Innovations in different industries have been catching our attention more and more as the future of our planet has started looking worse because of climate change. At the beginning of the sustainable wave companies that focused their R&D on sustainable solutions were not taken seriously, but as the years have gone by and the focus of consumers has shifted towards making better choices for the future, even the bigger companies have jumped on the bandwagon and started to focus on innovations and product development that are better for the environment.
Sustainable innovations mean business
At SHIFT Business Festival we believe that business as usual is not good enough and that we need to embrace innovations and change to benefit people, business, and the planet. What this means is that innovations that also benefit the planet are not just something nice to have and something that good-hearted people develop to fulfill their mission for a better future for the environment, but that business can also be profitable and at the same time help the planet we all live on.
Ecological thinking as regards innovations has penetrated different industries across the board. Ten years ago it was unimaginable that in the biggest grocery store chains there would be entire departments and shelves dedicated to vegan products. But here we are and the food tech industry is growing by leaps and bounds as investors have noticed the potential. Even major companies put in a lot of resources to keep up with the competition.
The sharing economy is growing too – look for example at the way it has affected our everyday transportation. Instead of owning your car, you can now share one, because common-use cars have entered the market.
Partnerships based on green values
Many of the examples mentioned are about consumer products but what about products and services for businesses? How can the B2B sector make a difference and why should it? As more and more companies who want to be industry leaders are taking sustainability and climate change into their focus, they also need to think about who they are partnering with.
Consumers are highly knowledgeable about greenwashing and quick to notice if the promises of sustainability are not actually fulfilled at the operational level of the company. B2B companies whose core value is sustainability and who make an effort to tackle climate crises do not want to collaborate with companies whose actions can tarnish their brand.
Every business needs networks. Every company also has plenty of stakeholders. But as we are now in the middle of the climate crisis, businesses are choosing their partners much more carefully. This means that any business that wants to succeed in the future, cannot close its eyes to what is happening to our planet. This does not mean that every industry and business needs to start innovating new things, but every business can look into what they are doing and how they are doing it so they can do better for the planet AND business.
Tapping into innovations and processes from other industries can also provide new insights for your business. That is why companies that want to stay ahead stay curious about what is happening in the world and follow where innovations lead us and our planet.
If you want to get inspired and stay ahead, join SHIFT Business Festival 2022 on August 24-25 in Turku and start building your sustainable network and make sure your business is future-ready.
Head of Sales and Marketing
SHIFT Business Festival
SHIFT Business Festival is a two day business event in Turku, Finland, organised on 24-25 August. SHIFT 2022 invites guests to reconnect and challenge their thinking regarding leadership in a digitalised world, technology and sustainability.