2Sustain

What is the state of sustainability in business today?

That’s a provocative question, and one that Deloitte explores in-depth in its new report, Sustainability in business today: A cross-industry view.

The 20-page report offers insights collected from phone interviews with sustainability leaders of 48 US companies with revenues of more than $1 billion across five major industry sectors: automotive, consumer products, process and industrial, technology and telecommunications.

And, as Deloitte concludes, the state of sustainability in business today is quite complex and still evolving. Clearly, large companies in the US continue to be interested and involved in sustainability. However, significant challenges remain as sustainability leaders work to align company practices with company principles and essentially, guiding their organizations to “walk the talk.” From the report: (more…)

Wal-Mart’s recent announcement to begin work on a universal Sustainable Product Index inspired Deloitte’s Enterprise Sustainability group to develop a new whitepaper that explores lifecycle assessment.

The paper, “Lifecycle Assessment: Where is it on your sustainability agenda?” points out that even though the concept of lifecycle assessment (LCA) has been around since the 1980s, it’s only now that U.S. companies are embracing it on a large scale.

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If I asked you to describe the typical person who buys green products, what adjectives would you use? Treehugger? Minimalist? “Granola”?

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A variety of factors are converging to make “green” a top business priority, even in this down economy.

For starters, cost-cutting is high on everyone’s agenda right now, and study after study has shown that sustainability initiatives can save money. Of course, “going green” can also save jobs and offer opportunities for innovation. Take a look at sustainable supply chains, for example. Sustainable supply chains that capture value-creation opportunities can provide considerable competitive advantage –they’re an excellent illustration of the direct correlation between sustainability, innovation, and profitability. Once you factor in other significant drivers, such as consumer demand, pending regulations, and concern about climate change and resource depletion, it’s easy to see why companies are embracing sustainability now, more than ever before.

Of course, anytime a company begins down a new path, the initial steps can seem a little daunting. After all, implementing a comprehensive sustainability plan is a complex process. There are bound to be questions and concerns, and naturally, everyone wants to avoid making mistakes.

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