IMPLEMENTING
SUSTAINABILITY
By implementing sustainable practices, retail businesses can reduce their
carbon footprint, promote social responsibility, prepare for rigorous mandates
in climate reporting, and contribute to a more sustainable future. When it
comes to reducing operational emissions and environmental impact onsite,
retailers have many options that may include energy efficiency measures,
reducing water use, practicing proper waste disposal, and procuring onsite or
offsite solar for their energy. However, for retailers, decarbonizing their value
chains is perhaps the most critical action in achieving their sustainability goals
as the value chain is responsible for up to 98% of total emissions. Unfortunately,
many negative environmental impacts and emissions from the retail industry
stem from policies and business operations that prioritize convenience for
consumers, such as cheap goods and services, fast shipping, and convenient
delivery. To meet sustainability goals, retailers may have to make some
sacrifices regarding these marketable business policies. However, the benefits
associated with using more sustainable products and the positive consumer
and investor interest in retailers that prioritize lessening their environmental
damages can offset any initial costs associated with decarbonizing. Additionally,
future litigation risk may incur future costs for retailers that either misreport or
fail to report the necessary data to the SEC, should their climate reporting rules
get finalized.
Sustainability & Energy Management Simplified
