fully aware of driving Environmental Impact for your enterprise.

1- What is Sustainable technology & how it can fuel your business growth? 

Sustainable technology is defined as innovation that makes use of natural resources while also promoting economic and social growth.
It attempts to reduce risks to the environment and provide sustainable products.
It focuses on biodegradable materials, renewable resources, and efficient energy resources.
If you are a Sustainable enterprise, you will be prepared for the future. Companies that embrace sustainability demonstrate leadership in eliminating climate change and staying ahead of the carbon environmental pricing curve.
You will also meet consumer expectations while increasing productivity as well as lowering prices.

2- What are the benefits of transferring your business to a sustainable one?

Focusing on sustainability can attract more investors, customers, and employees. It is also ensuring a livable planet for future generations.
Despite the challenges, these opportunities present significant opportunities.
Here are the most important 4 benefits:
1- Customers’ Increasing Demand
Let me ask you a question first: “How much do you care about your customers?”
If you care so much, you have to know that consumers all over the world are increasingly using sustainable practices to determine their purchasing decisions.
Consumers increasingly regard themselves as climate change agents.
This increases the pressure on business and IT leaders to care about sustainability.
It’s enough for you to know that, according to the latest studies, around 34% are willing to pay more for environmentally friendly options.
2- Investors Increasing Interest
Investors are increasingly emphasizing “ESG”. ESG refers to Environmental, social, and governance investing. It is a set of standards for a company’s behavior used to assess possible investments by socially concerned investors.
Companies are under increasing pressure to improve their climate disclosure.
According to the latest study by the Global Institutional Investor Survey, over 74% of institutional investors claimed they were more likely to withdraw their investments from companies with poor environmental sustainability and ESG track records.
3- Competitive Advantage for your business
When performing a simple SWOT analysis, a company’s approach to sustainability should be classed as a strength and, ideally, an edge across competitors.
In some cases, when customers are considering their options, it may prove to be the determining factor in their final decision.
Some businesses claim to be “first to market” not because of their product or service, but because of how they have positioned themselves in the marketplace.
4- Emerging Markets and New business chances
Having long-lasting technical products or services in one market can lead to a reference to another market that is perfect for expansion. All of this translates into new sales for the organization.

To gain all these benefits, You have to start planning for a well crafted strategy to help you start as soon as possible. This brings us to the next question:

3- What are the best strategies to make your business promote better sustainability?

Businesses that want to embrace sustainability might use a variety of strategies.
The following is an overview of four different types of sustainable business practices that you may choose to adopt
1- Using the cloud
The digitization of information and shifting procedures to the cloud not only reduces paper waste, but it can also assist an organization in better safeguarding sensitive materials.
2- Distributing used laptops
Businesses should consider donating their used corporate laptops to poor youngsters (in a cyber-secure manner). Companies may reduce technological waste by safely recycling outdated laptops.
3- Choosing sustainable products
Businesses can select products and services with lower life cycle environmental footprints by taking into account aspects like energy usage, raw materials, and recyclability.
4- Integrating Enterprise Sustainability Software
Sustainability enterprise software assists firms in quantifying, understanding, and reducing e-waste in their value chains. This will allow them to develop waste-reduction efforts.

4- How can we predict the future of sustainable technology?

Climate change accounting and sustainability have become important challenges in every sector, including the technology industry.

Enterprises in the technology industry are increasingly being called upon to prepare operations. They aim to deliver solutions for a more sustainable future, stressing social responsibility, accountability, and process transparency.

The global sustainability market was worth approximately 13.76 billion US dollars in 2022.

It is estimated to reach around 62 billion US dollars by 2030, with a CAGR of 20.8% from 2023 to 2030.

Contact NBS Venture to join the sustainability movement!