Combining sustainability and profitability in Asia
Across Asia a number of companies are beginning to recognise the power of sustainability in driving profits.
Some of Asia’s largest multinational corporations have embraced sustainability including Ayala Corporation, Indian IT firm Infosys and South Korean water company Coway.
In 2018’s Global 100 Most Sustainable Corporations in the World Index, South Korean company Samsung came 10th with a sustainability score of 75.8%.
While the Global 100 Most Sustainable Corporations in the World Index primarily recognises European corporations, a number of Asian corporations are leading the way combining profit and sustainability.
Here are some examples.
Kao Corp are a Japanese cosmetics and chemical company that focus on reducing the environmental impacts of their products throughout their entire life cycle.
Recognising that 50% of emissions from its products are released during consumer use, Kao Corp has focused on reducing the CO2 emissions and water use their products require. Between 2005 and 2015 it cut CO2 emissions by 24%, with 84% of packaging now suitable for reuse.
In addition, Kao Corp reduced emissions from manufacturing by 29% and emissions from distribution by 33% between 2005 and 2015.
The company is also committed to clean energy and has removed all energy sourced from coal, with a plan to remove all fossil fuels and replace them with solar energy.
Wipro is an Indian IT services company that has integrated environmental sustainability into their culture.
The company sources 37% of its energy from renewable resources, with a particular focus on hydro-electric plants with an aim to increase this figure to 47% in 2019.
Wipro also believes that buildings can be made 30% more energy efficient by improving their systems using the Internet of Things to monitor energy use in a centralised command centre.
In addition, 95% of organic waste generated by Wipro is reused within its facilities.
Fuji Xerox is a Japanese joint venture company between Fujifilm and Xerox that develops xerographic and document products and services.
Sustainability became part of Fuji Xerox’s culture in 1992 when they launched their Good Company Concept, proving their long term commitment.
Since 2005 Fuji Xerox has reduced the weight of the materials it procures by 20%, reduced energy in manufacturing by 36%, reduced the CO2 emitted during transportation by 35% and reduced energy used by consumers by 82%.
The company’s technology supported the Singaporean government to cut their CO2 emissions by 1.2 million kg, making annual savings of over S$100,000.
Godrej is an Indian conglomerate company operating in a diverse range of industries including: real estate, consumer products, industrial engineering, appliances, furniture, security and agricultural products.
The company has made large commitments to sustainability with 24% of its holding company in a trust that invests in environmental causes.
The aims of the company include: carbon neutrality, a positive water balance and a zero landfill policy.
The company’s latest report on sustainability revealed that its greenhouse gas consumption has reduced by 27%, water consumption has declined by 21% and the amount of waste sent to landfill has declined by 9%.
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Image credit: KAO