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World Environment Day, the United Nations day to promote environmental awareness and inspire action, was recently celebrated and is a good reminder of how important it is for companies of all sizes to assess their environmental, social and governance (ESG) goals and sustainability efforts. But awareness and action are always relevant. Recent statistics show that sustainability is more important to consumers and employees than ever before. Nearly 70% of employees said they would be more likely to take a job at a company considered environmentally sustainable, even if it means a lower salary.
It's important for small and medium-sized enterprises (SMEs) to keep an eye on these statistics because a company's sustainability efforts can not only attract top talent, but also bring financial benefits to the business. For example, investing in high-quality tech products that can be easily repaired and upgraded helps extend product life and build a more sustainable technology industry, saving money that would otherwise be spent on new equipment.
I have always believed that sustainability is about finding solutions with long-term impact and working together towards a better future. Fortunately, sustainability is at the heart of what we do at Lenovo. In addition to developing plastic-free packaging for many of our products, we have also taken important steps to help customers reduce their carbon footprint. We recently launched Lenovo's Intelligent Sustainability Solutions Advisor (LISSA), an AI-powered sustainability engine that provides customers with actionable insights to understand estimated emissions impacts across the entire IT lifecycle and deliver tailored solutions that align with their sustainability goals.
Lenovo is also committed to achieving net-zero greenhouse gas emissions by 2050 with science-based targets validated by the Science Based Targets Initiative (SBTi) Net Zero standard.
Here are three key ways your SME can integrate sustainability throughout its business.
Related: 6 ways to incorporate sustainable principles into your business
1. Reduce, reuse, repair
Electronic waste is often overlooked, but it is a huge problem and it is growing. According to the United Nations, around 53.6 million tons of electronic waste are produced worldwide every year.
Therefore, the slogan “Reduce, Reuse, Repair” should be the top priority for all SMEs that want to become more sustainable.
One way to reduce waste is to implement circular processes for electronic devices in your company. This includes implementing processes that emphasize product longevity and repairability.
Invest in high-quality tech products and laptops that are designed to be easily repaired and upgraded to extend their lifespan. Look for repair-friendly technology that has parts that are easy for your employees to replace. Employees can quickly make repairs themselves, reducing the downtime they would normally spend waiting for support.
2. The power of packaging
Business owners often overlook the role of packaging in their sustainability practices, but it's a serious problem. Global e-commerce used about 2.1 billion pounds of plastic packaging in 2019, and that number is expected to more than double to 4.5 billion pounds by 2025. That means sustainable packaging is extremely important not only for the products companies sell, but also for the devices they purchase.
Whenever possible, SME owners should purchase products that use recycled, renewable and bio-based materials. For example, bamboo and sugarcane fibers are great alternatives to traditional packaging as they are made from 100% renewable materials. Therefore, look for partners and suppliers that focus on reducing packaging consumption and promote an ecosystem of more sustainable practices and solutions.
Small and medium-sized businesses that sell physical products should take similar steps to ensure they aren't creating excess waste through their packaging and shipping processes by ensuring products are sustainably manufactured and recyclable. Highlighting sustainable packaging is not only good for the environment, but it also resonates with environmentally conscious consumers and could have a positive impact on your brand's finances. Recent surveys, including those conducted by IBM with NRF and the Baker Retailing Center at the University of Pennsylvania, have found that between half and two-thirds of consumers are willing to pay more for sustainable products; among consumers ages 18 to 34, the number rises to 80%, according to a report by the Business of Sustainability Index.
Related: How your business can promote and prioritize sustainability through recycling
3. Invest in the future
You can embed sustainability even more deeply into your business by investing in the future. This can include activities such as finding recycling opportunities, limiting energy consumption and supporting sustainable charities or initiatives. For example, investing in tech products with long battery life reduces energy consumption and e-waste. In addition, working with organizations such as the Global Electronics Counsel, which promotes the purchase of sustainable technologies, can bring long-term benefits.
Adopting energy-efficient practices, participating in recycling programs and supporting sustainable causes not only contribute to a positive corporate image, but also promote a sense of responsibility among employees and customers. By investing in the future, your SME can actively contribute to the development of a more sustainable technology industry.
World Environment Day is a good reminder for small and medium-sized enterprises (SMEs) of how they can play a crucial role in shaping a more sustainable future for all. However, companies should not forget that environmental awareness is not something that only happens on one day.
E-waste is a problem that isn't going away anytime soon and is a significant environmental concern, so remembering to “reduce, reuse, repair” (and recycle too) can help make the tech industry greener. Prioritizing sustainability isn't just a trend; it's a fundamental aspect of your business that can attract top talent, encourage better financial decisions, and – perhaps most importantly – have a positive impact on our planet.
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