Sustainability is everyone’s business

In an October 2018 report, the UN Intergovernmental Panel on Climate Change warned that if greenhouse gas emissions were not cut significantly by 2030, there is a risk of losing 99 percent of corals, and suffering more heat waves, droughts and floods.

The impact of this will be felt by individuals and businesses alike as supply chains across the world suffer the effects of climate change and water scarcity and the significance is high for a small, open economy like Singapore’s. What is clear is that now, more than ever, sustainability is everyone’s business.

How sustainability can benefit business

Business owners may be reassured knowing that sustainability does not come at the expense of business growth.

Sustainability sells

Studies have found that consumers look for products and brands that align with their values and are willing to pay for products with an organic, or sustainable label attached. Being known as a brand that cares about sustainability can also attract employees and investors.

This is why startups and big retailers alike are adding more sustainable products to their offerings, and committing to clean up their practices. Big names like Unilever and Nespresso have invested in Rainforest Alliance Certification to help famers deal with climate change. Locally, CapitaLand, Sembcorp and DBS Group – just to name a few – have also been acknowledged for their efforts by being included in the Dow Jones Sustainability Index.

Sustainability saves

GE saved $300 million between 2004 and 2006 from reducing greenhouse gas emissions and water usage. Wal-Mart improved fuel efficiency and earned savings of nearly $11 million. Greenpac, a home-grown firm that is now the market leader for environmentally friendly packaging solutions in Asia, has found that redesigning packaging can result in 30 percent savings.

Ultimately, with businesses and governments across the globe focusing more on sustainability, one can only expect changing regulations and requirements that reward companies who have sustainability as a priority.

How do you become more sustainable?

There are many steps you can take to increasing sustainability. For example, you can source and work with suppliers committed to environmentally-friendly practices, or take measures to reduce energy consumption and waste. What is important is that you are able to set achievable goals, and can be transparent about your progress.

SUSS supports you in your journey to being sustainable through some key courses, held in partnership with global consultancy, Deloitte. These are as follows:

Carbon Management – A Systematic Approach to Manage Greenhouse Gas Emissions (CET258)

This course will teach you about the management of greenhouse gas emissions. You’ll learn how to assess your carbon footprint and to deliver a carbon footprint report in accordance with international standards.

Sustainability Reporting – Global Frameworks and Implementation Roadmap (CET259)

A sustainability report will describe the organisation’s sustainability practices with reference to environmental, social and governance (ESG) themes. This is important to investors, and can help companies understand the risks and opportunities pertaining to sustainability. Learn about the global frameworks for sustainability reporting, about implementation and the key considerations.

Corporate Governance for a Sustainable Future (CET260)

As it is corporate governance that steers a business to success, your sustainability initiatives will only be as successful as the leadership and planning that drive them. Find out about the latest corporate governance practices you need to make sustainability a reality.

Find out more at https://www.suss.edu.sg/