Several startups in India, including Ecolibrium Energy, LoudCell, and REConnect, offer energy management systems and predictions to large and medium-sized manufacturing and retail businesses.
These systems provide power sourcing, real-time data analytics forecasting, and the use of green energy.
For example, Ecolibrium Energy, a startup based in Ahmedabad, has helped more than 500 businesses decrease their energy costs by 10% to 25%. IIM-A is sponsoring the startup, which will generate an income of 12 crores in the next two years.
Therefore, energy management platforms have significant potential in emerging nations, particularly China and India, where ensuring a sustainable energy supply is a top priority.
In this article, we shall talk about multiple such efforts by emerging startups worldwide to promote an environmentally conscious attitude in the business world.
Common Sustainability Efforts By Startups
Given below are some of the commonly noted sustainability efforts put forward by emerging startups around the world—
1. Accounting For Their Carbon Footprints
Businesses that reduce carbon emissions can gain a competitive advantage by driving growth, enhancing brand recognition, and attracting new clients and partners.
By monitoring carbon data, companies can reduce ESG compliance costs and identify areas for improvement.
Thus, sustainable practices can increase customer loyalty and confidence, particularly among environmentally conscious customers.
Cutting emissions is important for businesses that want to reduce their carbon footprint.
To help with this effort, Climeworks AG has found a successful way to capture and store carbon dioxide underground, a positive step toward fighting climate change.
This accomplishment highlights the potential of direct-air capture technology and the demand for sustainable behaviors and solutions.
2. Using Coworking Spaces
Coworking spaces use sustainability techniques more frequently to reduce their carbon footprint and improve the environment.
To achieve this goal, the coworking space employs various strategies to become more sustainable. These techniques aim to protect the environment and minimize the negative impact of office spaces on nature.
They integrate eco-friendly materials, energy-saving technologies, waste-reduction strategies, and green building design concepts into their infrastructure.
Sustainable coworking spaces must incorporate renewable energy sources. These locations offer networking possibilities, bringing experts from many industries together to exchange knowledge.
Furthermore, as of June 2022, more than 28000 coworking spaces are available worldwide. These spaces are also eco-friendly as they help reduce carbon emissions by minimizing travel time.
3. Promoting Remote Work Culture
COVID-19 sped up remote work and digitalization. As a result, during the pandemic, the number of Americans working from home increased to 37%. 91% of remote workers prefer to continue working remotely or in a hybrid setup.
76% of these workers expect that their employers will allow them to continue working in this way in the future.
By using less paper, digitalization helps save trees and reduce greenhouse gas emissions. By eliminating the commute, working from home can save time and money on transportation.
Moreover, gas emissions will significantly drop if all employees work from home for half of the workweek.
Startups encourage remote work because of its immediate advantages, future economic and environmental advantages, reduced need for office space and commute, and reduced carbon footprint.
4. Going Completely Digital
Digital transformation aims to enhance people’s lives by simplifying procedures, automating tedious tasks, and increasing productivity.
This saves time and effort and enables individuals and organizations to make more informed decisions and solve problems more creatively.
Digital technology aims to help people and businesses thrive in an ever-faster and more interconnected world.
This leads to increased productivity, improved corporate agility, and new value creation for shareholders, customers, and employees.
By automating repetitive work and optimizing processes, organizations can quickly respond to changing market demands and seize new opportunities, ultimately driving growth and success in the digital age.
5. Buying Tokens In Green Projects
Business2Blockchain and BridgeDefi.com are collaborating to develop the Green Carbon Token platform.
The purpose of this platform is to tokenize the Green Bond, which will enhance blockchain efficiency and integrity.
The platform intends to allow only safe listed investors and corporations to participate in the offset market and demonstrate their diligence and achievements.
This platform will enable buyers to purchase accountable emissions through a marketplace.
An alliance has been formed to ensure all companies manage their ESG status and profiles.
The alliance aims to represent projects undergoing due diligence and contribute to sustainable CO2 supply through an exchange or market. The success of new technological shifts depends on effective teamwork.
6. Adopting Green Supply Chain Partners
Adopting green practices can positively impact the environment and a company’s reputation throughout a product’s lifecycle.
Today’s consumers favor socially conscious businesses, and incorporating sustainable materials, reducing waste, and implementing energy-efficient measures can lead to lower costs and greater long-term growth opportunities.
Additionally, environmentally responsible companies can gain a competitive edge by standing out from competitors and gaining market share.
Green supply chain management can benefit businesses by reducing costs, waste, and pollution while improving asset efficiency, reputation, and environmental sustainability.
Building A Better Future
Startups in India are making a big impact by creating job opportunities and promoting innovation.
They are responsible for almost half of all new jobs, even though they only comprise 20% of the total employment.
This shows startups’ importance in reducing unemployment rates and creating new jobs.
In addition, these young companies are actively working towards sustainability and environmental issues.
They use renewable energy sources, reduce waste, conserve resources, and improve energy efficiency.
By doing this, they are helping the environment and showing how sustainable methods can benefit companies.