'Resource Efficiency' is using the earth's limited resources in a sustainable manner while minimizing the impacts on the environment. Continued worldwide population growth is resulting in a global increase in demand for

CS Professional · Environmental, Social and Governance (ESG) Principles and Practice · PYQS · June 2024
'Resource Efficiency' is using the earth's limited resources in a sustainable manner while minimizing the impacts on the environment. Continued worldwide population growth is resulting in a global increase in demand for products and associated resources. Currently, our society consumes more resources than the earth can provide and renew. Only improved efficiency can counteract the soaring consumption of natural resources. In this context, briefly explain the ways and means to improve resource efficiency in business organizations.

Answer & Explanation:

The ways to improve resource efficiency in business organizations: Application of Waste Hierarchy: The Waste Hierarchy ranks waste management options according to what is best for the environment, with prevention being the most desirable option and disposal being the least. To put this in place, one should identify what type of waste the business creates, if any of this waste can be re-purposed, if recycling more waste materials is possible, and if any organic waste (e.g. food/garden waste) can be used to create renewable energy or composted. Waste Assessment: Assessing waste will not only help the organisation to apply waste hierarchy, but also to identify problem areas and develop a plan of action. The management might discover that a particular process is causing more waste than realised, or that a different material can be used in place of a less efficient one. Controlling of Waste: By enhancing accuracy, improving communication, and providing the appropriate tools and training, the management can assist its team in reducing wastages, thereby saving cost and also contribute substantially towards preserving the environment. Implementation of Environmental Management System: Environmental management systems, such as ISO 14001, are becoming increasingly popular for businesses looking to reduce their environmental impact. These management systems can help an organization to improve its environmental performance, reduce environmental liability, and decrease costs. Reduce Energy Consumption: By reducing the consumption of energy, an organization can save both energy as well as costs. Some of the ways to reduce energy consumption include turning off lights and equipment when not in use, use cold water rather than hot water where possible, and utilizing power saving functions in usage of various machines and other electrical gadgets. Increase Energy Efficiency: Not only the business organisation can take steps to reduce energy consumption in the workplace, but can also make changes in order to improve energy efficiency. For example, the business enterprise could change its lights to LEDs which use up to 90% less energy than traditional incandescent bulbs. Communication with Staff: It is essential that management communicate the organisation's goals clearly to its human capital for enhancing efficiency and reduce waste in the workplace. Further, clarity in communication assist in creating an awareness among the team members as to what is expected from them by the management. Participative Management Style needs to be embraced wherein the human capital employed at various levels of the hierarchy are consulted in order to obtain their views/suggestions on improving efficiency in production and reducing wastages. Using Re-use and Refill Approach: According to the United Nations Environment Programme, only about 9 percent of the 9.9 billion tons of plastic generated globally since the 1950s has been recycled. And, almost half of the plastic waste poisoning marine life, contaminating food, and clogging waterways and sewers comes from consumer packaging. As citizens and governments wake up to this plastic pollution problem, they're turning to business to solve it. In response, companies are trying to craft new approaches to plastic, whether reducing over packaging or rolling out biodegradable materials made of seaweed and corn-starch. But one solution - the reuse and refill business model - stands out for its potential to shift consumer behavior while unlocking new revenue streams and cost savings for companies. Reduce Wasteful Office Practices: Going by the waste hierarchy, the best-case scenario is to prevent waste, even if it is recyclable. With this in view, the management may review the office practices to find ways to limit waste. Printing is one of the biggest culprits for unnecessary waste in the office - to combat this the management may discourage printing of long documents and prefer e-version of the documents as far as possible. Understand the Legislation: It is essential that to comprehend the regulatory framework that governs the waste generated by the organisation. In this regard, the business organisations may adopt the following: Keep waste to a minimum. Sort and store waste correctly. Complete waste transfer notes. Ensuring registration of waste carrier. Ensuring that waste carrier disposes off the waste legally.

Topics: Environmental, Social and Governance (ESG)

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