What are the three pillars of sustainability?

Now, there are plenty of ways to future proof your business with sustainability in mind, especially if you’re already focusing on the key elements of ESG. One effective way to future proof your business, of course, is to invest in commercial solar panels, particularly when they’re built in as part of a wider sustainability strategy.

Today, the concept of sustainability for businesses is built around what’s called its three pillars, or if you like, its Triple Bottom Line, that collectively encompass all of the different key priorities for a sustainable business. So, let’s take a look at each one in a little more detail, shall we?

Environment

This one more or less does what it says on the tin. The Environment pillar is concerned with caring for the world around us, and encourages everyone – individuals and organisations alike – to reduce wastage, reduce pollution, and work towards a vision of a cleaner and greener Earth.

So, as a business, where can you start? Well, energy consumption is probably a good place to focus on first. Investing in energy efficient appliances can help significantly reduce your energy wastage (and expenditure) given enough time, and of course investing in renewable energy sources like wind – and crucially, solar – can reduce your dependence on the National Grid, making you less vulnerable to sudden price hikes.

It’s also worth noting, of course, that studies indicate environmentally conscious firms are more likely to attract funding – which leads us neatly on to our next point.

Economic

Sometimes referred to simply as profitability, or the governance pillar. Now, this is one that obviously gets a fair bit of attention because at the end of the day, if you own and run a business, you do it to make a living. But crucially, it’s not about being profitable about any cost. The Economic or Governance pillar also focuses on encouraging organisations to properly observe government policies, and be transparent in their accounting process. That means giving due care and attention to risk management, for example. It also aims to ensure that the goals of the director (or directors) align properly with the interests of the shareholders, customers, and wider business community.

Social

The Social pillar is concerned with the more human aspects of running a business; namely the treatment of employees, and the company’s role in the wider community. That means, for example, giving proper attention to employee benefits, providing decent renumeration, and of course family and maternity benefits.

Giving employees the choice to work remotely is one example – since the Covid-19 pandemic, there’s been a massive rise in the use of home working for countless business, and as a result it’s something that many jobseekers are looking for as a baseline incentive from employers.

Another element of the Social pillar is about engaging with the wider local community – for example through charity drives – ultimately ensuring that the business is supported by employees, stakeholders, and the community in which they live and work.

That’s just a brief overview of each pillar in turn, of course – but if you’re already forging ahead with your plans for the Environment pillar, that’s exactly where we can help here at Low Carbon Energy.

Our experts have over 30 years of combined experience, having helped SMEs and large corporations across a wide variety of sectors transform their business’ energy supply. Each of our installations is bespoke, and we tailor your solution on your specific energy profile, helping us to maximise carbon reductions and save you up to thousands of pounds in energy bills.

Feel free to look at our case studies for just a few examples of businesses which have reaped huge rewards from solar, such as Boeing and Irish Water. To find out how we can help you, feel free to give us a call today on 01282 421 489!