Apart from it being extremely important in our world today, going green can be highly beneficial for your business and personal life as well. By definition, this means gathering knowledge and practices which can lead to an environmentally friendly and ecologically responsible lifestyle. Our planet’s current state requires us to strive to sustain its natural resources for current and future generations. Actions towards this joint goal aren’t only helpful in your personal life, but in your business as well. Going green can make your brand more desirable, it can help you save a lot of money, and it creates a healthier environment for you and your employees. Cutting back on plastic and other wasteful materials can make a huge difference in the long run.
Going green on a personal level is well known in most households. Saving energy, going digital, reusing and recycling, and everything in between is a great way to take your positive environmental impact to the next level. But these simple steps can help raise the quality and even value of any company too.
Competitive Advantages
It is a fact that consumers all around the world will more likely give money to companies that are greener than their competition. In fact, among Generation Z and Millennial consumers, it is said that they prioritize the ethics of a company over anything else. This means that they’d rather spend twice as much in a much smaller business if they’re environmentally friendly and otherwise transparent. This is an opportunity all companies should take advantage of. You can save money while gaining customers at the same time.
Investment Opportunities
Strong sustainability initiatives can increase revenue in the long run. More and more financial and investment analysts have recognized that considering sustainability plans for energy efficiency and a more environmentally friendly attitude are very important when evaluating a business. A Goldman Sachs study even demonstrates that companies that are leaders in environmental, social, and governance policies have outperformed the general stock. Taking all this into consideration, going green in every respect not only means doing something for the planet, but it actually raises the value and income of your company.
Preparedness
Due to the constant change of our planet and economy, businesses in all industries must be prepared for what the near future will hold. More and more people believe that being prepared for tighter environmental regulations is a must for any company. Companies all around the world are either already, or soon will be legally required to reduce carbon emission by 25%, which while seemingly not a lot, is still a huge number for high-end companies. It is also said that this figure can rise to anything between 50-80% by the year 2050. This not only means that companies must be prepared for this “limitation” but also, the availability and cost of energy will both be affected within the next 5-10 years.
Attracting Quality Candidates
It’s common knowledge that thankfully, people increasingly opt to work for companies that are “doing the right thing”. When looking for any type of position, people like being associated with companies that are on the right side of history. According to most studies, over 50% of employed people feel that companies should become more environmentally aware. This sustainability factor has become a huge part of determining how ethical a company’s employees are.
A Healthier Environment
Increasing your sustainability and going green will not only mean that you’re planet-friendly, but that you’re people-friendly too. Natural, eco-friendly cleaning products, and plant-based, 100% biodegradable materials for instance contain no hazardous or artificial chemicals whatsoever. These chemicals, in the cleaning products, the air conditioner, and on every surface of the office can be very unhealthy in the long run for every employee. Eliminating or replacing these can result in happier, healthier staff.
Small Gestures Go a Long Way
A lot of hotels, salons, and even restaurants prefer spending more time on cleaning and changing cloth towels in the restrooms rather than keeping paper towels on hand. The wasteful use of paper towels isn’t just bad for the planet, but costly for the company as well, as in the long run, it costs way more than washing normal towels. Plenty of places put out 30-50 small cloth towels at a time, allowing customers to throw one in the “laundry basket” just after one use.
Another great example is that small clothing lines accept clothing items for reuse, meaning that people don’t throw away their clothes, and as a bonus, these companies get extra materials for a fraction of the price. Cutting back on plastic is also a common action when it comes to going green. This can be anything from packaging to plastic cups, and everything in between. Places that need to stay incredibly hygienic (like doctor’s offices), and places where they can’t manage without plastic cups (like huge arenas, buildings, or waiting rooms) can still easily swap these plastic items for reusable or biodegradable materials. This goes for cups, straws, lids, etc. Businesses may also invest in commercial recycling containers to enforce their recycling programs.
The question of going green and sustainability in a while isn’t only a matter of preference or good PR. The public’s opinion on the matter has evolved greatly, and they demand a more ethical way of thinking from all companies around the world. Moreover, the vast changes in government legislation also mean that sustainability is becoming a defining factor in any business’ commercial value and viability. Businesses everywhere are weighing their options, gathering the pros and cons, and most of them get to the same result in the end: going green will soon be a requirement both from the public and from the government, but at the same time, it is a great investment in the company’s future. So why not start now?