SUSTAINABLE BUSINESS PRACTICES: A COMPARATIVE STUDY OF GREEN INITIATIVES IN COMMERCE

Abstract

This review paper undertakes a comprehensive examination of sustainable business practices with a particular focus on green initiatives in the field of commerce. In response to the escalating global environmental challenges, businesses are increasingly recognizing the imperative to adopt sustainable practices that balance economic growth with ecological responsibility. The study employs a comparative approach, analyzing and synthesizing the current state of green initiatives within the commerce sector across diverse industries and geographical locations. The review encompasses a systematic exploration of literature, encompassing academic journals, reports, and case studies from the past decade. The analysis considers various dimensions of sustainable business practices, such as environmental policies, energy efficiency, waste management, and corporate social responsibility. Additionally, attention is given to the challenges faced by businesses in implementing and sustaining green initiatives, shedding light on the barriers and facilitating factors that influence their success. Findings from the review reveal a growing trend in the adoption of sustainable business practices within the commerce sector, with an increasing number of organizations recognizing the long-term benefits of aligning their operations with environmentally friendly principles. The paper delineates the diverse strategies employed by businesses to integrate sustainability into their core operations and supply chains, showcasing innovative approaches and best practices. Furthermore, the comparative study elucidates regional variations in the implementation of green initiatives, acknowledging the influence of cultural, regulatory, and economic factors on sustainability practices. This analysis contributes to a nuanced understanding of the contextual nuances that shape the success or challenges faced by businesses in different parts of the world. The paper concludes by highlighting gaps in the current literature and proposing avenues for future research, emphasizing the need for a more nuanced understanding of the impact of sustainable business practices on organizational performance, stakeholder engagement, and long-term resilience. This comparative study seeks to inform both scholars and practitioners about the evolving landscape of sustainable commerce, encouraging ongoing discourse and collaborative efforts to propel the business sector towards a more sustainable and environmentally conscious future.
Keywords: Sustainable Business Practices, Green Initiatives, Commerce Sector, Comparative Study, Environmental Policies, Energy Efficiency, Waste Management, Corporate Social Responsibility, Business Sustainability, Sustainable Development.