Circular Economy Initiatives Bring $8 Billion in Revenue to Businesses Large businesses that implement circular economy initiatives and improve resource efficiency made more than $8 billion in 2015 compared to their peers, according to an industry survey conducted by U.S. sustainability consulting firm Pure Strategies. The survey results show that corporate sustainability actions can make brands deeply rooted, which in turn drives sales, motivates employee morale, and further reduces risks and costs. These big brand enterprises that profit from the execution of sustainable actions will also invest more in sustainability projects in the future to build their corporate sustainable operation image. Pure Strategies invited 153 world-renowned companies with an annual turnover of at least $250 million to fill out the industry survey, spanning the food and beverage industry, ready-to-wear and footwear, biotech and medical products, electronics, home care and cleaning, personal cleaning products and cosmetics, and department stores. While the corporate sustainability initiatives in the questionnaire included actions related to climate change, resource efficiency and circular economy, sustainable agriculture as well as chemicals management topics. Of these surveyed firms, 43% increased revenue by more than $1 million by executing sustainability initiatives, and 45% saved manufacturing costs by promoting resource and productivity efficiency improvements. Clorox, a major American household cleaning brand, has saved $15 million in manufacturing costs by the end of 2015 since it began executing sustainability improvement projects in 2008. Respondents also cited product innovation, green design and development, corporate sustainability value as well as sustainable procurement as having the greatest benefits for increasing corporate revenue. Unilever said the group has grown 30% rapidly since the brand set its sustainability values, with revenue from specific sustainable brand products in the group accounting for more than 50% of the group\u2019s annual growth in 2015. In today's world of global consumers' awareness of sustainability and environmental protection, multinational consumer goods brands have set their brand's sustainability goals and practices, and these world-renowned brand enterprises will gradually require their upstream supply chain manufacturers to actively cooperate to achieve their sustainability performance. In such a global trend of promoting green sustainability, it is recommended that SMEs in Taiwan's consumer goods supply chain actively examine whether their product processes meet the requirements of international trends such as improved resource efficiency, reduction of harmful substances and waste recycling to successfully align with international brand supply chains and achieve a win-win situation of sustainable operations and environmental protection. Pure Strategies industry survey report for details Appendix: Sustainability is redefining the source of business value Source: Environmental Leader (2016-12-22) (PIDC compiled)<\/p>","protected":false},"excerpt":{"rendered":"
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