A Good Company for Sustainable Development
Business sustainability is a way to pursue business by optimizing utilization of resources, reducing the impact on the environment without compromising on product quality, competitiveness, profitability and company’s long term goals.
There are still many businesses which do not take sustainability into consideration and hence destroy the environment. Therefore, one of the greatest challenges today is to encourage all business to adopt sustainable forms of business and social responsibility consciously.
As the environment crisis has started to impact more and more companies, they have started realizing the necessity of doing business in a sustainable and ethical way. Companies should not just focus on needs of their customers and shareholders, but they should also function according to requirements of societal responsibility.
To understand the concept of “A good company for Sustainable Development”, the Essay will cover Nestle and Coca-Cola as companies to study, both of which belong to “Food and Beverage Industry”. Through appropriate analysis and comparison in terms of their environmental policies, non-financial practices as well as “waste disposal” issues, the report is intent to achieve some conclusions and summarize the overall differences in the ways they approach sustainability issues.
In the discussion, the concepts taught in the class, and secondary data from different sources will be used to support the views. In the end, the report will give some suggestions as well as recommendations.
Discussion and Analysis
(1) Environmental and ethical policies
Nestle and Coca-Cola are considered amongst the largest beverage corporates in food and agriculture industry. They both have sustainability as one of the important developmental goals, although both follow distinct environmental policies.
To state its commitment towards environmental issues along with its business, Nestle published 'Nestle Policy on the Environment' in 1991.
Nestle also apply rules internally to reduce the environmental footprints and cost. They do it with the help of few practices like, less water consumption, reduced energy consumption and less greenhouse gas emission. Hence, basic principles in Nestle prefer long term development over short term profits; respect for diverse cultures; management based on ethical values.
On the other hand, Coca –Cola published its third Corporate Responsibility Report (CSR), in July 2008 stating its commitment towards effective usage of water, sustainable packaging and recycling, energy conservation, product portfolio as well as well-being, along with diverse and inclusive culture. Its environmental priorities include Water, solid waste and packaging, and energy. To implement their policies in a better way, CCE also cooperates with their suppliers, customers, consumers, community leaders and employees widely.
An Environmental Management System...