Sustainability Challenges in Business Sectors

TASK 1- Introduction: Sustainability Challenges and Strategies in the Garment Industry

Sustainability refers to an ability which support a process over time. Sustainability in business is important to decline adverse environmental or social impact that cause due to business operation in specific market or industry. The present essay will base on the case study of “The Garment Industry in Bangladesh: A Human Right Challenge.” It will discuss sustainability issue within the garment industry and challenges in application of sustainable initiatives and effects of sustainability on supply chain in apparel industry. It will outline sustainable strategies to enhance working conditions and strategies of one brand to manage sustainability in business function.

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Sustainability issue in garment industry

A sustainability issue defined as a problem or challenge that impacts the ability of the environment, community as well as economy to effectively maintain its resources and contributes to the well-being of the current and future generations. It is a broad concept, fundamentally concerned with human interaction, influence on environment and exploitation of workers (Ruggerio, 2021). Globally, 10% of world`s carbon emission is done by the garment industry, including 85% of textile waste, biodiversity damage as well as exploitation of garment workers.

1. The main sustainability issue faced by the garment industry of the Bangladesh is greater emission of carbon leads to adversely impacts environment. In garment industry, there is huge use of dyes for coloring the manufactured clothes (Haseeb et al, 2020). Use of synthetic dyes as well as plethora of chemicals in processing of textile leads to threat the environment in the significant manner. The released of chemicals into ecosystem immensely harm aquatic life, create health risk to workers as well.
2. Another sustainable issue faced by the garment industry includes exploitation of the workers. Within the industry, there is no proper working conditions as worker works with harmful chemicals without any ventilation facility or equipment like exhaust fan. In addition, the factories within the industry have no fire alarm of safety equipments, put life of employees into threat.
3. Lack of adherence of the building or construction rules and regulation is also a sustainable issue. The building of garment industry not constructed while compliance with the construction laws leads to become the reason of unsafe working conditions with lack of fire exists, poor ventilation and exposure of toxic substance.
4. Textile waste is a greater sustainable issue within the garment industry. Polyster and Nylon are non-biodegradable and unsustainable, emits greenhouse gas and destruct ozone layer. The non-use of sustainable materials such as cotton, linen, organic hemp causes generation of greater textile waste and pollution in the environment.
5. Another issue within garment industry includes gender discrimination and low wages as women paid less compared to the men for similar work. Also, women feel more controllable.
6. One of issue of garment industry of Bangladesh is non-compliance with law, therefore constructed illegal floor, putting in danger the life of several people.

To address the sustainable issues globally, Sustainable development goals are created with the objective to transform our world. There are 17 SDG goals with the aim of ending inequality, poverty as well as protecting the environment and uncertain that all individual enjoys health, justice and prosperity.

8^th goal namely decent work and economic growth aim is to promote inclusive as well as sustainable economic growth with productive employment and decent work for all. The aim of the goal includes that everyone access to a better working environment where they feel respected as well as health with a good economic growth (Pizzi et al, 2020). According to the SDG goal, it is crucial for the garment industry to improve there working condition so that there is no harm to employee`s health.

The 12^th SDG goal of sustainable consumption and production deals with the sustainable issue effectively and efficiently. The goal aim is producing goods and services in sustainable manner to decline the negative environmental impact. This goal contributes in declining sustainable issue of garment industry.

The 13^th goal is taking action for climate. According to the goals, it is important for individual, companies and industries for taking actions against the activities that impacts climate. The garment industry by taking action of using sustainable materials and dyes can combat the sustainable issue of harm to environment. Thus, it is crucial for the garment industry to operate its operation considering the SDG goals in effective and efficient manner.

It is analyzed that there are various number of challenges in implementing a sustainable initiatives in the apparel industry. It is as under:

High Cost: One of the great challenges in implementing sustainable initiative within the industry is high cost. To operate the business in sustainable manner, garment industry has to use sustainable materials like organic cotton, hemp, linen which is very expensive (Islam et al, 2020). Use of sustainable material is cost 70% of total cost to produce a garment, makes final product more expensive. Thus, due to high cost of sustainable material, business in garment industry not able to use this kind of materials. To compensate the high cost challenge, company by using waste reduction and recycling system can overcome the cost aids in effective implementation of sustainable initiative.

