Eco-competitiveness strategy

Now-a-days every company is embracing an eco-competitiveness strategy to enhance their profitability, customer loyalty and corporal reputation. With eco-competitiveness strategy the organization will be able to handle environmental issues (carbon footprints etc ) by minimizing their dependence on inadequate resources like energy, water and land and cost.

In order to apply eco-competitiveness strategy the organization should introduce it in every arena (from its supply chain and sales operation to facilities management and the IT infrastructure) of business strategy and culture for appraising the environmental impacts and new projects.

The companies can establish its carbon-cutting credentials and move around environmental sustainability into a competitive business advantage.

Many organisations get on environmental programmes to express their commitment to climate change and to encounter the rising raft of environmental laws like the UK’s Carbon Reduction Commitment (CRC) Energy Efficiency Scheme. Besides many organisations have also take part in voluntary initiatives for instance the Carbon Disclosure Project (CDP). An independent non-profit organisation, the CDP maintains the largest database of corporate climate change data in the world.

For maintaining an effective eco-competitiveness strategy the companies should take a structured approach with the following guidelines.

• Put up exact and concurrent information on the environmental goals, performance and risks.
• Sustainability efforts should be maintained with greater control, centralization and consistency
• In company’s environmental programmes the importance should be given on proper Performance Measurement, Information Management and Ideas Management.
• Maintain standardized processes and accepted frameworks for performance measurement and reporting
• Try to assess the volume of CO2 saved per pound or dollar spent and any related revenue or reputational enhancements with new business approaches
• Enforce specialist technology and IT solutions to provide greater intelligence and efficiency to the measurement and monitoring procedure
• Utilize computerized programme to accumulate and authenticate operational data used for carbon emissions reporting, carbon reduction and energy efficiency measures
• Recognize and assign a priority to material environmental issues quickly
• Maintain a standard for measuring current consumption levels of natural resources
• Precisely get across and report ongoing performance applying reliable and comparable information
• Pass along pertinent risks and successes in a well-timed manner
• Get access to more precise and frequent sustainability metrics to report on carbon reduction and energy efficiency measures accessible by the public
• Utilize automated energy management solutions to measure the consumption of energy on daily, weekly and monthly basis and consumption of other natural resources like water in addition to the carbon emissions related with business travel and logistics.
• Make a simple or easier regulatory compliance and reporting with a robust framework for performance measurement to speed up public relations and a company’s brand and reputation
• Apply Global Reporting Initiative (GRI) to facilitate the organisations with a framework for evaluating and reporting economic, environmental and social performance as well as issues related with climate change
• Promote the growth of a two-way approach for communicating as part of the eco-competitiveness efforts to capture ideas for new sustainability projects.
• By applying the same ‘business value’ measure to environmental programmes to accomplish an optimum balance among cost and risk ensuing in greater eco-competitiveness.
• Create a sustainable operating model to cope with the risks involving future supply issues encompassing the world’s natural resources both at a local and global level to put off business disruption at individual sites.