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Success Tax Professionals Port Macquarie on Sustainability and Business

✦ Australia held a massive opinion poll on 21st May. This opinion poll showed that in large areas of Australia there are two issues that galvanised voters – climate change and integrity.

There is also another change that has been happening over the last 20 years or so. This is that as consumers of goods and services we are very specific in our demands and the technology is there so that our specific demands can be met.

Henry Ford is quoted as saying “Any customer can have a car painted any colour he wants, so long as it is black.”

Whatever we think about climate change and global warming or how as individuals we can change, the reality is that large numbers of Australians want action and want to see the businesses they use take action.

Woolworths and Coles said in the Australian Financial Review in 2021:

“Woolworths says it will deliver a 63 per cent reduction in emissions from its own operations (scope 1 and 2) by 2030 and a 19 per cent reduction across its supply chain (scope 3). Woolworths has also committed to source 100 per cent renewable electricity by 2025.”

“Coles Group has committed to achieve net-zero greenhouse gas emissions by 2050, to reduce combined scope 1 and 2 greenhouse gas emissions by more than 75 per cent by the end of 2029-30 (from a 2019-20 baseline), and to be powered by 100 per cent renewable electricity by the end of 2024-25.”

Aldi in Australia has reached its 100% renewable energy target ahead of schedule.

Traditionally, profit maximisation has been seen as the traditional role of companies. So major supermarkets have changed their view. My practical view is that these companies have all seen that their customers (the people they earn profits from) want reductions in greenhouse gases and reductions in other types of waste.

The BBC has an interesting article on how much of the world’s resources different countries use

The other major issue besides climate is integrity. So if as a business we say we are going to do something we need to do it.

Are there steps you can take in your business to improve sustainability?

Disclaimer: As always the advice in this article is general and you should seek advice from a professional advisor on your circumstances.

Contact John Clarke, Success Tax Professionals

a/ 5/124 Horton Street, Port Macquarie, NSW 2444, Australia

t/ 0481 039 851


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