ASSIGNMENT COVER SHEET STUDENT DETAILS Student name: Trần Phước Minh Hiếu UNIT AND TUTORIAL DETAILS Unit name: Academic English Tutorial/Lectur e: Lecturer or Tutor name: Ryan Gabriel Student ID number: 22002465 Unit number: AEN-T122WSB-6 Monday 12:00 – Class day and time: 15:15 ASSIGNMENT DETAILS Title: Length : What are the impacts of sustainable materials on businesses and the environment? Due Date 1200 words date: 11th April 2022 submitted: 11th April 2022 DECLARATION x I hold a copy of this assignment if the original is lost or damaged I hereby certify that no part of this assignment or product has been copied from any other student’s work or from any other source except where due acknowledgement is made in the assignment I hereby certify that no part of this assignment or product has been submitted by me in another (previous or current) assessment, except where appropriately referenced, and with prior permission from the Lecturer / Tutor / Unit Coordinator for this unit No part of the assignment/product has been written/ produced for me by any other person except where collaboration has been authorised by the Lecturer / Tutor /Unit Coordinator concerned I am aware that this work may be reproduced and submitted to plagiarism detection software programs for the purpose of detecting possible plagiarism (which may retain a copy on its database for future plagiarism checking) Student’s signature: Tran Phuoc Minh Hieu Note: An examiner or lecturer / tutor has the right to not mark this assignment if the above declaration has not been signed In today’s civilization, materials have played a key role in many sectors of the world's economy as well as the future of the environment Sustainable materials are known as materials that can be made in required amounts without consuming non-renewable resources and are used by the industrial sector and consumers This essay will demonstrate how business, and the environment are well-linked Furthermore, the benefits and drawbacks of sustainable materials in terms of business and the environment will be thoroughly examined Throughout the article, the audience will gain a deeper understanding of how sustainable materials are a significant element of modern civilization To commence, business and investing requires an appropriate and safe institutional environment, which is one of the elements that offers an opportunity to expand business and increase companies’ profit The function is known as input-output conversion, that is archived through active interaction with the environment To be specific, it gains inputs from the environment, then transforms them through the production facility into outputs that are also gained from the environment, which then returns them back to the environment The function will constantly receive feedback from the environment to improve the enterprise performance According to a United State Environmental Protection Agency report (2009) the world population will potentially increase by 50%, which leads to 500% of the global economic activity also increasing, and increases 300% of the global energy and material use from 2000 to 2050 In addition, the heads of major research institutes in the United States, German, Japan, Austria, and the Netherlands (2000) have stated: “Unless economic growth can be dramatically decoupled from resource use and waste generation, environmental pressures will increase rapidly.” Therefore, there is no denying that business and environment have a significant interlink due to the fact that the rise of material used to develop a business can potentially cause many environmental effects On the other hand, utilizing sustainable materials is driven more attention by business as it can provide many positive outcomes With the growing popularity outlined previously, businesses must adapt to the idea of rapid development, which is to be able to compete with large corporations and grow as businesses Hence, the local entrepreneurs can positively receive support and recognition from the community by showing interest in using sustainable materials Moreover, many businesses decide to “go green” because the resource costs can be significantly cut to save more money While less of their income is used to protect the environment, the impact that helps improve the environment can be seen more quickly According to Littler (2003) “It is estimated that as much as 42% of customers in the U.S are willing to pay more for “green” products.” Besides that, the advantages of becoming more sustainable as a company are so compelling that 90% of CSOs (Chief Sustainability Officers) state sustainability is linked to corporate innovation and strategy Consequently, using sustainable materials offers many benefits for business such as gaining support and recognition as well as saving the money by reducing the inputs However, businesses need overcome numerous challenges of creating sustainable products in order to be successful in "becoming green" Initially, using sustainable materials could be costly for a business to deliver The conversion to solar electricity is a specific example for this demonstration due to the fact that it will necessitate the installation of solar panels at manufacturer facilities Going green can save money on energy However, the savings are not always enough to cover the initial conversion costs In addition to the mentioned point, switching to green materials may result in increased costs in the manufacturing process To be more explicit, a furniture maker who turns suppliers to obtain exclusively responsibly harvested wood will almost certainly have to pay a higher price The greater costs must either be passed on to customers in the form of higher pricing or come at the expense of the company in the form of a lower profit margin on its commodities Although businesses desire to buy ecologically and socially responsible