In a world where climate change is becoming an increasingly urgent issue, businesses and consumers are adopting more sustainable practices.
In this article, we’ll explore consumer and environmental trends in business that are taking shape in 2024 as the world adjusts to a new reality of increased sustainability efforts. We'll look at how companies are responding to these challenges with renewable energy sources, eco-friendly trends in marketing and sales initiatives and other strategies for reducing their carbon footprint.
1. A turn to renewable energy sources
What is a recent trend relating to sustainability worldwide nowadays? As global warming continues to worsen, businesses are increasingly turning to renewable energy sources to reduce their carbon footprint and become more sustainable. Solar, wind, geothermal power all feature heavily in current environmental trends in business as companies look for ways of reducing their reliance on fossil fuels.
2. Appealing to sustainable purchasing habits
The market of environmentally conscious consumers is growing. Millennials especially show a growing interest in brands that “embrace purpose and sustainability”, according to reporting by the Harvard Business Review. The same reporting also revealed that although a majority (63%) of consumers expressed interest in sustainable trends when it comes to purchases, only 26% followed through.
Appealing to interest and encouraging follow-through simultaneously can help businesses gain traction for their sustainability initiatives. The above statistics are the cause behind environmental trends in marketing that revolve around providing incentives for responsible consumption or environmentally conscious purchases. These strategies can be supported with aggressive marketing and social awareness campaigns.
3. Taking on waste reduction initiatives
From sustainability trends in zero-waste lifestyles to tax initiatives for recycling material, businesses are looking for ways to cut back on their carbon footprints with a more mindful approach to waste management.
Methane emissions-the byproduct of waste-significantly accelerates the production of greenhouse gasses, in fact, it is 80x more aggressive than carbon dioxide emissions. Businesses are actively making switches to waste-conscious business practices, including reducing food waste through composting, switching to biodegradable materials and cutting back on single-use plastics.
4. Sustainability reporting and compliance
While EPA (Environmental Protection Agency) and ESG (Environmental, Social, and Governance) reporting is mandated by governing bodies for some businesses, regular reporting and compliance can serve businesses well. These agencies consider how a business’s day to day functions coincide with best practices for environmental conservation initiatives. In fact, businesses can often use reporting to demonstrate a commitment to transparency and their efforts toward environmentally conscious business practices.
Sharing these findings in the form of easily digestible graphs or videos is an easy way to share your messaging with consumers in an impactful way.
5. Joining the ‘circular economy’ environmental trends in business
The circular economy is a new concept that is gaining traction as businesses, governments and individuals alike seek to reduce the amount of waste produced and create a sustainable future. The circular economy trend seeks to keep products, components and materials in use for as long as possible and extract the maximum value from them while in use. This is achieved by shifting from the traditional linear model of “take, make, dispose” to a circular model of “design, use, reuse, recover.”
The concept of a circular economy is based on three principles: design out waste and pollution, keep products and materials in use and regenerate natural systems. It seeks to reduce waste through the reuse, repair and sharing of products, as well as through the adoption of renewable energy sources, such as solar and wind power. In turn, this helps to reduce the use of finite resources and minimizes the impact that production and consumption have on the environment.
By prolonging the lifespan of products, the circular economy reduces the need for manufacturing new products, which in turn reduces the use of resources and energy. It also encourages businesses to design products with reuse and recycling in mind, which helps to create a more sustainable system.
The circular economy is an important concept for a sustainable future, as it helps to reduce waste and conserve resources. As businesses and individuals have started becoming more aware of the need for a circular economy, environmental trends in business focusing on this concept are set to become more widely adopted in the years to come.
6. Local responsibility and social sustainability trends in business
Green initiatives often take the shape of grassroots initiatives. Starting local is becoming increasingly popular, with many businesses finding ways to contribute to their local environments in more ways than one.
For example, many businesses are participating in efforts to conserve local biodiversity, building greenspaces and building partnerships with local vendors and suppliers for more sustainable procurement practices.
7. Swapping paper for more sustainable ESG technology
Going paperless is a growing environmental business trend. It’s not only a sustainable practice, but the switch from print to paperless can also save businesses money annually.
Moving from print doesn’t equate to abandoning marketing efforts or information sharing. In fact, switching to digital strategies can make that content that much more accessible for the audiences you are trying to reach. Digital signage can take the place of large print content, commanding attention and making it easier to take advantage of space with automated content rotation and making content accessible on handhelds through scannable QR codes.
How to become a more eco-friendly business
Turning a new leaf and moving towards more sustainable practices can be simpler than it seems. Here are some of our recommendations for creating business practices that keep up with emerging environmental trends.
Create a plan of action for adopting each environmental trend in business
As is true for any business initiative, starting with a strong idea of how you can put new sustainable trends into practice can help smooth the transition. Spend some time collaborating across your team to coordinate efforts.
The first step is to create benchmarks. You can use the ESG benchmarks of businesses in similar industries, or create your own. Some goals you might hope to work towards could include:
- Reducing waste production.
- Increasing the use of reusable products.
- Partnering with local vendors and suppliers to reduce carbon emissions and create more environmentally conscious purchasing practices.
- Eliminate paper-based information sharing when possible.
The goals you create should be measurable and specific, especially if you hope to report these goals and use your progress as a way to publicly commit to green efforts. Failure to do so can lead to the appearance of greenwashing, which can have the opposite effect of what you are trying to achieve.
New technology can help you achieve ESG goals
Swapping out outdated tools and techniques for greener, modern solutions is an easy way to take a step in the right direction.
Some businesses may see it in this year’s forecast to make the switch to more environmentally sustainable energy resources, outfitting their businesses with solar panels to reduce the use of nonrenewable energy. Though this solution may not be in the cards for everyone, other tools can help cut back in similar ways. Motion-activated lights, for example, can help reduce energy use even if the switch to solar is not possible.
Energy isn’t the only way businesses can show a commitment to greener practices. The switch to paperless can help cut back on waste, too. Digital signage is an easy way for bars, restaurants, gyms and healthcare facilities to start making the switch. All it requires are some in-house screens and a stable connection to the internet.
Here’s how your screens can help you meet your goals for going paperless:
- Reduce printed advertising, fliers and posters by using customizable display templates. Not only are they simple to create, but they can offer more insight into how effective your campaign is with robust user analytics.
- Turn printed interest forms and feedback surveys into contactless digital forms. Then, share your new, sustainable deliverables on our screens with a scannable QR code. Not only is this a more eco-friendly alternative to lost papers, but it is also an effective way to ensure that customers can access information on the go, from their own devices.
- Share and publicize your sustainability initiatives! Getting your patrons and guests on board with your sustainability efforts is not only an effective strategy for building trust in your business's efforts to be environmentally conscious, but it can help you see more from your sustainability efforts, too.
Make sustainability more than just an environmental trend in business with UPshow
While business trends may fizzle and fade, sustainability and environmental consciousness are here to stay. The symptoms of climate change are on the rise and it is everyone’s duty to make changes where they are due.
Even if it feels like it’s a small step, moving in the right direction can help your business help the planet, something consumers are increasingly paying attention to. From paperless marketing to celebrating your latest environmentally friendly partnership with local businesses, UPshow can help you showcase your commitment to a greener planet.
