With the upsurge of concerns regarding environmental issues, organizations have started establishing sustainability targets and goals not only for sustenance but also as a moral obligation to align themselves towards their duty for the environment.
Sustainability is not only restricted to reducing the impact of industrial and commercial activities on the environment, it can help businesses to become more robust, save on costs and give a distinct competitive edge to industries.
Sustainable approach can help various businesses to effectively increase their triple-bottom-line growth which includes environmental, social and economic factors, which is in addition to technological variables.
Sustainable development needs to consider the effect of technology on environment as well as the society. The technology variables seem to have contrasting affects, on one hand it is improvising the standard of living but on the contrary it leads to emission of hazardous radiations, resource depletion etc. There have been continuous efforts striving to focus on cleaning technologies rather than developing clean technology. The process technologies used currently should be regulated to reduce the amount of waste produced pertaining to raw materials and energy while the manufacturing of goods.
Economic sustainability is an upcoming concept; it refers to market allocation of resources, sustained levels of growth and consumption. The organisation and its capacity to use the available resources optimally, so that the company functions effectively and also it is able to maximize profit returns. Economic variables should be such that it helps in regulating the present consumption levels without compromising future needs.
It represents the measurement of natural resources and also it reflects the potential influence to its viability. It incorporates air and water quality, to limit energy consumption and help in its preservation, proper management of solid and toxic waste which also includes electronic waste. Priority should be given to harness the available land to increase its productivity. Organisations should focus on the use of solar energy and other forms of energy rather than depleting the scantly available natural resources.
The dire need of improving standard of life followed by increased life expectancy is one of the key issues that needs to be addressed. The human rights concern is flared to include such considerations as the impact on local communities, the health and welfare of employees and a more thorough examination of a company’s supply chain. The testing of products on animals to the welfare of animals bred for the food market, concern about the welfare of animals is being contemplated extensively.
At the closure, it is necessary to mention that the above four variable elements are addressed by the Lean and Green approach of Faber Infinite described here. Like the Lean wastes and tools, the Green waste and respective green concepts are need of the hour today. Team Faber Infinite is committed towards environment and supports the cause of Lean and Green! This world environment day, let us pledge to work towards creating a fab world!
Written by: Faber Devna Chaturvedi