The entire world has witnessed a climate crisis and the recent Covid-19 pandemic from the start of this year has made things more critical. This is the reason why sustainable businesses are expected to make a huge impact globally with positive actions. In the last decade, sustainable businesses have grown in many areas, but the most exceptional shift has been to work towards finding the solution and understanding the issues, in maintaining sustainable efforts within the business.
Every year, experts review the big themes in the sustainable business of how the organizations will be managing the environmental issues and future goals with changing climates. In 2019, environmental changes put many questions for the global system, if it will be able to achieve the goals or not.
5 Positive Sustainable Business Stories of the Year
Let’s see what 2020 has come up with for sustainable businesses.
1. Starbucks Strategy To Become Resource Positive
Starbucks CEO Kevin Johnson announced in January that they will be focusing on being a resource positive company by giving it more than receiving. They have mentioned science-based introductory target reduction of carbon, water and waste by 2030, and concluded 5 strategies to achieve the same.
Here are the key points of the story:
1) Increasing plant-based alternatives for an environmental-friendly menu.
2) Reusable packaging to eliminate waste as much as possible.
3) Innovative agricultural practices along with water replenishment in the supply chain.
4) More eco-friendly operations, Starbucks stores and delivery.
5) Recycling and elimination of food waste for better waste management.
2. Microsoft Announced The ‘Carbon Negative Plan’
Microsoft President Brad Smith, Chief Financial Officer Amy Hood and CEO Satya Nadella have designed a pathway to becoming carbon negative by 2030 and by the year 2050, Microsoft will eliminate the Carbon from the environment with an impactful plan. The process is going to be a bit difficult, but the company has decided to fund and initiate the plan by expanding internal efforts.
From investing $1 billion in a climate innovation fund, taking responsibility for the carbon footprint, developing digital technology for helping suppliers reduce carbon usage to ensuring transparency, they have concluded it with 7 key principles for aggressively pursuing carbon emission goals.
3. Tony’s Chocolonely
Being the winner of the Sustainable Brand Index in 2019, Tony’s Chocolonely has decided to work for limiting their environmental impact and promote eco-friendly practices in the year 2020. The strategy is to focus on providing 100% slave-free chocolate along with reducing the negative environmental impact by practising CO2-emission.
They have stopped using palm oil and are deploying different measures to reduce climate change and CO2 reduction. By collaborating with Justdiggit (An NGO focusing on restoring landscapes and dry land in Africa), Tony’s Chocolonely is setting a large example to the businesses around the world.
4. SDG500: $500 Million For Sustainable Development Goals
For achieving sustainable development goals by 2030, a new investment platform SDG500 has been launched in Davos with an investment of $500 million, backed by private and public organizations across the world. The funds will be used for equity investment and debt in initial business stages. SDG500 is all set to support agriculture, finance, education and healthcare across Asia, Africa, Latin America, the Caribbean and Pacific regions.
SDG’s goals include:
- No poverty
- Zero Hunger
- Good Health
- Quality Education
- Clean Water & Affordable Energy
- Industry Innovation & Economic Growth
- Sustainable Cities & Communities
- Climate Action & Responsible Consumption
- Peace & Justice
- Partnerships for the Goals
Success Story: Hatsun Agro Turnover From Rs 13,000 To 5400 Crores
5. Financial Giant Like Mastercard and Partners To Plant 100 Million Trees by 2025
Mastercard announced the Priceless Planet Coalition in January 2020, which will be the platform to make sustainability efforts and investment to support the environment. Mastercard along with funding partners Citibank, Santander UK, IHS Markit, bunq, Saks Fifth Avenue, L.L. Bean, New York Metropolitan Transportation Authority, Transport for London, and American Airlines, have pledged to plant 100 million trees by 2025.
Having billions of customers, Mastercard and partners have participated in implementing sustainable strategies and joint campaign for sustaining the commitment.
Apart from these, brands like Adidas, Reebok and more are launching eco-friendly products to reduce waste in the fashion industry and promote plant-based products. With managing economy and sustainability together, big companies and brands are working towards a better environment.
What To Hope in 2020-2021?
Here are a few more sustainable businesses trends in 2020 to watch:
- Companies will be demanding aggressive climate change policies by using their political partnerships and influencers in 2020.
- Asian regions are on the edge of severe water crisis impacting the communities. Initiatives to be taken by the brands and governments.
- Vogue magazine’s announcement to reduce waste by educating its customers about reusable and sustainable fashion options.
- Bumble Bee Tuna and SAP to track fishes which may impact the supply chain.
- China’s announcement to green the global market by 2025 with eliminating single-use plastic and plastic packaging for the postal services. Being among the largest plastic manufacturers, China manufactures 29% of the world’s plastic products.