products and services, finding sustainable sources is not always easy as well as comparing products is not always evident Decisions about sustainable sourcing may sometimes necessitate industry-specific expertise and procedures, or finance is not always readily available On the aspect of the environment, utilizing sustainable materials provides various environmental benefits, including cleaner water and air, the preservation of natural resources, and a reduction in the impact of global warming This benefits the environment by lowering pollution levels in the land, waterways, and air Fewer pollutants are emitted into the environment through using alternate sources of energy and avoiding the consumption of fossil fuels, recycling and decreasing waste, and driving more effectively According to a study conducted by the Environmental Protection Agency (2009), quality of air in the United States has been slowly improving, although around 127 million Americans still live in locations with potentially harmful levels of air pollution as of 2008 Moreover, reducing waste benefits the ecosystem by reducing the quantity of garbage that needs to be disposed, where it can biodegrade and emit carbon dioxide, which contributes to the greenhouse gas effects The Environmental Protection Agency (2009) also advocates recycling rather than burning waste, which releases dust and other potentially dangerous chemicals into the atmosphere Consequently, going green such as using sustainable materials provides multiple ecological benefits, which would include the sustainability of the environment, and a reduction in the effects of global climate change Contrarily, the principal causes of concern in an energy-dependent world are frequently related to human energy consumption Using sustainable materials such as carbon dioxide and other pollutants, which are released when hydrocarbons are burned to provide some of usable energy Furthermore, water scarcity, for example, might create severe supply chain delays and waste These negative impacts can result in a drop in income as well as a fall in the very well of the communities affected by the insufficiency Climate change can also reduce crop yields and cause price volatility in commodities Based on a CDP survey in 2016, which was created on behalf of 75 organizations with over trillion dollars of procurement spend, reports that 72 percent of 4,005 global suppliers indicated continuing to pose hazards to their operations and profits However, only around half of them have made sustainability a part of their corporate strategy As a result, while utilizing sustainable materials has numerous environmental benefits, there are challenges that businesses need to focus on in order to avoid environmental risks such as lack of green infrastructure, and requiring a high level of enthusiasm To summarize, sustainable materials have a significant impact on businesses since they enable them to achieve a competitive advantage, increasing the value of their organization However, going green might be costly for a company at first, perhaps leading to greater production costs In addition, using sustainable materials can help the environment by reducing pollutants in the land and water, as well as encouraging customers to reduce their consumption and reuse products in order to reduce waste As one of the disadvantages of sustainability, using sustainable materials like hydrocarbons has a detrimental influence on carbon dioxide and other pollutants emissions, which can potentially lead to price volatility in commodities REFERENCES From Agreement to Action: Mobilizing suppliers toward a climate resilient world Bsr.org (2016) Retrieved April 2022, from https://www.bsr.org/reports/BSR_CDP_Climate_Change_Supply_Chain_Report_2015_2016.pdf Haque, M (2012) Sustainable development and environment: a challenge to technology choice decision-making Retrieved April 2022, from https://www.tandfonline.com/doi/pdf/10.1080/02688867.1991.9726812 Kelchner, L (2022) What Is Sustainability and How Does It Keep Companies Competitive? Small Business - Chron.com Retrieved April 2022, from https://smallbusiness.chron.com/sustainabilitykeep-companies-competitive-25898.html Marketing, A (2020) What Is Sustainability Risk? | Avetta Avetta.com Retrieved April 2022, from https://www.avetta.com/blog/what-sustainability-risk Relationship between Environment and business Assignment Help Homework Help Online Tutor Help tutorhelpdesk (2022) Retrieved April 2022, from https://www.tutorhelpdesk.com/homeworkhelp/Management-/Relationship-Between-EnvironmentAnd-Business-Assignment-Help.html Sustainable Materials Management: The Road Ahead Epa.gov (2009) Retrieved April 2022, from https://www.epa.gov/sites/default/files/201508/documents/sustainable_materials_management_the_road_ahead.pdf Westman, M (2018) Positive Effects of Sustainability in Buisness Ecommons.udayton.edu Retrieved April 2022, from https://ecommons.udayton.edu/cgi/viewcontent.cgi? article=1001&context=undergradvoices What Are Sustainable Materials? | Center for Sustainable Materials Rutgers (2022) Retrieved April 2022, from http://sustain.rutgers.edu/what_are_sustainable_materials#:~:text=Sustainable %20materials%20are%20materials%20used,and%20key%20natural%20resource%20systems ... decision-making Retrieved April 2022, from https://www.tandfonline.com/doi/pdf/10.1080/0 268 8 867 .1991.97 268 12 Kelchner, L (2022) What Is Sustainability and How Does It Keep Companies Competitive?... toward a climate resilient world Bsr.org (20 16) Retrieved April 2022, from https://www.bsr.org/reports/BSR_CDP_Climate_Change_Supply_Chain_Report_2015_20 16. pdf Haque, M (2012) Sustainable development... without consuming non-renewable resources and are used by the industrial sector and consumers This essay will demonstrate how business, and the environment are well-linked Furthermore, the benefits