Lesson 8 Flashcards
Definition of a business sustainability plan?
a strategy for how an organisation plans to reach targets for achieving environmental, financial and societal sustainability.
What factors should a sustainability plan look at?
- energy use
- transport use
- waste disposal
- sustainable supply chains
What should a sustainability plan set and describe?
It should set targets and describe the actions the business, its employees and its suppliers should take to help meet its goals.
Definition of a carbon footprint?
a measure of how much CO2 or greenhouse gases are being produced through the activities of a person, organisation/business or community.
Why do businesses publish their carbon footprint?
- demonstrate to customers their commitment to sustainability
- build the brand and drive sales
- meet the demands of other businesses using their services.
What is net zero?
a strategy to reduce the amount of greenhouse gas emissions.
When does the UK government aim for the country to be carbon neutral?
by 2050
How will net zero impact land-based and animal care industries?
- Changes to working practices
- Updating machinery
- Reducing energy consumption (e.g. heat, light)
- Converting from fossil fuels to renewable energy
- Tree/hedgerow planting
- Peat management
- Methane management
- Biomass crops
What is Corporate social responsibility (CSR)?
a business strategy in which an organisation commits to work to enhance, rather than degrade, society and the environment.
What are the pros of CSR?
- Positive company image.
- Customer retention and loyalty.
- Ethical standards.
- Transparent business mode.
What are the cons of CSR?
- CSR benefits are not easily measured, so CSR may be a waste of money.
- Brand and consumer trust can be damaged if promises are broken.
- Businesses can be accused of ‘greenwashing’
What do all businesses have?
internal stakeholders e.g. employees, managers
What are external stakeholders?
Outside a business are people and groups who have an interest either financially, legally or because they hold similar views. e.g. customers. local community
What’s included in macro-level stakeholders?
international bodies, governments, industry groups, unions
What are some concerns and expectations that sustainability places on individuals?
concerns about livelihoods/prosperity in the short term (economic) but also about the impact of climate change on future generations (environmental, social, human).
What are some concerns and expectations that sustainability places on businesses?
higher costs involved in sourcing sustainable materials (economic); increased costs of ethical supply chains; legal expectations to meet sustainability goals (social); need to please consumers who are making greener product choices (economic/environmental).
What are some concerns and expectations that sustainability places on governments?
held to account internationally to meet global sustainability goals (social, environmental); duty to support sustainability to protect their citizens’ wellbeing/health (social, human); short-term pressure to create jobs and manage a prosperous economy (economic).
What are the competitive and economic impacts of sustainability on the government?
governments have an interest in ensuring they attract investment from companies and investors (economic and social) and may compete with other countries to attract investment. Government rules or policy changes can impact on global import/export (eg international trade slowing immediately after Brexit).
What are the competitive and economic impacts of sustainability on businesses?
can compete more effectively if their costs are low. If sustainable choices are more expensive (eg choice of sustainable animal feed, cleaner energy, sustainable materials or manufacturing processes) these costs can be passed onto the individual consumer as higher prices.
