Happy New Year! Hello, 2023! Every year I always take time to reflect…
Creating Sustainable Products: The Cost
Sustainable product development is a team sport; manufacturers and inventors need customers’ support to help drive production costs by creating an environment where proven eco-friendly products can be mass-produced.
Sustainable Product Development
Sustainability in the marine industry has become an increasingly important topic in recent years as the impact of human activity on the world’s oceans has become more apparent. As we move through 2023, the demand, or as some may feel, the race for businesses and industries to produce sustainable solutions in the marketplace, is on. However, as we seek to reduce our carbon footprint and to do a better job of protecting our ocean ecosystems, with these solutions, as in many times of great change, industries are met with significant roadblocks.
One of the biggest challenges in achieving sustainability in the marine industry is the complexity of the industry itself. It encompasses a wide range of sectors, including shipping, cruise, transportation, workboats, ports, and offshore oil and gas exploration, all of which have the potential to impact the environment significantly in their way. With so many stakeholders with varied priorities and interests in consideration, the industry must come together to face the challenges and promote sustainability across the board.
Over the last few years, many industry organizations and governing bodies have been working hard to develop comprehensive and coordinated regulatory frameworks, providing incentives and support for companies to adopt sustainable practices. However, industry stakeholders must continue to create voluntary standards and guidelines and, where possible, provide funding and technical support for companies investing in sustainable technologies to keep moving forward to a more sustainable future.
Financial Resources + Investment
Unfortunately, significant financial and resource investment is vital in driving this change. As with many new products entering the market, they tend to be more expensive initially than their established counterpart due to many contributing factors. They are typically sold in smaller quantities until the product is accepted into the mainstream product offering. Manufacturing smaller quantities of a product make it difficult for manufacturers to achieve economies of scale, which can help to reduce production costs. Creating sustainable products involves a more complex and expensive manufacturing process. Sustainable products cost more than traditional products because the raw materials, usually in the early stages of development and bringing to market, are more expensive. Additionally, many sustainable products use non-toxic, biodegradable, or recyclable substances, which, as we stand in 2023, are still sold at a premium cost to their original counterpart.
The need for rigorous testing and subsequent certification also contributes to the higher cost of sustainable products. Products must be certified to meet environmental and safety standards, as the goal is to provide a better environmental product than what is in the market today. In receiving certification, the business must invest in research and development, which generally involves rigorous testing by independent scientists, trial and error, inspections, and many unknowns that increase prices. But these certifications give consumers peace of mind, showing that they have chosen an ethical and sustainable product that performs as advertised.
Challenges + Considerations
For companies in the marine industry, such as ours, there are additional considerations when creating sustainable products. We must meet SOLAS safety standards and work towards a lead-free RoHS compliance, use recyclable packaging, follow green policies such as renewable energy, and others. Following these practices can be more expensive because they adhere to the highest standards, and sustainability requires companies to stand out as the minority in quality control.
Despite these challenges, EMCS Industries Ltd remains committed to creating sustainable antifouling products, as it is essential for the environment, our customers, the future of our business, and the blue economy. We have established a research and development program with sustainable goals that will help to protect the ocean ecosystems and reduce vessel energy consumption and noise pollution. And are also committed to educating our customers about these products, and their positive impacts, as early adopters of new technologies are the key to making the change. We are always looking for ways to decrease the cost of our sustainable products, but one of the simplest ways to do this is to increase demand.
Consumers and industry leaders are crucial in driving demand for sustainable products. By supporting and endorsing more eco-friendly alternatives, we can help to create a market for these products and drive down their cost over time. We understand that switching to sustainable products can be challenging, especially if they cost more than traditional alternatives. But the benefits for the environment and our future are worth the investment.
The Future of Sustainable Products
In conclusion, sustainability in the marine industry requires the vision, cooperation, and collaboration of all stakeholders, including governments and industry. There are too many benefits, including protecting marine ecosystems and long-term cost savings for the industry in the future. By adopting sustainable products and practices, as an industry, we can ensure a more sustainable future for our oceans and the communities that depend on them, like our home base here on Vancouver Island.
Want to know more about our Research and Development visit HERE.
Want to know about our sustainable antifouling solution: MARELCO™ WAVE