Availability of sustainable materials: Another challenge is sourcing of sustainable materials for sustainable production within the garment industry. Lack of availability of sufficient amount of sustainable material creates hindrances for implementation of sustainable initiatives. To overcome challenge company should collaborate with wide range of suppliers or invest in effective production of sustainable materials so that able to get sustainable material on time.

Lack of awareness: Presently, company have lack of awareness regarding use of the sustainable initiatives such as waste management, recycling, energy-efficiency sources. Therefore creates a challenge in implementation of the practices. For solution of this, government should increase awareness by effective advertising or conducting awareness programs.

Non-availability of dye substitute: Most critical challenge is decline the use of hazardous chemical in textile production due to non-availability of dye substitute. Textile industry with the help of Research & Development focus on producing natural dyes made of herbs and plants, aids in implementation of sustainable initiatives effectively.

Effects of sustainability on supply chains in the apparel industry

A greater sustainable supply chain can aids in decline the garment`s industry environmental impacts in numerous ways such as using sustainable materials, manufacturing processes and so more. Sustainability in supply chain means use of socially and environmentally sustainable practices at every stage to protect and support the people and environment across the whole chain.

Sustainable supply chain have several advantages including minimizing environmental impacts, enhancing working conditions, ethical production processes as well as increasing consumer confidence. The effects of sustainable supply chain in apparel industry are as under:

Decline environmental impacts: The use of sustainability within the supply chain leads to effectively declines negative environmental impacts. The sustainable supply chain includes collaborating with the suppliers of organic materials to get sufficient supplies on the time (Muthu, 2020). One of the UK organization, Beaumont Organic collaborate with the suppliers to sourcing environmental conscious materials for their collections. This leads to furnish Beaumont Organic to get organic cotton, linen, bamboo, wool for manufacturing of final clothes. It leads to declines negative environmental impacts. On the other hand, the supplier collaboration one of global practice leads to increase cost of the supply chain, impacts profit-margin of business.

Improving company operations: Sustainability within the supply chain of apparel industry assist the company to uphold social as well as environmental standards for company`s own operations and supplier`s operations. Therefore, the companies within the industry adheres all rules, regulation and laws related to sustainable production. For sustainability within the supply chain, organization uses various techniques such as waste management, water management and reuse, reduce and recycle policy and so more. For instance, H &M use waste management practice within the supply chain, the company focus on recycles unwanted garments to declines textile wastage. In addition, company use techniques such as automation, artificial intelligence to forecast the demand of clothes so that manufacture accordingly, leads to enhance company`s operations.

Fostering innovation in production method: Use of best global ethical sourcing practice of invests in the supplier’s development, fosters innovation in production method and makes company distinguish from others. Company of apparel industry by providing training, resources and incentives to the supplier aids them in produce more sustainable materials (Todeschini, Cortimiglia and de Medeiros, 2020). This leads to aids the organization to get sustainable materials on time which is already available in less quantity. This aids in producing innovative products, helpful in attracting wide range of customers.

Reduction of the cost: The use of sustainability within the supply chain aids in decline the cost within the business. Companies for distribution of the products or for supply of raw material to factories use electronic vehicles, result in decline of pollution and reduce cost for transportation. This in turn enables organization to offer product and services at cost effective prices to the customers as well as help in getting the comparative advantage in the market. Thus, sustainability within the supply chain of apparel industry is helpful in declining cost in the an effective and efficient manner.

Healthy and safety working condition: Sustainable sourcing within the apparel industry aids in focus on the well-being of the workers. The Primark focuses on fair labor practices to ensure safe working condition for the employees including proper ventilation, availability of safe equipments for the production and so more. According to this, supplier furnishes fair wages.

Transparency and Traceability: Sustainability in supply chain aids in bringing transparency and traceability within the business. This sustainable sourcing practice aids in focus on transparency throughout the supply chain. It leads to furnish stakeholders such as consumers with information like origin of raw materials, manufacturing process as well as overall environmental and social influence of the product. In addition, traceability of raw materials aids the organization to ensure that product meets the standard of sustainability. This aids the business to grab the attention of wide range of customers in a competitive environment.

