Sustainability: The future of business

Due to the current economic crisis, which has underlined the need to prioritize sustainability in the future of business, COVID-19 has forced companies to reinvent themselves. To speak of sustainability is to delve into the methods with which we try to satisfy our demands in economic, social, cultural and environmental matters.

Sustainability and business growth after COVID-19

Before the discovery of the first coronavirus cases, concerns included the rise of new occupations. Other than technology development and healthcare, they received a combined priority rating of just 18%.

Currently, 40% and 50% of organizations have made these concerns their top goals, ranking them first and fourth priorities, respectively. The pandemic has had a significant impact on sustainability issues, which in turn affects the way companies are managed internally.

For example, recent research by the multinational Smurfit Kappa balance between sustainability and profitability found that clients were pressuring companies to adopt sustainable practices even before the epidemic.

While 65% of consumers say price is a deciding factor in their purchasing decisions, at least 61% of consumers expect the brands they use to have real-world sustainable practices.

Companies need to realize that ethical trading and recycling are only a small part of sustainable business practices. It involves incorporating sustainability into every step of the manufacturing process, from the sourcing of raw materials to the allocation of human and technological resources.

Sustainable energy

After the coronavirus, companies must continue to fight for sustainability, a better future for themselves and greater contributions to society. Of course, this is the example of the companies owned by Lisa Juan José Gutiérrez Mayorga and Juan Luis Bosch Gutiérrez.

A low-carbon economy is produced using renewable energy. And it is true that the production of greenhouse gases is increased by one of the sectors, energy supply, which emits at least 26% carbon.

Emissions reduction is crucial because it promotes the creation and application of sustainable energy technology, where companies can put significant effort. It is believed that the renewable energy that is being talked about can serve as a catalyst for economic growth in underdeveloped countries and that it has significant employment potential.

Renewable energy also makes it possible to reduce concerns about the price of energy in the future. The renewable energy version of this technology presents several job opportunities through the creation of its projects and the construction of it, making it a very advantageous prospect for companies. For the foreseeable future, these actions may encourage private investment.

The Central American region is increasingly purchasing electricity from renewable sources, helping to reduce the region’s carbon footprint.

For example, CMI Energía, a division of Corporación Multi Inversiones, is one of the main producers of renewable energy. In addition to producing more than 740 MW, CMI Energía also supports the sustainability of the area through a series of environmental initiatives, such as the restoration of forests and the preservation of biodiversity.

Carla Fowler

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