June 4, 2021
5 minutes reading
Opinions expressed by Businessmen the contributors are their own.
Corporate Social Responsibility (CSR) is no longer optional – it is essential for any business owner to stay competitive. A recent report by the Institute of Governance & Accountability found that 90% of companies listed in the S&P 500 index that publishes its annual Corporate Social Responsibility report. For companies of previous years, earning profit was the ultimate goal, everything. Today’s corporate citizens must go even further, finding meaningful ways to give back to the society that has driven their growth. Consumers want it, and the world needs it.
Among the most pressing areas for CSR efforts is environmental action. Climate change ready destroy our world, causing natural disasters to occur with increasing frequency and intensity, disrupting agricultural systems worldwide and threatening life as we know it.
Business owners must design CSR plans with clear steps to reduce their impact on the environment. The climate crisis is accelerating; every corporate entity must find a way to reverse it. As you shape your company’s future, here are some places to start.
The past 40 years have seen the use of paper 400 percent increase, which has had disastrous effects on the world’s forests. Based on National Geography, more 500,000 square miles of forests were decimated between 1990 and 2016 alone. The Amazon rainforest was hit the hardest: 17% of which was destroyed in the last half century. Trees both absorb CO2 and trap other greenhouse gases, so the more trees we lose, the more climate-destroying gases stay in our atmosphere and the more our planet becomes. become less livable.
It has never been more necessary for companies to conduct business transactions online. It has never been easier either. Cloud platforms, data visualization products, e-signing services, and more have exploded in recent years, making it easy for companies to turn paper into an obsolete commercial practice.
Upgrading old technology
One of the biggest challenges companies face when undertaking environmental CSR efforts is incorporating new technology into old business processes. We see this happening in the auto industry, already icy positive in an effort to transition away from fossil fuels.
For me, it’s related to blockchain chuỗi. I recently started working on building a new platform with my team where artists can sell their work using NFT. In the process, I learned that many blockchain services are still based on Proof-of-Work (PoW) verification systems. When it was first established, PoW was an advanced technology that helped Bitcoin and other cryptocurrencies can, but now it makes an almost inevitable contribution to climate change. Bitcoin alone consumes 132 TWh per year – the equivalent of 12 million homes in the US.
I also learned that newer, more environmentally friendly technologies exist to businessmen like me. XRP Ledger has abandoned PoW, uses Federal Consensus to validate transactions, closing over 62 million ledgers while using only as much energy as 50 US homes.
Especially for new business ventures, creating the core of eco-friendly infrastructure will bring countless benefits to you and to your world. It will reduce your own energy costs and help you become a CSR leader.
Now or never
Environmental forecasts are rarely anything but grim. Scientists predict that in 50 years, if humans maintain current levels of emissions, ocean water will become more acidic, major coastal cities will flood, ecosystems will be distorted. serious and more and more. CSR is essential, and acting for the environment should receive your shared attention. All areas of our world – your private sector and our public sector – cannot afford anything less.
Impact is possible
A common misconception is that only large or profitable companies have a CSR plan, and that is simply not true. You don’t always need to have a big budget to create one. Whether it’s just you or a team of ten employees, it’s possible to make a significant impact. After designing a CSR plan that fits your business model and ethics, consider leveraging your network or cultivating new partnerships. I currently have a lean team of four and we leverage our social media audience to create different movements towards Sustainability.
Measure your impact
Measurement is often the biggest challenge many entrepreneurs face. Usually, it’s a lot easier to report on fundraising dollars; however, the impact is not just monetary contributions. We measure our impact by reach and focus on developing the awareness tools and educational resources needed to inspire calls to action.
For Earth Day 2021, we took an innovative approach, partnering with a social impact agency called Project-People. We commissioned an artist to create impactful content that speaks to our environmental goals. Using social media captions, we asked: ”What steps will you take to make a difference this Earth Day? ” Collectively, the piece of content was re-shared on various digital platforms and generated more than 180,000 views.
If companies take the necessary steps towards sustainability now, we will all reap the rewards in the future.