Building brand loyalty and reputation: Sustainability within the supply chain in apparel industry aids the business to build loyalty for the brand as well as create reputation. Customer likely to be loyal when business represents strong and effective responsibility towards society and environment. For instance, Patagonia ensures that supplier of the company compliance with the local and international labor laws, environmental regulations as well as human rights standard to reflect commitment towards society and environment. This leads to aids the business to build reputation and brand loyalty that is crucial in get competitive edge.

Thus, sustainability is essential in the supply chain to positively contributes towards environment and enhance operation of business.

Formulation of sustainable strategies to enhance the working conditions

Referring to the case study, it is analyzed that in Bangladesh working condition of garment industry is not good as there is no proper ventilation facility and availability of safety equipments like fire alarms (Khan, Islam and Islam, 2022). In addition, the ferment industry of country has no facility for washrooms, doing lunch, parking vehicles, sanitation and drinking water. Further, there is high discrimination within the industry within male and females, usually females are paid less than men even the work is similar.

There are several sustainable strategies to improve the working conditions of the garment workers in Bangladesh are as under:

Use of energy-efficient sources: To enhance the working condition, it is important that worker get a proper physical environment that has proper ventilation system including effective lightening, pollution control device and so more. For better working condition, factories should use energy-efficient sources such as solar panels, LED lights, exhausted fans and so more, so that no adverse impact cause to employees health. In addition, for better working conditions factories must be constructed while using the sustainable materials like bamboo, wool and straw bales to keep the temperature of place stable. This sustainable strategy keeps the employees away from the mental pressure like frustration, stress and keeps their health better. This leads to improve the working condition.

Use of green products: For better working conditions of the garment employees, company should use eco-friendly materials such as organic cotton, linen as well as sustainable dies to declines the negative impact on the health of the employees. Dyes cause respiratory diseases to employees such as asthma, skin allergy, prickly eyes and so more. This sustainable practice protects the health of the employees

Flexible working hours: Working long time is not good, therefore flexible working hour is best strategy to provide better working conditions to employees. Company must provide garments workers one hour for lunch and rest as well as two paid leaves in a month so that employees can manage personal and professional life (Gangwani, Sharma and Sheikh, 2020).

Timely training and development: To enhance working condition, organization must furnish timely training opportunities to the workers of garment industry of the Bangladesh regarding using sustainable materials, process and methods during the production of the clothes. It is helpful in making employees more competent, skilled and confident while working in an ever-changing environment. These strategy not only educate employees about the sustainability but also motivate them to take active participation in green initiatives.

Therefore, above strategies are best to enhance working condition for garment employees of the Bangladesh.In organization, HR plays important role in managing people as well as driving sustainability within the organization. HR focuses on shaping sustainable practices within the work place. It is responsibility of the HR is to furnish better working condition to the employees so that they able to work with their full productivity to give their best within the organization. Role of HR includes aligning sustainability goals of the company with its workforce (Eyo-Udo, Odimarhaand Ejairu, 2024). For this, HR integrate sustainability criteria into the process of recruitment and ensure that new recruiters share organization commitment to social and environmental responsibility. In addition, HR build management strategy to retain employees who actively contributes to sustainable initiatives.

In addition, to drive sustainability within organization, it is important that employees are well-informed and remain engaged. HR plays a crucial role in foster a culture of sustainability by implementing training programs, communication workshops and campaigns. These educate employees about the sustainable practices but also aids in making organization working condition more positive and encouraging. In addition, for sustainability, the HR provides timely training to the employees regarding the use of new eco-friendly practices, methods and processes, so that each employee able to contribute their best within the organization. When employees know about using eco-friendly practices then it aids in driving sustainability within organization effectively as well as efficiently.
Apart from this, initiatives of HR emphasize on equity, diversity and inclusion effectively able to contribute the sustainability agenda. For this purpose, HR focuses on open and transparent communication where all employees able to share their ideas, opinions and feedback in the significant manner. Diverse and inclusive workplace culture, aids the business to leverage number of perspective to address the challenges of sustainability in effective manner. This role of HR not only drives sustainability but also aids in improve working conditions for the workers, results in greater productive employees, more revenue, profitability as well as competitive advantage in the dynamic and complex environment.

