S U S TA I N A B I L I T Y Lighthouse Initiative
IRELAND’S GREEN Jessica Benson shares three positive trends that are helping Ireland deliver on sustainability goals – strategies organisations should consider taking on board.
Ireland is experiencing true green momentum. The Climate Action Plan 2021, Ireland’s all-of-government plan to tackle climate breakdown and achieve net-zero greenhouse gas emissions by 2050, is just one example of an initiative that is helping Ireland achieve its sustainability and green economy goals. In fact, Ireland ranks number 12 in the MIT Technology Review 2022 Green Future Index, a ranking of 76 leading countries and territories on their progress and commitment toward building a low carbon future. Here are three positive trends that are helping Ireland deliver on sustainability goals, all strategies that are worthwhile for organisations to consider employing.
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Make your business models circular Achieving a circular economy requires many things that are new; new ways of designing products, new manufacturing methods, new materials and new business models. Every company produces waste – it’s unavoidable – but if you can repurpose it, you help the environment and often achieve significant cost savings. Given that the future depends on improving the planet’s climate, you also may find yourself ahead of the curve when you go circular. 14
For instance, the Janssen Pharmaceutical Companies of Johnson & Johnson, located in Cork, this year gained recognition from the World Economic Forum (WEF) as one of only six sustainability lighthouses globally, a designation given to manufacturers considered to be factories of the future that have also achieved sustainabilit y and productivit y breakthroughs. For good reason: In recent years, the company has expanded the site’s footprint by 34 per cent to meet
growing business needs – but lowered carbon emission per kg of product by 56 per cent. The site recently announced an additional $158 million investment to expand the facility. There are ample examples of companies creating a circular economy in Ireland. Rent the Runway, located in Galway, has been working to minimise the environmental impacts of fast fashion, by allowing consumers to rent high-fashion, trendy clothes instead of buying them, which helps minimise wasteful consumption practices. By making better use of the resources we already have, companies in Ireland can significantly reduce the cost of doing business. It is estimated that annual savings of $2.4 billion are achievable by boosting Ireland’s circularity. By embracing a circular approach to business, we can achieve growth without degrading the environment.
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