Authors: Peter J. Batt; Romain Batany
The drivers for the adoption of sustainable business practices are mostly economic, but firms are also motivated by the values and beliefs of employees and top management to reduce the firm’s environmental impact. Government legislation, both current and anticipated, is also seen to encourage firms to adopt more sustainable business practices. Benefits for the firm include: cost reductions, improved profitability, a competitive advantage, access to new markets, improved image, improved employee satisfaction and government support. Internally, the main barriers for the firm are: costs, the prevailing business culture, information and technical barriers, other business priorities and personal reasons. Externally, the barriers are identified as: the lack of qualified suppliers, variable consumer demand and the lack of government support.
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