Producing things that don't harm the environment through green marketing helps businesses gain credibility, reach a new audience, and stand out from the competition as more and more consumers become environmentally aware. Sustainable development is the only option. However,many businesses are convinced that if they become more environmental friendly, their ability to compete would suffer. They think it will increase expenses and have no immediate financial advantages. When we talk about sustainable practice in a company, it can normally be classified in three categories:

• Viewing compliance as an opportunity

Any business must follow the rules and laws of the nation in which it operates as its first action. Every nation, or even every state, has its own set of rules and laws pertaining to how businesses are run. Businesses with a strong emphasis on social responsibility and sustainability are more competitive than others.

• Making Value Chains Sustainable

Companies become more pro-active about environmental issues after they discover how to stay up with rules and legislation. Companies are now concentrating on lowering carbon emissions that occur during product manufacturing or transportation, becoming less reliant on non-renewable resources like coal and petroleum, and choosing greener methods like generating power from solar energy or emphasising paper and jute bags rather than plastic or glass. Allowing employees to work from home is another strategy thatbusinesses have recently begun to implement. This saves both the employee's time and resources associated with travel as well as those of the employer.

• Developing sustainable products and services

Businesses have begun to recognise that many customers prefer eco-friendly items, and in order to lead the market, they must be the first to redesign their products in a way that appeals to customers while also being environmental friendly. Without going too far, even online retailers like Myntra have created their own line of eco-friendly fashion items under the name Roadster. Businesses must be aware of consumer concerns, respond to them and assess the product life cycles of their portfolio.

Though every company is on a path to become and practice sustainability now, it does pose some challenges to the enterprise:

• A firm requires skill to work with other firms including rivals to implement the creative solutions along with ensuring adherence to the norms and policies.
• In order to be efficient, firms need to be expert in techniques such as carbon management and life-cycle assessment.
• The management should also know how to scale the suppliers and the operations for manufacturing greener product.

The majority of businesses are aware that they must offer greener products if not for competitive advantage, then at the very least to survive in a cut-throat market. Companies might assess the items in their portfolios, redesign their offerings, or purchase another company's brand, like Loreal and Unilever did with The Body Shop and Ben & Jerry's, respectively. Few businesses create things from scratch, as a brand called Clorox did when itcreated its green products. The phrase "architecting your products"refers to this tactic.

How can a company gain competitive advantage on a warming planet?

Everyone will experience the effects of climate change,regardless of whether their company is in a clean industry like "investment banking" or one with lots of "smokestacks". However, a lot of marketing companies in the US and Europe are concentrating on something called Environment, Social,and Governance and giving the shareholders, investors, and employees of the company first priority. ESG is becoming increasingly relevant across India as a result of the government's environmental policy. In essence, there are ways for a business to stay competitive and advertise its goods while still taking environmental concerns into account:

• Quantifying the Carbon Footprint

Creating an inventory that accurately and fairly represents the greenhouse gas emissions of the company. By calculating the carbon footprint, investors, customers, and employees are informed that climate change is properly taken into account while creating a product.

• Assessing the carbon-related risks and opportunities

While developing prospects and innovations for a product,factors like regulatory, supply chain, product and technology, or litigation and reputation, need to be evaluated.

• Developing new Businesses

Based on the assessment of how climate change will affect the brand, developing and implementing strategies for reducing energy consumption and carbon emission will seize new opportunities for brands.

A trend that has gained particular prominence in the contemporary market is green marketing. This idea has made it possible to re-market and package existing products that already follow these rules.Additionally, the growth of green marketing has provided businesses with the chance to co-brand their goods under several product lines, praising some for their eco-friendliness while disregarding others. These marketing strategies will be clarified as a direct outcome of consumer market movement. Green marketing entails creating and promoting goods and services that meet customers' demands for convenience, affordability, performance, and quality while having minimal negative effects on the environment. Because of this, a firm must invest in environmental friendly methods in order to not only obtain a competitive edge but also to become the top choice of its customersand foster greater brand loyalty.