Why Sustainability is Good for Business

Honor Donnie  |  February 18, 2022   |  Energy & Sustainability  


With 2022 in full swing, BlackRock CEO Larry Fink published his annual letter to CEOs on behalf of his organization’s clients. Mr. Fink has spent three decades getting to know exactly what stakeholders are looking for, providing an annual letter to give a glimpse into the future of business. As an investment company with a diverse group of clients, BlackRock works to keep its clients well informed of potential sustainability considerations.

Although Mr. Fink’s letter touched on many interesting points regarding business in 2022 and beyond, there is a common theme that we’d like to explore further: capitalism and sustainability. Now that sustainability has taken a footing in all aspects of life, companies need to be prepared for the future, but sustainability and capitalism are not mutually exclusive. Keep reading to learn more about how prioritizing sustainable business practices can ensure your organization’s longevity and profitability. 


Sustainable practices and why companies can’t afford to wait 

With more customers demanding transparency from their favorite businesses, companies need to start implementing sustainable practices, if they haven’t already. As Larry Fink points out, today’s consumer cares about holistic business practices. The average U.S. millennial is far more likely to be sustainable-minded than their older cohorts. This means that companies must evolve with the generations. As the fight for climate change becomes more evident, customers are looking to practice what they preach and that starts with the companies they support. 

68% of surveyed Americans are looking for environmentally responsible programs from companies

The push for sustainable practices has permeated the workspace as well. For many employees and potential candidates, the sustainability practices and social responsibility of a potential employer is just as important as work culture and compensation. From current customers to potential employees– 68% of surveyed Americans are looking for environmentally responsible programs from companies. If the pandemic has taught us anything it’s that adaptability is key to business continuity. As newer and more senior businesses evolve, sustainable practices will be at the foundation of business resilience. 


Adoption of sustainable technologies, will you be left behind?

The push for sustainable business practices is not just coming from consumers, but from the government as well. Climate change is a global issue that impacts everyone. With worsening conditions, the government has stepped in to motivate companies into climate action. As the Biden administration pushes to tackle the climate crisis with federal operations, companies can expect an influx of policies and regulations. 

Sustainable business practices are not a fad that companies can ignore, they are here to stay. Playing catch up as pressure to make changes intensifies could be costly. Being proactive and staying on top of climate change regulations will better protect your business as well as the earth. And adopting the right sustainable technology will be beneficial in the long run.


ESG Data Management: Fueling Reporting with the Right Data


What will it take to achieve net-zero?

Achieving a net-zero society is possible but it requires dedication and hard work. While the idea can seem daunting to businesses, it’s all about setting the right goals. The climate crisis took years to create, and it will take time to fix. Larry Fink suggests setting goals focused on the short-term, medium-term, and long-term for businesses to have a better chance at succeeding in their net-zero efforts. 

One of the most important things about achieving a net-zero society is using the right data to monitor and measure your progress. With new technology available, manual data collection and analysis just isn’t enough. Instead, companies need a streamlined process. From quicker insights to secure experiences, energy data automation is key to a net-zero future. 

According to Larry Fink, it is important to understand that achieving net-zero emissions looks different in each industry. While the end-goal is the same, the practices may be individually tailored. Working at the pace of your business is critical, that is why setting the right gradual goals matters. There is a world where affordable access to energy and net-zero emissions meet, your business just needs the right practices to be part of it. 


Urjanet’s data automation can help your sustainable business practice efforts

While Larry Fink is just one person, he has become a leader in the ESG space. Business leaders need to consider his advice as they make the changes necessary to support climate action. Starting your ESG journey does not have to be complicated. By implementing strategic sustainable business practices now, your company can be comfortable with what’s to come. Whether your company is just starting its sustainability journey or in need of a better process, Urjanet’s data automation is here to help. Speak with one of our data experts today to learn more.


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About Honor Donnie

Honor Donnie is a Marketing Coordinator at Urjanet, with a passion for content creation. When she’s not at Urjanet, she can be found reading, cooking, and listening to great music.