1. Sustainability isn’t a problem for my business
Sustainability as a foundation of good business is here to stay. And with sustainability challenges such as the impacts of climate change and geopolitical events affecting every part of the value chain and security of supply, every company – big or small, public or private, consumer goods or professional service – has a part to play in building sustainable solutions.
2. My company is too far behind on sustainability to catch up – it wouldn't be worth it
The important thing is to start somewhere and make wise changes. Every company is at a different point on the sustainability journey, and small successes will likely lead to bigger ones. Smaller players also need to remember they’re not alone. Even the largest companies in the world realize they need strong sustainability partners to extend their capabilities. By working together, tackling one challenge at a time, we can all make a greater impact.
3. Costs exceed benefits
Contrary to old-school thinking, profitability and sustainability are not mutually exclusive, and companies do not have to sacrifice one for the other. In fact, investing in more sustainable practices, infrastructure and culture can benefit multiple business areas, with more sophisticated strategies amplifying the effect. Consider this: What if an attempt to replace an environmentally risky material with a safer one delivered better safety performance, saved time and money on the assembly line, and led to a more valuable product for which customers would pay more? We see examples like this across many markets we serve. Consider how your longer-term gains may give you a competitive advantage.
4. Sustainability is too expensive
Many sustainable practices like conserving energy or recycling waste streams may save time and money immediately. Other cost savings, such as improving feedstocks, optimizing the supply chain or partnering with environmental causes, may take longer to realize. But these types of process and practice changes should be considered strategic investments, as valuable as a business’s investment in R&D or marketing.
5. We’re seen as the problem
The chemical and ingredient industries have too many times been seen as part of the environmental problem, with perceptions around emissions, spills, safety incidents, flaring and outdated notions on equality and inclusion. But while industries acknowledge these perceptions – and make responsible progress in changing them – it is also a time to move forward united in the goal of becoming part of the solution. Chemicals and ingredients are indispensable to society, helping keep people healthy, fed, clean and safe. How we do it, together and sustainably, is the question.