Track: Sustainability and Green Systems

Abstract

A business practice that is economically viable, socially responsible and environmentally friendly is usually regarded as being sustainable. Corporations that include socially responsible and environmentally sound policies as core elements in their growth strategy very often create sustainable economic values. In the Philippines, thru the Department of Trade and Industry, the promotion of Green Economic Development (GED) aims to propel Micro, Small and Medium Enterprises (MSMEs) and government institutions to increase its sustainability initiatives with priority in environmental performance relative to economic development. Interventions to make their business more environment-friendly and climate-smart, namely: information and awareness; green service facilitation; and green framework conditions were analyzed of its significance and interrelationships to the intention Recycled Paper-Based Producers in the Philippines to adopt sustainable business practices. The Structural Equation Modeling (SEM) approach was used with a survey of the top 50% players of said industry resulting in a platform model of sustainability with GED interventions influencing many of the companies’ thrust to institutionalize sustainable business practices of equipping employees with knowledge of green manufacturing, providing renewable resources and green process capability, and enhancing value through cost-efficiencies in the use and reuse of materials and energy.