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How sustainable practices can positively impact the bottom line

·3 min read
It's possible to be profitable and be socially responsible. (Courtesy of Polestar)

Paid for by Polestar

Debating whether to incorporate sustainability into your business strategy is no longer an option, as profit and sustainability are two sides of the same coin.

This is why many brands realize that selling products is a meaningful benchmark, but it’s equally — if not more — important to sell products that support environmental conservation.

For example, for Polestar, a premium electric car company, performance matters as much as the planet. Its newest campaign released during the big football game showcased how intrinsic sustainability is within its DNA. Polestar prefers to move away from traditional ways of doing business and say “no” to conventions that could compromise its acceleration toward sustainable mobility. It says no to greenwashing, empty promises and colonizing Mars, emphasizing that planet Earth is its top priority. According to Polestar, the transport industry is one of the biggest polluters, therefore leaders and brands must have the responsibility to bring change.

If you’re considering integrating sustainable practices into a company’s operations, here’s how it can improve business performance and increase revenue.

Sustainability inspires brand loyalty

Having a sustainability strategy in place can help connect with customers emotionally. It showcases that the company prioritizes complex and severe issues that modern consumers deeply care about, demonstrating its commitment to this purpose as a driver for profit.

Sustainability increases employee engagement

Instead of viewing work as a place that provides a paycheck, employees are increasingly aligning their values with their employers. They want to feel part of a company with a mission to leave a positive impact on society, rather than working with a team with a weak responsible culture, which becomes a competitive advantage when attracting the best talent.

Courtesy of Polestar
Courtesy of Polestar

Sustainability boosts technological innovation

Eco-friendly initiatives can also drive innovation by sparking partnerships with other like-minded leaders, introducing new tools that cut costs and boost efficiency.

Polestar is challenging itself with its Polestar 0 project to create a climate-neutral car by 2030 by reducing emissions throughout the entire supply chain and production. To make this possible, Polestar has launched an open call for research and collaboration, inviting universities, suppliers, governments, entrepreneurs, experts, innovators and others to join them in this endeavor. It has recently announced its plan to collaborate with strategic partners from the metal, safety, driving systems and electronics sectors, including the U.N. Sustainable Development Solutions Network.

This uncompromising way of doing business leads Polestar to seek out the best facilities and knowledge to usher in a more sustainable electric future. Polestar is now set to manufacture in the U.S., which can enable local economic growth, efficient delivery times, better pricing and a lower carbon footprint.

Transparency drives sustainability

As more brands gear towards a greener future, consumers are becoming hyper-aware of the possibility of greenwashing, which is why sustainability must be accompanied by transparency. Polestar counteracts this concern by showcasing on its website its eco-friendly practices, such as supply chain traceability through blockchain, which empowers customers to make informed, ethical choices.

To mitigate the problem, Polestar releases life cycle assessments of its vehicles to help pinpoint the car components and processes that need to be reimagined to reduce — and ultimately eliminate — carbon emissions.

Now is the time for businesses to become part of the solution, use part of the profit to reinvest in sustainability initiatives, and further innovation for a prosperous future.

From Polestar:

Polestar is determined to improve the society we live in, using design and tech to accelerate the change to sustainable mobility. With a non-compromisable mission, innovative technology and materials, and electric powertrain, it offers a premium driving experience. Click here to learn more about Polestar.

This article was paid for by Polestar and created by Yahoo Creative Studios. The Yahoo Life editorial staff did not participate in the creation of this content.