What is sustainable business

If you’re starting your sustainability journey, there are some key concepts you might want to know.

Circular economy

Circular economy relates to a product’s life cycle. Instead of a product being made, used and disposed of once, the product is used for as long as possible. Once it can no longer be used, the product is recycled and reused. Reducing waste in your supply chains may lead to cost savings.

An example of this is the ban on single-use plastic bags in New Zealand. Businesses now offer environmentally-friendly alternatives and customers are now encouraged to bring their own reusable bags.

Plastic bag ban(external link) — Ministry for the Environment

Triple bottom line

This is a way of looking at a business’s bottom line in three ways: financial, social and environmental. Having three ways of valuing a business gives your staff, customers and potential investors a more holistic view of how your business is performing.

Your business and the triple bottom line [PDF, 320KB](external link) — Ministry for the Environment