“Going green” has become a buzz term that is frequently trending. However, there are also some real benefits to improving the sustainability and eco credentials of your business that can create some very tangible returns. The concept of “going green” is simply to identify ways in which a business can begin to reduce the impact that it has on the environment.
This could be something as simple as introducing a programme of recycling for the business, switching to greener products or seeking out more environmentally sustainable energy sources. There are lots of different ways for a company to go green and these are just some of the benefits of choosing to do it.
Meeting compliance requirements
As the world moves more towards trying to reduce environmental impact across the board, new standards are being introduced for businesses in terms of energy use, emissions etc. For companies considering going green this is an opportunity to ensure compliance while also reaping other benefits.
It’s worth noting that the penalties for failing to ensure compliance with environmental standards are likely to increase as measures become necessarily tighter. The UK regulator – the Environment Agency – is already policing requirements on issues such as waste disposal and reducing packaging. Companies that start going green now can get ahead of the curve.
66% of consumers will now pay more for sustainable products and services. There is a big shift taking place in the way that customers seek out brands they want to buy from – and how “green” they are has a significant part to play. This is especially so for millennials who are actively looking for brands they perceive to be more responsible and greener to buy from.
A marketing tool
Being a green business today can be a powerful marketing tool – but you have to be genuinely invested in this to be able to use it properly. Honda, for example, has created entire campaigns around being one of the greenest companies in the auto sector. Switching to more environmentally sound and sustainable methods and options has become almost a status symbol that can open doors for those enterprises that are really committed to it.
The impact on the bottom line
Greener businesses spend less, which is probably one of the most convincing reasons for many companies to start down a more sustainable route. For example, recycling and reusing can help to reduce spend on new products while more sustainable supplies are often cheaper to buy. Streamlining processes to make them more environmentally friendly also offers multiple opportunities to reduce waste and overspend.
Positive company culture
Many employees today actively want to work for brands that value eco credentials and knowing that an employer is greener can help to boost morale. Employees may be more engaged with, and committed to, a business that is taking steps to be greener and productivity and company culture receive a positivity boost as a result.
These are just some of the reasons why it makes sense for every business today to look into ways to go greener.