How Do Companies Take Sustainability Seriously?
Over the past decades, society has witnessed a progressive yet unsurprising decline in the health of our planet. Seemingly, every day, we’ll hear about crises on the news, from out-of-control wildfires to oceans filled with plastic. And while many people are taking actions on an individual level to help mitigate these problems, it’s become quite clear that there also needs to be action taken on a much larger, systemic level. The times are changing, and now more than ever, consumers expect environmental accountability from the brands they buy from.
As a result, we’ve seen an increasing number of companies adopt eco-friendly practices in favor of more sustainable business models.
This group includes significant players who have made recent pledges to improve their sustainability and reduce their carbon footprint. But what are they actually doing?
This article will review some of the eco-friendly initiatives that giants have undertaken.
Table of Contents
- But First, What Is Sustainability?
- What are Multi-Billion Dollar Tech Companies Doing?
- The Progress And Plan For The Future
- The World’s Largest Social Media Networks
- The Plan For The Future
- eCommerce Companies and Sustainability
- The Pledges
But First, What Is Sustainability?
Before we get into what these companies are doing, it’s essential to first establish what sustainability actually is. The United Nations Brundtland Commission defines it as “meeting the needs of the present without compromising the ability of future generations to meet their own needs.”
In other words, it’s about living in a way that doesn’t deplete our planet’s resources beyond the point of repair. This means reducing our reliance on fossil fuels, minimizing waste, and promoting environmentally friendly practices.
It’s a tall order, but it’s one that these companies are starting to rise to.
What are Multi-Billion Dollar Tech Companies Doing?
The top five tech companies in the world account for 92.47 percent of the market. As they are early billion-dollar tech companies, they have always been at the forefront of technology, from what it offers today in smartphones and laptops to what it offers in computers. So, it’s no surprise that they’re also a front-runner for sustainability.
The Progress And Plan For The Future
Million-dollar tech companies have made several commitments when it comes to sustainability. In 2007, tech companies set a significant precedent – by becoming the first major company to go carbon neutral. This means they offset all of the carbon dioxides their business emits by investing in renewable energy sources like solar and wind power. They’ve also furthered this commitment by setting a goal to run their entire business on carbon-free energy by 2030.
The World’s Largest Social Media Networks
There are more than 2.5 billion monthly active users on social media platforms owned by the world’s largest companies. It’s become a part of many people’s daily lives – from catching up with friends and family to staying up-to-date on current events. And while it might not seem like a prominent player in sustainability, it’s got a profound impact. Social media’s effect on the environment is surprisingly far-reaching, and the platforms are doing their part to help mitigate that.
The Plan For The Future
These social networking platforms have made considerable efforts to create a more sustainable business model. Within three years, it exceeded its 75% goal by reducing its greenhouse gas emissions by 94% and, as of 2020, runs operations on 100% renewable energy. And they have only furthered this impressive work by drawing up new pledges for the years and decades to come, including achieving net zero emissions across its value chain by 2030.
These companies have stated that it also plans on becoming water positive by that deadline, meaning that they will give more water back to the environment than it uses.
eCommerce Companies and Sustainability
These companies are the largest online retailers in the world, with their 2022 net sales expected to be between a whopping $116.0 billion and 121.0 billion dollars. It’s become a go-to for many people looking for convenience and quick shipping, but this comes at a cost. The eCommerce giants have been criticized for their environmental impact, but it’s starting to turn things around.
eCommerce companies have made several significant commitments when it comes to sustainability. For starters, it’s pledged to power its operations with 100% renewable energy by 2025. It’s also committed to shipping 50% of all products ordered on its site using zero-emissions transportation by 2030.
In addition to instituting internal changes, the companies have also instituted The Climate Pledge, an initiative that calls on other companies to take similar steps to fight climate change.
When it comes to sustainability, many companies have taken different routes and made internal changes to their operation. Like the large eCommerce retailers, others have focused on external efforts, such as initiatives to get other companies to join them in their sustainability journey.
Regardless of the approach, it’s clear that sustainability is becoming increasingly important to companies and consumers alike. As we continue to face the challenges of climate change, it’s more important than ever that companies do their part to help make the world a better place.
Those that don’t may find themselves at a disadvantage in the years to come.
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