Strategies they have implemented to manage sustainability

At the time of collapse of the Rana Plaza, one of the brand that had orders with the organization is Primark.It is a fashion retailer, furnish affordable choices for everyone including men`s, women and kids.To manage sustainability, the organization uses several strategies within its business functions. It is as under:

Use of energy sources: The Company in its stores and warehouses effective use renewable energy sources such as solar panel, LED lights as well as artificial intelligence techniques to automatically off and on lights, to save the consumption (Piwowar‐Sulej, 2021). This strategy of Primark used in the 70% of the Primark stores, leads to decline carbon-emission in the significant manner.

Waste management: The operation department of the Primark use waste management strategy.The company focuses on managing waste within the organization by recycling the waste materials, therefore company use organic materials to manufacture its clothes, so that it can be easily recycled as well as produce less pollution or greenhouse gases. In addition, to manage waste company use AI to forecast demand of the clothes as well as identifying marketing trends, helps in produce quantity of good that able to meet the demand of the customers. It leads to decline the textile waste that in the end go to landfill.

Reduce water consumption: The fashion industry requires huge amount of water for production of clothes. Primark use water-saving techniques to decline consumption of water. For instance, company use recycled cotton for manufacturing clothes as it consume minimal water and have a less environmental impact.

Avoiding use of plastic: To maintain sustainability, Primark eliminate the use of single plastic within the business. The company for packaging of the products focuses on using paper bags, cardboards, recyclable PET and so more (Akadiri and Adebayo, 2022). It declines the use of non-degradable and non-recycle items, results in minimize environmental impacts.

Sustainable transportation: To manage sustainability as well as decline environmental impacts Primark use sustainable transportation vehicles such as electronic vehicles to transfer products from supplier to factory to retail as well as different stores. It aids in declines carbon emission as well as generation of pollution that cause because of greater transportation activities.

Sustainable material sourcing: Company focus on sustainability by purchasing sustainable materials for the production of their final product. Company collaborates with the suppliers who furnish raw materials like organic cotton, hemp and so more. In addition, company also ensure that the partners with company collaborate compliance with fair labor practices such as avoidance of child labor, fair-trade agreements and so more to conduct business in the socially ethical manner (Akter et al, 2022).

Therefore, all this strategies aids Primark to manage sustainability within its business functions.If the CEO of the Primark dealing with such a reputational crisis than it is important for the business to ensure that building constructed while compliance with the all rules and regulations related to the structure of the manufacturing building. It is crucial for the CEO to instruct the supervisor to restrict the manufacturing activities at the building, leads to essential to save life of the people. At that time, CEO must play a role of leader where the person should not provide the permission to start the manufacturing activities again.

Some of recommendations are as under:

• The company should construct the building according to the constructing guidelines for the manufacturing buildings.
• It is advised to the company to renovate the building after a set time, to maintain the strong foundation and avoiding life threatening events.
• It is recommended to the company to not use large power generation activities within the building as it is not good for the base of the building.

CONCLUSION

To sum up all, it is concluded that sustainability plays crucial role in reduce environmental impacts. The essay outlines sustainability issue of garment industry including greater carbon emission, textile waste, non-compliance with laws and so more as well as highlight high cost and lack of availability of sustainable materials as a challenge. Sustainability within supply chain reduces environmental impacts, enhance business operations and provide competitive advantage. It covered sustainable strategies to enhance working condition like use of energy –efficient source, green products, training and so more. It outlined that currently Primark use waste management, sustainable sourcing and energy-efficient sources to manage sustainability within business.

TASK 2- Introduction: Sustainability Challenges and Strategies in the Healthcare Industry

Sustainability is crucial within the business to meet needs of current generation without compromising requirements of future generation. The report outline the linkage between the business operations as well as societal and environmental challenges in regards to sustainability within healthcare industry. The report outline global warming, resource scarcity impacts as financial challenges for sustainable development within the industry. It will outline impact of sustainable regulation and code and importance of sustainability report of AstraZeneca.

