Sustainability is defined as the avoidance of the depletion of natural resources in order to maintain an ecological balance. To achieve sustainability goals, businesses should focus on the values of innovation, entrepreneurship, humanity and a people-centric culture.

Businesses have a responsibility to be sustainable across the supply chain, from manufacturing to the front-end with the customer. This is an expectation from all stakeholders, including employees, customers and suppliers. In addition, sustainability can serve as an important tool to drive business outcomes. According to McKinsey, 33% of businesses are integrating a sustainability strategy to improve operational efficiency and drive down costs.

ESG sustainability stands for environmental, social and governance. These three core aspects should be built into any sustainability strategy. Environment focuses on driving eco-efficiency and reducing the impact of climate change. Social focuses on investing in diversity, equity and inclusion (DEI), local hiring and corporate citizenship. And governance focuses on sustainable procurement, a strong governance and ethics framework and a holistic IT security and data protection strategy.

Sustainability is important because it is the key to a better future. Sustainability helps improve people’s quality of life, protects all of earth’s ecosystems and ensures that natural resources are available for future generations. If sustainable practices are not adopted at scale, then climate change will cause irreversible damage, the environmental health of the planet will suffer, humans will not be able to maintain their quality of life and entire natural habitats and species will be lost.

Businesses can be more sustainable by acting in the most responsible and sustainable manner possible to ensure every resource is used efficiently to maximize value. In addition, businesses can be more sustainable by working with clients, communities and every stakeholder for a sustainable future. Looking forward, businesses must focus on creating sustainable impact through all initiatives and activities.

Cleantech or clean technology refers to products, services and technologies that enhance operational performance, productivity or efficiency while reducing costs, inputs, energy consumption, waste or environmental impact. Cleantech is associated with a variety of sectors including renewable energy, green transportation, energy-efficient technologies and sustainable water and waste management.