What is sustainability? Why should businesses care?
Sustainability is about creating a balance between environmental, social and economic concerns. It is about finding ways to do business that is good for the planet and its people.
However, do you ever feel like you are trying to run your business sustainably but need help knowing where to start?
You are not alone. A sustainability consultant can help you and your team make more sustainable choices and see sustainable development for your company. Here, we will define what a sustainability consultant is and why you might need one.
What Is a Sustainability Consultant and What Do They Do?
Sustainability consultants are professionals who help organisations operate more sustainably. In other words, they help businesses and organisations minimise their environmental impact. Sustainability consultants typically have a background in environmental science or engineering. They use this knowledge to advise organisations on reducing their greenhouse gas emissions, conserving water and energy and reducing waste.
In some cases, sustainability consultants also help organisations develop sustainable business practices. For example, they may advise businesses to source sustainable materials or implement policies that promote employee wellness. Ultimately, sustainability consultants play an important role in helping organisations operate sustainably.
Benefits of Hiring a Sustainability Consultant
Hiring a sustainability consultant can help you save money. They are experts at reducing waste, conserving energy and using resources more efficiently. They can also help you tap into new markets by helping you develop environmentally and socially responsible products and services.
Perhaps most importantly, they can help you build a better reputation with customers, employees and investors who are increasingly interested in doing business with companies that are committed to sustainable practices. So, hiring a sustainability consultant is a great place to start if you are looking for ways to make your business more sustainable.
How to Find the Right Sustainability Consultant For Your Business
Undoubtedly, a sustainability consultant can help you identify areas where your business can reduce its environmental impact, implement new sustainable practices and track your progress over time. However, with so many sustainability consultants, how do you know which is right for your business? Here are a few tips:
- What are your goals for sustainability? Do you want to reduce waste, increase recycling or implement energy-saving practices? Narrow your search to consultants who specialise in those areas.
- Next, check out the consultant’s credentials. What kind of training and experience do they have? Do they have any industry-specific certifications? The more experience and knowledge a consultant has, the better equipped they will be to help your business reach its sustainability goals.
- Finally, ask for references. Talk to other businesses that have worked with the consultant and see how satisfied they were with the results. A good consultant should be able to provide you with several references that you can contact.
Questions to Ask When Interviewing Sustainability Consultants
When it comes to sustainability, there are a lot of consulting firms out there vying for your business. However, how do you know which one is right for you?
Here are a few key questions to ask when interviewing sustainability consultants:
- What Experience Do You Have With Sustainable Initiatives?
The best sustainable consultants will have a wealth of experience working on various sustainable development projects. They should be able to share detailed case studies of their work and provide concrete examples of the results they have achieved.
- What Is Your Process For Assessing Sustainability Risks and Opportunities?
A good sustainability consultant will have a well-defined process for identifying risks and opportunities associated with your sustainable development and sustainability efforts. They should be able to share this process with you in detail and explain how they would apply it to your specific situation.
- What Are Your Credentials?
When it comes to sustainability, credentials are important. Ensure the consultant you are considering has the relevant certifications and accreditations from reputable organisations.
- What Is Your Fee Structure?
Be sure to inquire about the consultant’s fee structure upfront. Many consultants charge hourly rates, whilst others may charge a flat fee or a percentage of project costs. There is no right or wrong answer here, but knowing how the consultant will be compensated is important before moving forward.
- What Other Services Do You Offer?
Some sustainability consultants offer additional services, such as carbon footprinting or energy audits. Ask about these services during the initial consultation if you are interested in them.
What Is the Cost of Hiring a Sustainability Consultant?
The cost of hiring a sustainability consultant can vary depending on the size and scope of the project. However, the average cost for a full-time consultant is generally between $120,000 and $150,000 per year. This includes salary, benefits and overhead costs. Of course, there are also one-time costs associated with hiring a consultant, such as travel expenses and training fees. In addition, some consultants may require a retainer fee to secure their services.
How Madison Marcus Can Help You
If you are looking for help with your sustainability efforts, Madison Marcus can help. Madison Marcus is a sustainability consulting and law firm that can help your company achieve its sustainability goals.
At Madison Marcus, we provide a broad scope of services that benefit our clients. These services include advisory work, presentations to boards of directors on ESG-related topics, crafting governing policies, assisting with strategy formulation, advising on contractual agreements and indemnities and liaising with various regulatory organisations, such as the ABF, ASIC and ASX.
Our expertise includes the following:
- Modern slavery regulation compliance or reporting
- Cross-border sustainability compliance or reporting
- Human rights policies and due diligence
- Leadership and corporate governance
- Workplace policies and procedure
- Green bond issuances
- Greenwashing claims
- Renewable energy projects
- Sustainable project financing
- Directors’ duties and liabilities
- Board composition and policies
- Market disclosures
Our experienced sustainability specialists and consultants will work with you to develop a comprehensive sustainability plan to help you save money, boost efficiency and improve your bottom line. We can help you make your business more sustainable.
For all enquiries, contact us here.