Sustainability

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Columbia Southern University *

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6031

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Philosophy

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Apr 3, 2024

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1 Unit IV Journal: Sustainability Name Columbia Southern University PHI 6301, Business Ethics Professor Jon Bachtold and Professor Victor Reppart January 11, 2023

2 Unit IV Journal: Sustainability Businesses Should Help Protect The Environment Businesses should take more responsibility and be required to help protect the environment. The environment is a shared resource that has to be treated with care and companies benefit greatly without directly paying for their use. Sustainability is key. “Sustainability in business generally addresses two main categories: the effect business has on the environment and the effect business has on society. The goal of a sustainable business strategy is to make a positive impact on at least one of those areas ( What Is Sustainability in Business? | HBS Online , 2018).” Companies have a significant impact on the environment through their products, services, and overall operations. Therefore, they have a responsibility to minimize any negative impacts and to provide environmental protection. Long-term viability for a business is closely tied to environmental sustainability. Pollution, resource depletion, and climate change pose risks to supply chains, operations, and overall business continuity. Consumers are increasingly becoming conscious of environmental issues, and businesses that actively engage in sustainable practices often build stronger relationships with their customers and communities. Environmental regulations exist to protect public health and ecosystems. Requiring businesses to participate in environmental protection ensures compliance with these laws, preventing harmful practices and contributing to the overall well-being of the environment. There are several potential consequences of failing to protect the environment. Many industries are reliant on natural resources without the implementation of sustainable practices as a result this contributes to resource depletion. This can lead to increased costs, scarcity, and potential conflicts over dwindling vital resources. For example, “companies are also experiencing risks in their manufacturing due to resource depletion – particularly water. Water

3 has largely been considered a free raw material and therefore used inefficiently, but many companies are now experiencing the higher costs of using the resource. Coca-Cola, for example, faced a water shortage in India that forced it to shut down one of its plants in 2004. As the 24th biggest industrial consumer of water, Coca Cola has now invested $2 billion to reduce water use and improve water quality in the communities in which it operates (Whelan, 2017).” Another potential consequence is the impact on climate change. Failure to adopt sustainable practices and reduce carbon emissions contributes to climate change. Some agricultural patterns that have severe economic consequences globally are: disruptions, rising sea levels, and extreme weather conditions. Potential public health risks are a serious concern if businesses continue to fail to protect the environment. Industrial worksites can cause air and water pollution that can result in respiratory diseases, waterborne illnesses, and other health complications, this would most likely increase the costs of healthcare. Businesses Can Take Actions To Improve Environmental Concerns There are many ways a business can become more environmentally friendly. For example, a company can do the following: “use products that reduce the reliance on natural resources, use products that are made from recycled material, conduct an environmental impact audit to assess if activities can be done differently, and increase the amount of business waste recycled (Youth Justice, Employment, Small Business and Training, 2023).” Companies can take several actions to drastically improve environmental concerns. By adopting sustainable practices (such as reducing waste and recycling), businesses can reduce their carbon footprint on a local level. For example, a local restaurant could implement sustainable practices by using energy- efficient appliances, sourcing ingredients locally, and composting any food waste. These types of actions can help minimize the restaurant’s negative impact on the environment and reduce

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4 greenhouse gas emissions. On a global level, companies could invest in renewable energy (e.i. wind, solar, etc.). This could help mitigate climate change and lessen the use of fossil fuels. “For example, Google has committed to being carbon neutral since 2007 and has invested in several renewable energy projects, such as wind farms and solar power plants. Another example is IKEA, which has invested in wind farms and solar panels to generate renewable energy for its stores and factories (Rafi, 2021).” If businesses start enforcing sustainable practices and start investing in renewable energy, they could reduce most of their negative impact on the environment and contribute to environmental protection. To conclude, these types of actions help companies improve their reputation, reduce their operating costs, and create new opportunities for growth and innovation.

5 References Rafi, T. (2021, March 24). Actions businesses can take to fight climate change. Forbes . https://www.forbes.com/sites/forbesbusinesscouncil/2021/03/24/actions-businesses-can- take-to-fight-climate-change/ What is sustainability in business? | HBS Online . (2018, October 10). Business Insights Blog. https://online.hbs.edu/blog/post/what-is-sustainability-in-business Whelan, T. (2017, June 1). The Comprehensive Business Case for Sustainability . Harvard Business Review. https://hbr.org/2016/10/the-comprehensive-business-case-for- sustainability Youth Justice, Employment, Small Business and Training. (2023, November 8). Becoming an environmentally friendly business . Business Queensland. https://www.business.qld.gov.au/running-business/environment/environmentally-friendly

Sustainability

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