Why Corporate Sustainability Is Important

At DXP, we believe we have a responsibility as a corporation to create long-term value for our customers while making a positive impact on the environment. In this article, we’ll discuss why corporate sustainability is so important to us.

What Is Corporate Sustainability?

Corporate sustainability is a self-regulating business model in which companies strive for long-term growth by embracing sustainable business practices. It aims to protect the environment and society rather than to degrade them.

Corporate sustainability is represented by three pillars:

  1. The Environmental Pillar offers solutions to reduce a company’s carbon footprint. Strategies include eliminating toxic waste and hazards, recycling and reusing materials, reducing greenhouse gas emissions, using renewable energy, and more. This pillar often receives the most attention, as its practices typically have a positive financial impact.
  2. The Social Pillar ensures that companies promote the health, safety, and wellbeing of their employees, customers, and members of the community—both locally and globally. Best practices may include implementing safety programs, giving back to the community, offering employee benefits, and ensuring access to essential resources.
  3. The Economic Pillarallows companies to make long-term investments that will positively impact the future of their business. The key is to stay profitable while still respecting the first two pillars. Cost-effective practices that would fall under this pillar include abandoning fossil fuels, implementing risk management, and creating green jobs.

What Industrial Corporate Sustainability Looks Like

It’s crucial that companies are aware of the impact they have on society and the environment. According to McKinsey Sustainability, a proper Environmental, Social, and Governance (ESG) strategy can reduce organizational costs substantially and improve operating profits by 60%. By cutting back on water, fuel, and energy consumption, companies can improve relations with the community and government. Tax incentives and subsidies are a plus, too. There is a proven correlation between an organization’s resource efficiency and financial performance.

Environmental, Social, and Governance (ESG) Strategy

Additionally, sustainable companies tend to have higher employee productivity. Having a positive environmental impact attracts responsible, hard-working individuals. It’s easy to retain these quality employees once you’ve created a sense of purpose in the workplace. Corporate responsibility leads to a rise in job satisfaction as well as improved performance.

On the other hand, companies with poor track records on environmental damage often experience lower employee productivity rates. Examples include slowdowns, labor strikes, and other forms of work stoppage. Therefore, it’s vital for employers to deliver full transparency, both within the organization and on behalf of consumers.

Ways To Reduce Your Carbon Footprint

Reducing your company’s carbon footprint plays a massive role in industrial corporate sustainability. It’s an opportunity to slow climate change, prevent the depletion of Earth’s natural resources, reduce greenhouse gas emissions, and ultimately preserve the environment for future generations.

Unfortunately, rising carbon emissions have a direct impact on global warming and the disastrous effects of climate change. Fortunately, there are simple ways for corporations to combat climate change and its consequences.

Here are some steps you can take to make sustainable changes in your organization and limit your carbon footprint:

  • Use sustainable suppliers and vendors
  • Invest in clean energy solutions
  • Limit and recycle operational waste
  • Switch to energy-efficient products and appliances
  • Educate employees with proper training
  • Refrain from storing unnecessary data in the cloud
  • Advocate for nature-friendly policies
DXP’s Corporate Responsibility

DXP’s Corporate Responsibility Pledge

First and foremost, DXP is committed to delivering transparency to our loyal partners, customers, and members of the community. We aim to establish and maintain best practices in the following areas: environmental management, responsible sourcing, employee education, workplace safety, and responsible supply chain practices.

Over the years, we have enhanced our ability to support our clients and partners by acquiring a diverse group of companies with a strong corporate focus on sustainability. Additionally, through the implementation of our robust Environmental, Social, and Governance (ESG) Strategy, we will drive sustainability improvements in our organization wherever possible. We pledge to meet standards and exceed expectations inside and outside our operations. Learn more about DXP’s commitment to corporate sustainability.

DXP is your one-stop solution provider for all our industrial customers’ needs—providing quality first-tier MROP products, supply chain expertise, customized pumping solutions, and more. To get a quote, please contact us today!