Sustainable Manufacturing
Globally many governments are now recognizing the need to do more to combat climate change and cut greenhouse gas emissions, with many pledging to achieve net-zero carbon emissions. With these important yet ambitious aims in mind, it is no surprise that organizations and government agencies alike are becoming more interested in sustainable manufacturing.
Increasingly companies are treating “sustainability” as an important objective in their strategy and operations to increase growth and global competitiveness. This trend has reached well beyond the small niche of those who traditionally positioned themselves as “green” and now includes many prominent businesses across different industry sectors. In many cases, these efforts are having significant results.
Many manufacturers have already publicly announced their climate commitments. A good starting point to realize those commitments is to understand one’s carbon footprint and climate-risk exposure. In fact, by 2025, climate-risk assessments will be mandatory for listed companies, large private businesses, and the services sector.
There are many reasons for implementing sustainable manufacturing practices – not only can it be cost-effective, but also enhance the safety of the facility, the employees, the products, and the community. It can also improve the reputation of the brand, which can have a positive impact on sales and instill customer trust. Presently, many purchasers and consumers actively seek out suppliers who have eco-friendly processes, as we all want to feel good about what we are purchasing.
However, manufacturing ecosystems are complex. Once you begin to audit the sustainability credentials of your ecosystem, it may become overwhelming. Were the natural resources ethically sourced? How were they transported to the factory? Was the manufacturing process carbon neutral? As things stand, these are difficult questions for any manufacturer to answer. Yet, the business benefits and opportunities are numerous.
Organizations progress towards sustainability by enhancing their performance and reducing their resource footprint. Industries can advance further by addressing sustainability in a coordinated, integrated, and formal manner.
Today a large and growing number of manufacturers are realizing substantial financial and environmental benefits from sustainable business practices. Frost & Sullivan believes that this is the way forward and is trying to accomplish transformative change through its Sustainability Practices.
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