Expert Insights: Small Business Sustainability Strategies
From nice to have to need to have, the business case for small business sustainability grows and the data is hard to ignore.
Customers, employees, investors and new mandates are driving the necessity for sustainability practices to be embedded within small businesses. In the past, sustainability initiatives were optional for companies to pursue. As attitudes and regulations have evolved, small businesses are learning the importance of acting now.
The Statistical Evidence for Small Business Sustainability
Small to medium-sized businesses (SMBs) contribute to a minimum of 50% of all total greenhouse gas (GHG) emissions within the business sector. This wake up call is changing the way businesses of all sizes tackle sustainability. Smaller businesses are often left out of the conversation regarding decarbonization, but now their inclusion is vital for success.
Consumers are a significant force with rising expectations and preferences for sustainable practices from the brands they purchase from.
More than 60% of US consumers in a 2020 McKinsey survey would pay more for a product with sustainable packaging.
In a global survey, 78% of consumers believe that environmental sustainability is important.
The undeniable surge in these sentiments is evident. According to a survey conducted in 2023, 62% of US adults indicated that they "always or often" seek environmentally friendly products, marking a remarkable increase of 27% compared to 2021.
Looking within a business, employee trends are showing positive attitudes towards sustainability.
A 2023 Esker survey revealed, 80% of respondents indicated that prioritizing sustainability practices and values in today's society is either "extremely important" (48%) or "somewhat important" (32%) for businesses.
IBM’s research found that 71% of employees and job seekers viewed environmentally sustainable companies as more attractive.
In a 2023 report by Deloitte Consumer Center, 69% of employed adults expressed a desire for their companies to invest in sustainability initiatives, which encompass reducing carbon emissions, adopting renewable energy sources, and minimizing waste.
Large enterprises are also pushing for their supplier counterparts to engage in corporate sustainability practices. Numerous small businesses with enterprise partnerships are being asked to complete climate disclosure requests. These factors have contributed to the push for sustainability implementation within SMBs.
Practical Sustainability Strategies for Small Businesses
Innovation and collaboration are crucial for sustainability to thrive within small businesses. The process of decarbonization begins with calculating emissions. From there, identifying emission hotspots and understanding what your small business carbon footprint actually means is important for developing reduction and mitigation strategies. Empowering employees, often through “green committees”, to share ideas and build the next actionable steps your business can follow. Here are a few sample strategies to help your business get started:
Reducing the number of flights and finding sustainable transportation alternatives.
Decreasing electricity usage within office spaces and swapping to renewable energy sources.
Eliminating excess waste produced during operations.
At RyeStrategy, we understand the challenges that small businesses face in navigating the path toward sustainability. That's why we specialize in providing tailored support to help small companies create and implement practical sustainability strategies. From identifying key areas for improvement to developing actionable plans, our team is dedicated to guiding you every step of the way. Schedule a consultation with us today to learn how we can help you make sustainability a reality for your small business.
Keep reading: Q&A: Sustainability for Small Businesses with Cooper Wechkin
Learn about our affordable carbon footprint solutions for small and medium-sized businesses
Book a free strategy session to discuss your climate goals with a sustainability manager.
Check out our blogs about small business sustainability below:
About RyeStrategy
Based in Seattle, RyeStrategy is a CDP-accredited, mission-oriented company specialized in carbon accounting, mitigation coaching, and climate disclosure solutions for organizations at any point in their sustainability journey. Learn how RyeStrategy helped Salesforce, Ideascale, and Wazoku achieve their sustainability goals.
From exhaustive carbon footprinting and mitigation coaching, to setting science-based targets and reporting climate data to CDP, SBTi or custom reporting platforms, RyeStrategy acts as a hands-on extension of the team, custom-tailoring services to fulfill climate disclosure requirements easily and accurately.
Meet with a sustainability specialist to learn more about RyeStrategy solutions.
