Interest in corporate environmental sustainability is rising, with companies looking for ways to reduce carbon footprints across their business practices. A recent World Economic Forum report shows that global public concern for nature has risen by 16 percent in the last five years. While the movement toward protecting the climate is far from new, the pandemic showed the world how big of a difference change can make.
Understanding sustainability in the global mobility and relocation industry context helps companies make valuable changes that work for their employees and the planet. Here is what companies and employees will want to consider moving forward as efforts continue to blend sustainability with the needs of businesses and employees worldwide.
More Companies See the Value of Sustainability
A recent study by KPMG found that nearly 80 percent of the top global companies have statements on sustainability and officially report on the practice. Additionally, the speculation is that this reporting practice will grow significantly.
As the research shows, more investors and consumers consider a company’s sustainability when considering where they spend their money. If a company doesn’t have sustainable practices, it’s easier for consumers and investors to choose a different company that takes sustainability seriously.
Smaller companies aren’t necessarily as focused on sustainability or reporting as their larger counterparts. However, many small businesses have the potential to pull customers and investors away from bigger competitors by taking a stand on sustainability and making that information easy to find.
Sustainability is More Than Environmental Conservation
Many people think of sustainability as conserving and protecting the environment. That’s certainly part of it, but there’s more to the story where businesses are concerned. From a business standpoint, sustainability focuses on three factors, commonly called ESG (environmental, social, and governance).
- Preserving the environment and protecting the earth
- Encouraging and supporting employee and social relationships
- Governing the company in a self-supporting manner (ESG)
When investors, employees, and consumers consider doing business with a company, they often look at the company’s ESG considerations. Companies that aren’t taking all three areas of sustainability seriously will often be overlooked by those that are.
How Sustainability Impacts the Mobility Industry
Sustainability is essential for B2C relationships but also affects B2B relationships. For example, any corporation evaluating which relocation management company (RMC) to use may ask about the RMC’s ESG initiatives. The RMC may also ask its suppliers and business partners for the same information.
Without the ability to work sustainably, an RMC may lose clients focused on more sustainable options who understand these initiatives’ importance. Even if the corporation is not generally concerned with sustainability, it understands that many of its customers and investors will be.
Choosing partnerships with a sustainably focused RMC will boost a corporation in the eyes of its employees and customers. Not surprisingly, the mobility industry is making strides toward more sustainable business practices.
That includes more flexibility in programs for relocating employees and partnering with suppliers working toward similar goals and levels of accountability.
Most RMCs are Taking the Situation Seriously
Most RMCs understand that sustainability is a vital part of growing their business for the future. Some of the most significant ways the global mobility and relocation industry is working to reduce its environmental impact include:
- Recycling moving supplies and choosing eco-friendly packing materials
- Choosing self-move options for short distances
- Using hybrid/electric vehicles to transport household goods
- Working with energy-efficient warehouses for storage options
- Implementing green cleaning procedures at temporary housing locations
- Using virtual tours and closings for property transactions
- Recycling and reselling furniture during room upgrades
- Using estimating and virtual inventories for shipments of household goods
For the RMC’s own offices, with some minor adjustments, it becomes much easier to protect the planet and the company with initiatives such as:
- Selecting office locations that are close to public transportation so workers don’t have to drive their vehicles to the office
- Supporting remote work options
- Using electronic payment systems
- Introducing energy-efficient lighting for offices and warehouses
The Bottom Line on RMC Sustainability
Reducing a carbon footprint for the global mobility industry and virtually every other sector involves making meaningful changes and choices that will add increased value over time. Simple changes like going paperless and using cloud-based documents contribute to a more sustainable business.
TRC Global Mobility is committed to a more sustainable mobility industry. If your company needs help assessing your global mobility program, contact us to talk with a relocation specialist.