Sustainable development: reinvent your business | Newsweek Mexico

We are witnessing a decisive epoch in the history of the world. Our era is characterized by economic and social upheavals. The global COVID-19 pandemic has affected lives, businesses and markets around the world. But it also presented new opportunities for corporate and investor social responsibility. For the first time, the business world is seeing positive change – social, economic, political and environmental – as relevant as profitability and customer service.

Against the backdrop of some grim statistics, we also saw the resilience of the human spirit. We are moving away from philanthropy and volunteering towards a more practical and personalized approach as a privileged form of social and environmental commitment. Today, many corporations and small businesses are embracing aggressive corporate social responsibility as another effective way to create a fair, just and sustainable world. This movement puts brands at the forefront of implementing the change people want to see in the world they live in.

Whether you have an established business or are about to launch a new venture, sustainability is no longer an optional consideration or an afterthought. Various studies show that consumers expect sustainability and social responsibility from the brands they interact with.

We are witnessing a decisive epoch in the history of the world. Our era is characterized by economic and social upheavals. The global COVID-19 pandemic has affected lives, businesses and markets around the world. But it also presented new opportunities for corporate and investor social responsibility. For the first time, the business world is seeing positive change – social, economic, political and environmental – as relevant as profitability and customer service.

Against the backdrop of some grim statistics, we also saw the resilience of the human spirit. We are moving away from philanthropy and volunteering towards a more practical and personalized approach as a privileged form of social and environmental commitment. Today, many corporations and small businesses are embracing aggressive corporate social responsibility as another effective way to create a fair, just and sustainable world. This movement puts brands at the forefront of implementing the change people want to see in the world they live in.

Whether you have an established business or are about to launch a new venture, sustainability is no longer an optional consideration or an afterthought. Various studies show that consumers expect sustainability and social responsibility from the brands they interact with.

We have seen an influx of blockchain-based startups and artworks and digital assets touted as the holy grail of digitization. The promise of blockchain technology and how its solutions will transform the worlds of business, art, social media, and entertainment is nearly limitless. Undoubtedly, blockchain and digital assets bring many benefits to those who adopt them. But at what cost ?

At the heart of any blockchain network is the protocol maintained by its consensus algorithm. This is how the network secures itself through transaction verifications and the addition of new blocks of data. Initially, the Bitcoin blockchain introduced the proof-of-work (PoW) model, with miners using powerful computers and specialized hardware to verify transactions and obtain cryptocurrency. Running these computers requires large amounts of electricity and emits excess carbon dioxide, which accelerates climate change.

Now that more and more companies are investing in crypto, the use of the PoW algorithm does not adhere to the principles of the ESG (environmental, social and corporate governance) movement. This is why companies are exploring viable and more efficient alternatives to PoW in the blockchain space.

Proof of Stake (PoS) is a more energy efficient and environmentally sustainable consensus algorithm for protecting decentralized blockchains. New projects like Cardano, Solana, and Polygon run on this algorithm and have enjoyed increasingly widespread adoption among decentralized finance (De-Fi) projects in 2021. The positive reaction from the crypto community has been so strong that even Ethereum announced a move to a Point-of-Sale Mechanism. to bring more sustainability to its platform in 2022.

And since Ethereum was the original network for NFTs and custom digital assets, this change will have significant implications for artists, musicians, and anyone who wants to consciously create NFTs. This makes it easier for businesses that use crypto, either as an investment vehicle or as a platform, to transition to clean crypto.

Moving to a PoS mechanism provides a more sustainable way to mine cryptography than traditional PoW protocols. It remains to be seen whether the wider adoption of PoS among investors, digital artists, and cryptocurrency users is gaining enough momentum to mitigate the power consumption associated with this alternative technology.

As an art publisher working with thousands of artists, we first explored the NFT space years ago. We quickly discovered the complexities associated with PoW, so we began developing free resources and educational tools through our Conscious Crypto Creator program. Ultimately, we are gravitating to the XRP ledger and actively engaging with our artist communities to learn more about some of the current challenges in launching an effective and sustainable solution.

We encourage all businesses to assess their impact on the environment and adopt more sustainable practices. In addition to the crypto-focused steps outlined above, businesses in all industries can take steps to become better global stewards with a few simple, painless tweaks to how they conduct business:

  • Reuse and recycle. Stock the office break room with ceramic coffee mugs and stainless steel utensils to eliminate plastic and Styrofoam waste. Collect and recycle aluminum cans and plastic bottles. Use recycled paper and print internal communications double-sided, or better yet, go paperless and distribute reports and invoices electronically.
  • Reduce travel. Do your part to get internal combustion engines off the road by providing free charging stations for employee electric vehicles, reimbursing public transit usage fees, and increasing remote and telecommuting options.
  • Save energy. Upgrade your physical facilities by replacing incandescent bulbs with LED lighting. Turn off electronic devices during off-peak hours. Keep workers comfortable with a relaxed dress code that allows them to get rid of suit jackets and other heavy clothing during the summer. Open the windows instead of turning down the air conditioning. Add insulation, change air filters regularly and install awnings or curtains to regulate the temperature without consuming energy.
  • Choose green partners. Decide to work only with suppliers, consultants and professional service providers who, like you, adhere to sustainable practices. This may include hiring local producers for your restaurant’s product needs; reduce transportation costs; select for your shop only clothes made from renewable natural fibers; or migrate data platforms, internet services and other applications to the cloud.

Going green isn’t just responsible, it’s also good business. Consumers, employees and partners wish to associate themselves with companies with a strong environmental responsibility. Of course, every organization is different, but each can play a vital role in reducing the global carbon footprint, reliance on fossil fuels and the waste of precious resources.

(Published in cooperation with Newsweek / Published in cooperation with Newsweek)

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