This is the first blog of our new series focusing on sustainable companies. By providing these case studies, we aim to provide inspiration and guidance to companies looking to start their sustainability journey or those looking to expand on existing strategies. Over the last five years, there has been a 71% increase, globally, in online searches for sustainable goods.
Since we are a Canadian company, our first feature will focus on three Canadian companies, each from a different market sector.
The coffee company, 49th Parallel, is an example of a privately held sustainable company. Its sustainability strategy focuses on forming lasting long term partnerships with coffee farmers around the world. It works directly with its supply chain to improve product quality and ensure price stability and fairness. Their Direct Trade Sourcing Philosophy provides for fair prices for all parties and gives 49th Parallel an opportunity to work with growers to help solve farming problems resulting from climate change and artificial pricing. 49th Parallel owes its success to a complete integration of its sustainability and business strategies that creates a competitive advantage in the marketplace and connects them to a market demographic of sustainability oriented consumers. Its latest annual revenue is reported as $25.3 million.
In the services sector, an example of a sustainable company is the Prince of Whales, a wildlife viewing tour operator. The company’s survival is intricately tied to the survival of marine wildlife and as such conservation is at the core of its business strategy. Prince of Whales brings educational workshops to schools, including a naturalist course for young children. It donates 1% of its profits to conservation and offsets 110% of its carbon emissions, making it a Climate Positive company. It made a Biosphere commitment, a leading sustainable tourism certification, as well a commitment to implementing the UN Sustainable Development Goals. The Prince of Whales has operated for over 30 years in British Columbia and is a regular Traveler’s Choice award winner. The Prince of Whales operates in a market with many competitors, but its reputation as a conservation leader gives it an advantage in a market where 66% of consumers are willing to pay more for sustainable products (Business of Sustainability Index).
The clothing retail sector is extremely over-saturated and contributes to 8% of global greenhouse gas emissions. Being a sustainable retailer is a major challenge for most fashion brands. Nomi Designs is a Canadian brand that exemplifies sustainability. Its products are made from post-consumer recycled materials thereby diverting thousands of tonnes of waste from landfill. It works with Indigenous artists to provide exposure and pays above industry standards for pattern designs and royalties. The clothing design, print and manufacturing is done entirely in Canada, thereby contributing to the local economy and drastically reducing their carbon footprint of transportation. The company promotes circularity through its upcycling program which gives customers 15% off for the return of worn items. Nomi Designs has created a sustainable business strategy in tune with market and investor demands. In a survey conducted by McKinsey, results show that 66% of all consumers and 75% of millennials consider sustainability when making purchasing decisions.
Summary
Each of these companies has gone beyond the standard Corporate Social Responsibility approach. For them, sustainability is not an operational expense, rather it is a business strategy that gives them a unique advantage and differentiates them from their competitors while creating a positive impact on people, profits and the environment.
Leave us a comment let us know what you think of these three features and which sectors you’d like to see covered next.
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