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MBN USA

November 01, 2024

SRMSDC's 2024 Gateway Business Conference set for Nov. 13-14

By Alvin-O Williams

Editor’s note: A circular economic development strategist, Alvin-O Williams is president and CEO, Southern Region Minority Supplier Development Council. Here, he examines the intersection of climate change, economics, diverse-supplier small-business utilization and the principles of diversity, equity and inclusion.

When the Southern Region Minority Supplier Development Council kicks off its 2024 Gateway Business Conference the event will be about changing mindsets. This year’s theme, “Business Sustainability: The Business of Tomorrow,” highlights the ever-growing importance of sustainable practices and circularity in today’s rapidly changing business and environmental landscape.

As climate change shifts from a mere discussion to an immediate and pressing reality, its impacts are increasingly felt across all aspects of life, fundamentally altering how we engage in recreation and conduct business. Climate change is not just an environmental issue — that is why this conference is about business sustainability, implementing solid practices to adapt and thrive for tomorrow.

The 2024 Gateway Business Conference is set for Nov. 13 and 14 at the renowned Birmingham Jefferson Convention Complex in Birmingham, Alabama, a venue known for its state-of-the-art facilities and vibrant atmosphere. It will address crucial issues by exposing students, teachers, business owners, corporate leaders, citizens and government officials to the challenges and opportunities associated with climate change.

Through workshops, discussions and collaborative projects, participants will explore innovative solutions to foster resilience and sustainability, equipping them with the knowledge and tools necessary for navigating this new era. By understanding climate change is a problem everyone must face together, they can create a more sustainable future for all.

Why business sustainability matters

Business sustainability refers to integrating environmental stewardship and socioeconomic equity into business operations, which is crucial for creating long-term value for all stakeholders involved. This concept extends beyond traditional corporate social responsibility (CSR) practices which often focus on charitable contributions or community engagement. Instead, business sustainability emphasizes an integrated approach to balance profit-making with ecological health and social well-being, creating a sustainable future for businesses and society.

In today’s rapidly evolving world, business sustainability is not merely a buzzword or a trendy idea; it has become essential for businesses to thrive and remain competitive. As consumers and companies become more environmentally conscious and socially aware of business practices’ impact on people, places and the environment, companies prioritizing business sustainability are more likely to attract loyal customers who prefer to support brands aligned with these trends and values. Moreover, these companies are better positioned to retain talented employees who are increasingly seeking workplaces that reflect their commitment to environmental and socioeconomic equity.

Additionally, sustainable practices can lead to significant cost reductions through improved resource efficiency and waste management. By adopting eco-friendly technologies and processes, businesses can lower operational costs while increasing efficiency. Furthermore, emphasizing sustainability helps organizations build resilience against external shocks — such as economic downturns, regulatory changes and disruptions caused by climate change.

Circularity: The foundation of business sustainability

At the heart of business sustainability lies circularity, a transformative approach emphasizing the importance of designing out waste and pollution, keeping products and materials in use, regenerating natural systems and driving environmental and socioeconomic equity throughout the supply chain. In stark contrast to the traditional linear economy — where resources are extracted, used and discarded — circularity encourages businesses to keep products and materials in use for as long as possible, ensuring that resources don’t end up in landfills prematurely.

Circularity aims to create a closed-loop system where resource allocations are continuously cycled and leveraged to develop optimal profitability and environmental and socioeconomic impact. Additionally, circularity advocates for the regeneration of natural systems, recognizing the interdependence of ecological health and socioeconomic practicality throughout all operations.

By embracing circularity, businesses can reduce their environmental impact and unlock new economic opportunities through innovation and collaboration. Organizations — for-profit and not-for-profit, along with government agencies — can operate more efficiently by optimizing the intentionality of the resource allocations. This approach encourages companies to rethink their traditional linear models of production and consumption, allowing them to find innovative ways to repurpose materials, products and services.

Why this topic and this conference matter

As more companies distance themselves from traditional diversity, equity and inclusion (DEI) practices due to potential legal challenges or public scrutiny, a new opportunity arises to adopt sustainable business practices. This strategy enables organizations to drive meaningful change. It promotes equitable practices that yield tangible benefits for all stakeholders, recognizing that through circular stratification, there may be greater emphasis on some resource allocations over others to reduce disparities or mitigate damage. This is the essence of intentionality — but with teeth.

By integrating business sustainability into core operations, companies can cultivate environments where employees feel valued and included; suppliers are identified and engaged equitably, helping to reduce social and economic disparities; and customers receive products that align with their values and current trends.

This comprehensive strategy fosters a culture of accountability. It paves the way for long-term sustainable success — balancing corporate achievements with a commitment to avoid the exploitation of individuals, communities and the environment.

The 2024 Gateway Business Conference presents a unique and invaluable platform for learning, networking and collaboration for nonprofits, students, business leaders, entrepreneurs, sustainability advocates, government officials and DEI and supplier-diversity professionals. Participants will be able to engage with thought leaders and industry experts, gaining a deeper understanding of the strategies needed to drive sustainable practices within their organizations. Moreover, the conference aims to empower participants by building awareness of tomorrow’s issues and educating them on how to adapt to dynamic changes to create a sustainable future. Networking opportunities abound, enabling attendees to connect with like-minded individuals and forge new relationships that can lead to impactful solutions and new success stories.

To learn more about — and to register for — the 2024 Gateway Business Conference, visit gatewaybusinessconnection.com.

Key features at the 2024 Gateway Business Conference

• Advocacy for business sustainability: The conference plays a significant role in promoting business sustainability and adopting circular business principles.

• Insights from key speakers: Attendees will gain valuable insights from experts at the forefront of sustainable business practices.

• Feasibility and benefits: The conference will highlight the successful integration of business sustainability into operations, highlighting the feasibility and benefits of such practices.

• Networking and collaboration: Attendees will have many opportunities to network, learn and collaborate — emphasizing the importance of collective action in advancing business sustainability and circularity.