Intelligent SME.tech Issue 22 - Page 39

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Measurability is key
Consumers expect brands to be honest about their carbon footprint , so be prepared to account for your emissions .
Likewise , for a business to enact an impactful climate strategy , all emissions must be considered . A big part of this is investing in the tools that allow both businesses and the suppliers they work with to measure their impact .
Only by investing in tools that track Scope 3 emissions ( indirect emissions that occur in a company ’ s value chain ) on the same platform that analyses Scope 1 emissions ( direct emissions from owned and operated assets ) and Scope 2 emissions ( associated with the purchase of electricity , heat or cooling for a company ’ s own use ), will companies be able to obtain an accurate and holistic picture of emissions data .
Then , and only then , can business leaders make decisions that will impact the business and all associated suppliers as a whole .
Balancing planet and profit
Research shows that companies can no longer rely on their products alone to ensure customer loyalty . Consumers are looking to purchase from value-driven businesses that operate with sustainability in mind . Eco-consciousness is a smart , longterm business strategy .
Ultimately , businesses must seek to find the right balance between short- and longterm profit to work towards a successful and sustainable future . �

AS CONSUMERS LOOK TO PURCHASE FROM MORE ENVIRONMENTALLY FRIENDLY BRANDS , IMPLEMENTING SUSTAINABLE PRACTICES WILL HELP RETAILERS RETAIN CUSTOMERS AND REMAIN PROFITABLE IN THE LONG TERM .
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