Hertz, Phillips, Kingfisher, DONG Energy, BASF and PepsiCo are among the large companies moving toward more sustainable business models and reaping economic rewards, according to a report published today by WWF.
The Green Game-Changers report, produced by Verdantix, shows businesses can grow — and create new markets — while generating net-positive environmental impacts, WWF says.
Companies should reassess the value chain, the report says, and look at their total environmental impacts, both upstream and downstream. The report says PepsiCo and BASF have both had early successes in creating restorative models that have a net-positive impact on the environment.
The report recommends companies monitor emerging models, and says companies like Kingfisher and Hertz have been prompted to move towards business models based on sharing or renting goods and services by companies like Zilok and Zipcar.
It says companies shouldn’t stop at sustainable innovation, but should use this to benefit themselves and customers, and cites Phillips and Dong Energy as two firms that are doing this. Philips’ B2B Pay Per Lux sells lighting as a service, and the company also recycles existing equipment and installs energy-efficient lighting, which it retains ownership of. The firm pays customer energy bills and recycling costs at the end of the lighting’s life, the report says.
Additionally, sustainable business models require buy-in from companies’ leadership. The report says Umicore employees credit their business’s transformation to a consistent vision from the top of the firm backing increased recycling and “urban mining.”
The report also says shifting towards sustainable models cannot be done without collaboration with external partners.