Impacts of global warming, resource scarcity, population growth and loss of biodiversity on healthcare industry

Global warming defined as a situation of gradual increase in the atmosphere of the earth due to increase of certain gases. Global warming have a greater impact on the healthcare industry as it work as a barrier to health services as well as in providing quality services. This leads to greater financial losses for healthcare delivery system. Increasing global warming significantly lose access to the healthcare facilities leads to shortage in drugs due to the greater disruption of supply chains as a result healthcare industry face difficulty in provide services in the effective as well as efficient manner (Sodhi and Tang, 2021). Apart from this, global warming is a great reason for increasing diseases including infection spread, emergence of new diseases, increasing issue with the safety of drug use and so more, makes working of health care industry difficult.
Resource scarcity refers to lack of availability of the required resources to meet the needs of people within the healthcare industry. In healthcare industry, there are no availability of the enough resources to meet the needs of the people as a result several group of people not able to get health services appropriately. Apart from this in the views of () the main effect of resource scarcity is increase in the price of health services which leads to kept people left to get better services. Due to lack of resources in terms of medical equipments, safety tools, beds, medicines as well as human resources including doctors, medical staff, healthcare assistant cause a poor outcomes in critically ill patients leads to increase mortality rate. Resource scarcity unable the patients to get required healthcare services.

Population growth refers to the increase of number of individuals in a particular area. Population growth increases pressure on the healthcare industry as with the increase of population demand for more medical facilities, resources and care delivery increase. One of the main impacts of population growth on healthcare industry includes increasing demand within the industry. Greater population means greater needs for health related services as population growth results in higher spread of infectious diseases leads to greater pressure on healthcare services (Marron et al, 2020). In addition, due to the population growth, healthcare industry face significant capacity issue as there is sufficient resources available to meet the health needs. On the other hand, population growth has positive effect on healthcare industry according to the business perspective, this includes increase in profitability of the businesses within the industry. Greater population means greater requirement of services, demand for health services and medicines increase and leads to generation of greater profit margin.

Biodiversity refers to the variety of all living things as well as their interactions. Biodiversity loss explained as the loss of life on the Earth at different levels, including decline in the genetic diversity to the collapse of whole eco-system (Díaz and Malhi, 2022). In other words, loss of biodiversity means decline in the variety as well as richness of species, living things and ecosystem. Effects of loss of biodiversity include limiting discovery of possible treatments for several kinds of diseases as well as health problems. Biodiversity loss results in several climate changes that lead to increase different kind of diseases, which make difficult for the healthcare industry to deal with it. Further, biodiversity aids in maintain health of people as different kind of plants, fungi and animals use to produce medicines such as antibiotics, painkillers, vitamins and other medicines. The loss of biodiversity makes difficult for the healthcare industry to produce medicine to cope up with the different kind of new diseases related to the virus, infections and so more.

Thus, healthcare industry majorly impacted by the global warming, loss of diversity, population growth as well as resource scarcity.

Financing challenges for sustainable development

Financing challenges refers to difficulty in getting financial resources. One of main financing challenge in healthcare includes funding gaps. There is lack of availability of finance as a result the industry unable to do sustainable development. For use of renewable energy sources, infrastructure there is requirement of great level of investments, lack of availability of fund creates a challenge for the sustainable developments (Cleverley, Cleverley and Parks, 2023). In addition, some of financing challenges related to sustainable development includes corruption, fragile economy, budget constraints as well as poor political commitments towards the public health, due to this reasons the healthcare industry not able to get sufficient finance for the sustainable development. Effectively overcoming financial challenges aids the healthcare industry to decline environmental degradation, mitigate pollution as well as conserving the natural resources efficiently.

