What are the benefits of a Life Cycle Assessment?

As environmental concerns continue to increase in importance for consumers and the global community, businesses are looking to Life Cycle Assessments (LCAs) in order to understand how their business can benchmark and improve its environmental performance.

✅What are the benefits of Life Cycle Assessments (LCAs) to your business?
A life cycle assessment allows businesses to understand how to improve the sustainability of its products. It is the only internationally recognised way to determine the improvements that need to be made to your business in order for your company to have a viable sustainability plan.
So, what are these benefits?
1. Product environmental impact: this enables a business to verify the environmental impact of a given product they may be selling. A LCA report will assist you in working out the parts of the supply chain in your product’s production which will most greatly impact on the environment.
2. Compliance with environmental laws: For example, some nations may have environmental laws that mandate how a certain product should be produced, and if that product is not produced in a certain way, then it attracts fines. A LCA ensures your product complies with the laws of a given country.
3. Resource efficiency and waste reduction: A LCA Report does not just inform you of the harm that the production of certain products or operations may have, it is also about providing initiatives on how to reduce your energy consumption and make sustainable enhancements to your business. A LCA Report will highlight areas where energy can be reduced and improvement strategies for your business can be implemented.
4. Supply chain evaluation: A huge advantage of a LCA Report is that the Report will analyse the production and supply chain. It is important to understand the environmental impact of your product suppliers, and the life cycle of the different products used in order to produce the final product.
5. Corporate social responsibility: Undergoing a life cycle assessment highlights your companies’ commitment to corporate social responsibility and ensures that your audience understands that you are environmentally conscious, and thus, conduct a sustainable business.
✅There are many businesses that are becoming aware of the benefits of LCAs for their sustainability plans in the future.

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Sources:

BM Magazine:

https://bmmagazine.co.uk/business/what-are-the-benefits-of-life-cycle-assessment-for-your-company/