Analyzing Sustainable Business Practices Under Victoria's Act

This essay explores the concept of sustainability in Victoria, Australia, as defined by the Sustainability Victoria Act of 2005. The Act aims to promote environmental sustainability and engage both individuals and businesses in eco-friendly practices, addressing adverse climatic changes caused by unethical environmental activities. The government plays a crucial role by delegating agencies to guide communities in sustainable business operations and lifestyles. The initiative focuses on helping businesses reduce their environmental impact, capitalize on opportunities, and increase efficiency by monitoring resource usage, energy consumption, waste generation, and product life cycle management. Implementing these practices can lead to reduced expenses, increased operational efficiency, and contribution to the strategic goal of sustainability as outlined in the Act.

Running head: SUSTAINABLE BUSINESS
Sustainable Business
Name of the Student
Name of the University
Author Notes:

1SUSTAINABLE BUSINESS
Sustainability in Victoria
Under the Sustainability Victoria Act that was established in 2005, the Australian
state of Victoria aligned itself with the initiative of environmental Sustainability (Coffey,
2019). The prime objective sustainability in Victoria is promote sustainability and engage
people and businesses in acts of environmental sustainability (Sustainability.vic.gov.au,
2019). It is an initiative that is said to empower the citizen of the state to lead sustainable
lives through responsibility. The reason behind the initiative can be interpreted as the adverse
climatic changes. The latter has been caused by the regular activities that can be deemed to be
unethical for the biotic components of the environment.
The aim of sustainability in Victoria is to engage communities in sustainable activities
through with which they can collaborate and make contributions to environmental activities.
The role of the government of Australia is huge in the initiative. They have delegated
agencies to guide communities in issues such as environmental sustainability in business
operations and ways to lead sustainable lives overall. The initiative is favourably funded and
the government has participated efficiently in helping the people in gaining awareness about
issues such as use the use of compost, sustainable homes and many more sustainable issues
that will help coastal state avoid catastrophic environmental implications in the future.
Sustainability in Business
Through the initiative, the government has spread ideas regarding methods and
strategies that the businesses can employ to stay ahead of their competitors while carrying
operations that are favourable for the sustainability of the environment. The initiative of the
movement is to help businesses identify ways in which they can reduce adverse effects that
are caused to the environment (Sustainability.vic.gov.au, 2019).

2SUSTAINABLE BUSINESS
The main objectives of the sustainable business initiatives in Victoria are to help
businesses to capitalise on opportunities and increase the efficiency of their businesses
(Sustainability.vic.gov.au, 2019). The materials that are used in business operations, the
amount of energy that businesses use, the amount of waste that is generated by businesses,
the management of product life cycles and optimisation of processes in the businesses are
closely monitored by the sustainability initiative. It can be said that, if organisations
implement the aforementioned factors in their regular operations, they will be able to reduce
expenses that they would have otherwise invested in the business (Vovchenko et al., 2015).
They organisations would also be able to increase the efficiency of their operations and
contribute the initiative of sustainability that has been laid down as per the Sustainable
Victoria Act 2005. Implementation of the same would imply that wastage is minimised and
the strategic goal of sustainability is achieved.

3SUSTAINABLE BUSINESS
REFERENCES
Coffey, B. (2013). Strategic policy, planning and assessment for sustainability: insights from
Victoria, Australia. Sustainability Accounting, Management and Policy Journal, 4(1),
56-74.
Sustainability.vic.gov.au. (2019). Efficient business operations. Retrieved from
https://www.sustainability.vic.gov.au/Business/Efficient-business-operations
Sustainability.vic.gov.au. (2019). Sustainability Victoria. Retrieved from
https://www.sustainability.vic.gov.au/
Vovchenko, N. G., Ivanova, O. B., Kostoglodova, E. D., & Romanova, T. F. (2015).
Institutional aspects of provision of sustainability of budget system of the Russian
Federation. Asian Social Science, 11(20), 235.