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Unilever is primarily concerned with new approaches and techniques for environmental sustainability. The firms follow the circular economy approach by reducing waste(Bhattacharya and Polman, 2017). In addition, the firm has a sustainable and environmentally friendly strategy, which strives to create and implement organizational reforms favorable to long-term sustainability(Unilever, 2021). The project primarily concentrates on decreasing its environmental impacts as well as boosting its social impact. For example, in 2019, the Company launched an initiative to help a billion people improve his/her health and wellness.
Furthermore, the firm intends to lessen using the plastic product for product packaging, which damage the habitats of human beings and creatures. Because of this effort, they would like to minimize the environmental effect by recycling the plastic packaging they produce. Their objectives are to halve the virgin plastic usage and recycle 1million tonnes of plastic for use by 2025. Unilever makes sure that their plastic packaging needs to be developed to use 100 percent plastic reused, indicating that the Company follows the natural capital model amongst five models to decrease pollution.
Knowledge is an asset for human capital, so it improves the quality of life for individuals. As per the corporation, over million teas brew every ten minutes. This implies that more than a million small farmers and distributors worldwide rely on us for their livelihoods because of this(Weybrecht, 2017). In addition, they are buying fruits and vegetables from around five hundred suppliers who turn in buy from numbers of growers and farmers. In this way, the Company achieves human and social capital.
Unilever is in its fifth year of working better as a sustainable living brand. Brands’ goals of halve environmental footprint and positive social impacts for moving towards social living brands(Alberti and Varon Garrido, 2017). In other words, half of the revenue comes from sustainable living brands, which are growing twice as fast as traditional brands. Data gathered by the organization has led to roughly 28 environmentally friendly living products brands, including Close Up, Bango, more. Also, the Company has 8 B-crop certified brands that achieved the highest environmental and social performance standards like T2, Olly Nutrition, and Sir Kensington’s, Sundial(Tea brand T2 becomes Unilever’s eighth certified B Corp, 2020). The firm stated that the sustainable living brands expanded 69% faster than the rest and contributed 75% to company growth.
The following instances demonstrate that the firm adheres to the model:
On page 14th, the Company reports 420 liters of water per bottle saved by introducing a “no-rinse” conditioner that helps make eco-friendly products.
According to the firm’s report on pages 22nd,19th, 18th, agricultural raw materials accounted for 62% of the Company’s sustainability, a 14-percent increase over 2010. In addition, the corporation is the largest source of palm oil, both directly and indirectly. This resulted in an increase in income for 793,000 farmers because of improved farming practices.
The 19th page of the report indicated that manufacturing capital, 100% renewable grid electricity across five continent sites inside those 20 countries, is utilizing solar power for manufacturing. (Murphy and Murphy, 2018).
Page 19th, Company also achieved natural capital by reducing overall waste footprint per user by 32 percent and achieving zero waste to landfill in every manufacturing site via better design with recycling technology.
18th page Unilever health and safety initiatives such as sanitation, dental health, drinkable water, and many more reach roughly 1.3 billion users. Alone, lifebuoy had achieved almost 1 billion individuals for hand washing, including 587 through television.
Page 17th & 22nd, Company, made progress this social model by allowing 2.34 million women to access programmed that improve women protection, talents, and aspirations. They pushed for gender equality in the workplace, with 51% of women in managerial positions.