Going green is not only good for the environment. It can also be good for business. Establishing more eco-friendly practices can offer a number of commercially wise advantages, from bottom-line cost savings to an outstanding market advantage. Consider these ten benefits of going green, and see how efforts toward sustainability can help boost business.
#1 Reduce Waste and Decrease Costs
By reducing your energy usage, you’ll ultimately save on resources and associated costs which will improve the overall efficiency of your business operations. Try turning off unneeded lights at the office to reduce monthly bills and printing on both sides to save on paper expenses.
#2 Earn Eco-friendly Incentives and Rebates
Earn special rebates and incentives for your green efforts. In 2009, the federal government established a stimulus plan to encourage businesses to go green by providing incentives through tax credits. From federal tax credits for energy efficiency to incentives from energy companies and other corporations, there are a number of avenues to help you save while going “green.”
#3 Attract “Green” Customers
Tailoring your brand to fit within sustainable ideals is a smart way to attract eco-conscious consumers. This new economy of “green” consumers creates boundless opportunities for innovation and authenticity. Studies show that businesses who regard the environment garner higher consumer attraction and lasting loyalty.
#4 Improve Your Brand Image
#5 Increase Sales Through Innovation
Create new products that are innovative and environmentally friendly to increase sales and profits. Patagonia’s Footprint Chronicle is a great example of how a business used its environmental ethic to examine its business habits and provide customers with genuine transparency. Savvy consumers like to know where their purchasing power is being invested, so get creative in how you approach your company’s ethic of sustainability.
#6 Avoid Added Costs
Every year, new legislation raises the standards for corporations and businesses to be more sustainable in their operations. Being proactive in establishing a “green” business will not only help improve your brand image and attract the ever-growing market of environmentally minded consumers, it will also help you avoid the added costs that accompany unsustainable and wasteful habits.
#7 Promote a Healthier, Safer Workplace
Establishing your company’s sustainability goals will help achieve efficient operations, be more innovative in your work, improve lives and enrich your local community. By striving for collaboration, you will take into account environmental and social challenges that will ultimately help your business become a force for good. You may even want to consider establishing a rewards program for employees who demonstrate sustainable lifestyle choices such as biking to work.
#8 Establish Community Relationships
Building corporate responsibility and ethical leadership into business plans can help establish vital community relationships and strengthen local bonds. Take, for instance, Panera’s initiation of Panera Cares, a pay-what-you-can community cafe concept to help serve the poor. Reaching out to those in need in your local community will improve your image, ensure your employees can trust their work establishment and ultimately make your part of the world a better place.
#9 Increase Productivity
Even miniscule improvements in efficiency can improve the overall productivity of business operations, and ultimately result in enormous savings. If you operate a large fleet of vehicles, initiate hyper-efficient business practices similar to those adopted by U.P.S. in regards to their packaging and sorting of cargo, mapping out of delivery routes and limitation on the number of left-hand turns drivers could make to avoid idling engines and wasted time. The company was able to shave cut nearly 30 million miles off delivery routes within the span of one year, resulting in savings of almost three million gallons of gas and 31,000 metric tons of CO2 emissions.
#10 Reduced Costs With Efficient Technology
There are a number of efficient technology alternatives that will help you reduce energy usage at work and save you in monthly bills. Consider installing a Nest thermostat to fit your unique workplace needs and avoid driving up energy costs. For exit signs, use LED rather than incandescent or fluorescent bulbs, and install occupancy sensors for lighting. Also, be sure to replace your HVAC filters to save energy and prolong your system’s lifespan. Stay up-to-date on all the latest eco-friendly gadgets.
For more tips and ways to save, download an eco app on your phone or tablet. There are many components to running a successful company, but in today’s world, an essential part of that is the embodiment of a green business ethic.
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