Thus to solve the financing challenge for sustainable development it is crucial that several stakeholders plays their roles in responsible manner including government, businesses, households, investors and so more. Some of recommendations are as under:

• To address financing challenges related to the sustainable development government should bear a higher risk related to the sustainable projects to effectively attract private investments. Government should offer loan guarantee, must provide insurance against certain risks as well focus on build public-private partnerships (Barua, 2020). This leads to aids in risk-sharing, makes sustainable project attractive as a result grabs attention of private investors. It leads to solve the challenge of finance for sustainable development, enable healthcare industry to furnish the services in sustainable manner.
• Healthcare industry is advised to take loans from the financial institution for the purpose of sustainable development to get sufficient finance. Bank loans enable the organization to get funds at minimal interest rate, leads to aids in effective investments in the sustainable development.
• In addition, to overcome financing challenge it is recommended that government should motivate private investment in sustainable projects, by furnishing subsidies, grants, tax breaks and so more. This leads to bring finance towards the healthcare industry, which aids in overcome financing challenges that is barrier to sustainable development.
• It is advised to healthcare industry to collaborate with private investors such as businesses or others to get sufficient funding to make investment in the sustainable development (Gambetta et al, 2021). Private investment aids in decline the financing challenge to a particular level.

Impact of sustainability on production & design in the healthcare industry

Implementing sustainability in the healthcare industry is crucial to minimize negative environmental impacts that cause due to the production and design of the health products like medical equipments, supplies as well as health related services. The sustainability have positive and negative impacts on production and design of the healthcare industry. One of the main influences of sustainability within the healthcare industry includes minimizing negative environmental impacts that are cause of production and design of healthcare products and services (Sherman et al, 2020). The use of energy efficient resources, disposable of medical equipments in sustainable way, sustainable procurement as well as waste management aids the healthcare industry to significantly mitigate negative environmental impacts and done operation in sustainable manner. However, the implementation of sustainability in production and design has several benefits but it leads to increase cost of business as sustainable resources are quite expensive makes difficult for the businesses in healthcare industry to maintain their profit margin as well as decline its cost of doing the business.

In addition, use of sustainability in production and design leads to innovation. For instance, various pharmaceutical companies, medical equipments manufactures as well as other business with the industry use recycled materials for packaging of the products, medicines and so more. It leads to positively save cost for the company that levied on waste management as well as aids in decline industry`s rate of carbon footprint as well as negative influence of packaging waste on the landfills (Ghobadian et al, 2020).

Sustainability within the healthcare industry aids in protects the biodiversity as the industry is one of the great reason of loss of biodiversity as wastage generate from this industry contain chemical and harmful gases which leads to climate change, global warming and so more. Use of sustainability initiatives within the industry aids in significantly and efficiently protects the environment. Further, use of sustainability in production and design within the healthcare industry leads to effectively contributes in greater healthier and more resilient future. Use of sustainability initiatives makes the healthcare industry more competitive as well as beneficial towards the environment.

There are various sustainability related challenges that makes difficult to operate business in sustainable manner. AstraZeneca a pharmaceutical organization within healthcare industry of UK use number of innovative business strategies that aids in significantly address the sustainability challenges. The organization is science –led as well as patient-focus Company that builds innovative medicines for millions of peoples worldwide. 

One of the sustainability related challenge faced is lack of finance for doing business in the sustainable manner as it requires large amount of investment. To conquer the challenge AstraZeneca use collaboration as a strategy. Company effectively collaborate with the big private investors, government as well as international bodies to get sufficient fund for funding its sustainable activities in the efficient manner, This strategy enable the organization to get enough amount of money to operate business in sustainable manner (Magnusson, Bohman and Bellgran, 2023).

Another sustainability challenge deal by the AstraZeneca includes high energy consumption, greater waste generation as well as greater water usage. To confront with the challenge AstraZeneca use innovative business strategy of Research& Development to searching for alternatives that aids in decline waste generation, energy-consumption as well as water usage. The organization use energy-efficient resources such as solar panels and wind power to decline dependence on non-renewable sources. In addition, for decline or dispose waste generation, the organization use high temperature and incineration facilities that equipped with sufficient emission controls. The R&D strategy aids the organization to search for new innovative ways to decline sustainable challenges within the business.

Influence of regulations & international codes on sustainability

In United Kingdom, The Environmental Act 2021, aids in bringing sustainability as well as in protecting the environment. The act sets target to enhance quality of air, water, biodiversity as well as reduce wastage (Palmer QC and Clarke QC, 2022). This regulation aids the different organization within the healthcare industry to improve their business operations to decline negative environmental impacts by taking corrective actions such as using emission control tools, energy-efficient resources, waste management techniques and so more. Further, regulations related to the healthcare industry significantly contribute in declining the rate of carbon emission.

