How Sustainability Improves the Bottom Line

Sustainability is often perceived as a responsibility versus an efficiency or profit driver. In this talk, Stephanie Benedetto, CEO & Co-Founder of Queen of Raw, explores how sustainability can help generate profits and help reduce operating costs across your supply chains.

The talk covers:

1. Sustainability’s Economic Angle: Stephanie emphasizes the critical need for sustainability to make economic sense for businesses. She argues that for companies to adopt sustainable practices, there must be a clear benefit to both the bottom and top lines, framing sustainability as an opportunity for profit, not just an ethical choice.
2. Turning Supply Chain Challenges into Opportunities: The talk addresses the current global supply chain disruptions, including increased raw material costs and bottlenecks in ports, presenting sustainability as a solution to these issues. Stephanie highlights the potential of sustainable practices to transform these challenges into opportunities for efficiency and profit.
3. Waste as a Financial Liability: The staggering $288 billion value of unused fabrics and goods is highlighted as not just an environmental issue but a significant financial burden on companies. Stephanie makes a case for viewing waste management not just through an environmental lens but as a critical financial strategy to recover lost revenue and reduce costs.
4. Leveraging Technology for Sustainability: The presentation delves into the role of technology, such as blockchain and machine learning, in driving sustainable practices. Stephanie showcases how Queen of Raw utilizes these technologies to create an efficient marketplace for unused fabrics, thus facilitating a circular economy.
5. The Importance of Circular Economy Models: Stephanie stresses the economic viability of circular economy models, where materials are kept in use for as long as possible. This approach not only benefits the environment but also contributes to a company’s profitability by maximizing the value of materials.
6. Regulatory Changes and Legal Liability: The talk covers the evolving regulatory landscape around sustainability, including laws that mandate climate disclosure and impose fines for waste. Stephanie advises companies to proactively adopt sustainable practices to stay ahead of regulations and avoid potential liabilities.
7. Customer Demand for Sustainability: Finally, Stephanie touches on the growing consumer demand for sustainable products. She points out that modern consumers prefer products that are not only environmentally responsible but also offer value, highlighting the importance of sustainability in building brand loyalty and driving sales.