What would you say to the proposition that your household could save up to US$200 a month? That’s the claim an Australian company made in 2015 — if householders introduced a recycling system for household water. Nexus eWater says their NEXheater harnesses the heat from household waste water to heat clean water. Their accompanying invention, called the NEXtreater, treats the greywater from showers and washing machines so that it becomes near‐potable and can be used for flushing toilets and irrigating lawns, with the added environmental benefit of reducing water use in homes by about a third.

The water is treated without using the traditional slow system that introduces bacteria to digest organic compounds. The new system employs a three‐step process where dirty water is injected with air, passed through a carbon filter and disinfected using ultraviolet light. The product is proving popular in the United States and potentially pays back the initial investment in under five years.

Such technological innovations offer hope for individuals and organisations who wish to reap the potential benefits from a sustainable approach to doing business. The imperatives for incorporating environmentally sustainable initiatives in business are no longer just altruistic, the drivers for sustainable business now include economic benefits that can be derived from using less water, less electricity obtained from fossil fuels, more recycling and the added benefit of some government sponsored incentives and discounts to encourage sustainable practices.

The trend towards greater sustainability in business is also providing opportunities for new start‐ups and for the development of new products and services. Nexus eWater has grown from one Canberra office in 2009, expanding to the United States with offices in Lancaster (California), San Diego and Huntsville (Alamaba) in 2015. Existing companies are also benefitting by diversifying into sustainable initiatives. Research on sustainability innovations indicate that between 2010 and 2013 revenues from sustainable products and services grew about six times the rate of overall revenues in premier companies. Sustainability in business has moved from a peripheral issue to a mainstream trend in business management.

QUESTION

Do you think it is possible for companies to be more profitable while taking a sustainable approach to business? In what kind of business might this be possible (e.g. household appliances), and what kind of business might it be close to impossible (e.g. mining)?