The regulation restricts the organization of the healthcare industry to adhere the sustainable practices within the business. For instance, Healthcare Waste Legislation of UK make compulsory for the healthcare industry to manage and treated their waste in the sustainable manner to ensure sustainability within the environment. According to the Sustainable Health Code of Practice, it is duty of the organization working in the healthcare industry to act according to the long-term interest of the beneficiaries and considering environmental, social and economic issues effectively. This practice includes furnishing greater attention to the human physical, mental welfare as well as energy, waste, water and infrastructure for sustainability.

To influence the management to adopt the regulation and codes in the organization it is important to aware them with the issue regarding not using sustainable practices. Open and transparent communication is a best way to motivate the management to adopt sustainable regulations as well as international code within the AstraZeneca. For this, clearly communicate the benefits of adhering the regulation such as decline environmental impacts, reduce wastage, greenhouse emission as well as increase reputation in the industry. In addition, to influence the management effectively furnish examples of the company like Pfizer, Novartis and so more as well as use their sustainability report to ensure that adoption of the sustainable regulation and international code aids the companies to work in the sustainable manner and get competitive advantage in the dynamic industry.

In addition, clearly stating the benefits of using sustainable regulation and international code in the competitive environment, effectively motivate management to include sustainable practices within the organization. Implementation of this regulation aids the organization to works towards the promotion and protection of the environment from the polluted business operations in the effective as well as efficient manner.

Importance of sustainability reporting

Sustainability reporting refers to the document that represent sustainability data in a systematic manner so that it can be effectively compare with the past as well as progress relating to the selected target can be measured. Sustainability reports play a crucial role in effectively communicate the positive as well as negative impacts of the organizations actions on the environment, society as well as economy (Reid, Ringel and Pendleton, 2024). In other words, the main importance of the sustainable reporting includes furnishing transparent disclosure of the company`s sustainable performance. The sustainability report aids the organization to make rapid decisions as well as attract different stakeholders including customers, investors, suppliers and so more (Baumüller and Sopp, 2022)

Referring to the Sustainability report of the AstraZeneca it can be stated that company is placing more emphasis on creating healthy future for the people, planet as well as society. The sustainability strategy of company emphasize on main nine focus area including equitable access, affordability, health system resilience, zero carbon emission, product sustainability, natural safety, workforce safety, inclusion & diversity and ethical business. The sustainability report of AstraZeneca of financial year 2022-23 outlined that the company with its sustainable practices able to reduce greenhouse gas emission by 67.6% since 2015. Further, company reduces 19.5% water use as well as 13.2% wastage since 2015 with its sustainable measures in a significant way, able to effectively contribute SDG goals.

For effectively doing the business in sustainable manner AstraZeneca invested $33.7 million in energy–efficiency to effectively progress towards the set targets. In addition, company is committed to use 100% renewable energy sources to meets the requirements till 2025.

Sustainability target of the organization includes diversity and inclusion with aim to access gender equality in the management position by 2025. However the organization currently able to furnish 50.1% of senior middle management roles to the women’s (Sustainability Report, 2023). According to the sustainability report, AstraZeneca`s Ambition Zero Carbon Programe includes declining greenhouse gas emission by 98% from its global operations by 2026 but currently company progressing in this target but needs to decline its waste generation for effective attainment of the target.

Further, the sustainability report of the company describe that company target is decline 75% of the injury rate from 2015 to 2025, currently company able to decline total 59.6% injury rate.

CONCLUSION

To sum up it is concluded that sustainable practices promotes better environment. The report outlined that global warming leads to disrupt supply chin and resource scarcity makes difficult to meet customer needs. It is highlighted that Sustainable regulation like Environmental Act aids the organization to decline carbon emission effectively. Further, the sustainability report of AstraZeneca outlined that company effective use sustainable practices as a result able to attain its sustainable targets.

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Online

Sustainability Report. 2023. Online. Available through: < https://www.astrazeneca.com/content/dam/az/Sustainability/2024/pdf/Sustainability-Report-2023.pdf >