With large amounts of waste comes even more significant consequences for your business. Is all this waste going where it should be? Is it getting there in the most efficient way possible? Most importantly, are your waste solutions helping or hurting your ESG initiatives?
In this post, we will ask ourselves four essential questions to help determine whether or not your waste solutions are optimal. Let’s get started.
Question #1: Are Recycling and Waste Solutions on Your Radar?
The sad truth is that when it comes to industrial waste, corporations tend to make decisions with less consideration for the environment than for other factors. However, more and more companies are realizing the importance of ESG initiatives and the significant benefits these initiatives have on their company.
The bottom line is that if your company emits a large amount of waste, your recycling and waste solutions need to be on the top of your list for ESG initiatives. With the right know-how and the proper support from waste management experts, this is not such a daunting task.
Don’t wait until it’s too late and your company is publicly called out for being wasteful. Instead, proactively make the necessary steps towards a better solution. Regardless of your industry or what enormous amounts of waste you emit, this is entirely doable with the proper support.
Question #2: Are You Tracking Your Progress and Collecting Data on Your Waste Initiatives?
If the answer to this question is no, then your company is simply not maximizing your ESG reporting responsibilities.
The collection and analysis of waste data is the only surefire way to prove that your company is acting responsibly and in compliance with regulations. Also, it is the only way to track your progress and confirm that you are implementing appropriate waste initiatives in the first place.
Every company’s recycling and waste needs are different. Without data analysis, there is no way your processes are at peak efficiency for your business’ specific needs.
Data-Driven Decisions with eTrac
If you would like to see an example of data-driven recycling and waste management, look into our industry-leading application eTrac. eTrac aggregates all operational and financial data to a single system that encourages data-driven decisions for our customers.
eTrac helps us ensure a consistent client experience across all sites, regardless of geography. It’s also the platform that delivers transparency directly to our clients with eTrac’s Client Portal. The portal provides each client with real-time analytics at the property, regional, or corporate level, serving as the foundation for ESG reporting.
Question #3: Are Your Current Processes Meeting Your Goals?
The chances are that your current processes could be running more efficiently. The first step toward updating your processes is to consult an expert. An ESG consultant or a waste solutions expert will be able to take a look at your company’s specific waste needs and help you develop a step-by-step plan to update your processes.
Question #4: Are You Sharing Your Success?
You do your part, follow regulations, and avoid fines- problem solved, right? Not quite.
When your company is truly going above and beyond to execute ESG initiatives, there are considerable benefits to sharing this information.
In order to reap the rewards of your efforts, you must share your ESG initiatives and successes so that it is publicly known. Share your initiatives on social media, your website, at conferences, and anywhere else relevant to your company. Doing so can improve brand reputation, attract top talent, investors, and stakeholders, and lead by example to promote positive environmental change.
Improve Brand Reputation
It’s no secret that large corporations get a bad rep. Your PR representative may be inclined to share a heartfelt story or announce your latest donation to charity- as you should. But it’s also critical that corporations address the problems they are creating- I.e., vast amounts of waste.
Rather than ignoring this giant red flag, addressing it publicly and making an actionable change can drastically improve how customers view your company. Not to mention potential employees, investors, and stakeholders too.
Attract Top Talent, Investors, and Stakeholders
82 percent of companies don’t think they recruit highly talented people, and only 7 percent of those who do believe they will be able to retain those talented employees. Many factors are associated with employee retention, one of which is being a company that employees are proud to work for. A similar notion also applies to investors and stakeholders.
A publication from Harvard Law states, “Expect the corporate social responsibility efforts of companies to move beyond simply “giving back to society” to also incorporate sustainability as a tool to systematically manage risk and create long-term shareholder value. Additionally, understanding a company’s impact on the environment and society will feature as essential expertise at the board level, with sustainability experts becoming key additions to many boards.”
In the last few years, ESG initiatives have transformed from a nagging afterthought to a top priority for corporations to be taken seriously in the marketplace.
Lead By Example
While governance and societal pressures can shift companies towards more sustainable practices, it is important to remember that companies can also pressure each other to do better.
Fortune 1000 companies did not get where they are today without keeping an eye on their competition. If one competitor moves to a more sustainable way of business, it pressures the rest of the industry to follow suit, creating a snowball effect. By leading by example, one company can drive a much larger environmental impact.
Keter’s Data-Driven Waste and Recycling Solutions
Keter Environmental Services is your end-to-end recycling and waste management partner- here to help you achieve your sustainability and ESG goals. At the foundation of our solutions is actionable and auditable data. Your company is unique, and our use of advanced data and technology to evaluate and analyze your waste streams helps us to develop programs that bring real economic, environmental, and societal value to your company.
If you’d like to learn more, visit our program benefits page or contact us to speak with one of our waste experts.