Did you know that an eco-friendly business could mean a more profitable business? Huge companies like Tesco, Unilever and Toyota are making a commitment to be greener as they have realised that being an environmentally-friendly business can actually have an impact on their profitability. Win-win!
Here’s a closer look at how your business can benefit from going green and the easy ways that you can do be more environmentally-friendly.
The Benefits of Going Green
In such a competitive market, many businesses want to set themselves apart from their rivals, which is what a green agenda can do. A recent study on corporate social responsibility showed that:
- 51% of consumers would buy lower quality products if the business was more socially or environmentally responsible.
- 93% of consumers have a more positive image of companies who support environmental issues, with 90% saying they would be more likely to trust them.
- 88% would stay loyal to an eco-friendly company and continue buying products from them.
Clearly then, social and environmental policies cannot be ignored by companies who want to be successful as it’s high up on the consumer’s agenda when deciding who to do business with. So, how can your business adopt more green practices?
How to Be More Eco-Friendly
You should take a closer look to see if there’s any inefficiencies in your supply chain. For example, if you find that your delivery service is not eco-friendly, then you could switch to a greener delivery service, like FedEx and TNT. They have estimated that they avoided 1.68 million tons of CO2 in fiscal year 2016 due to their environmental initiatives.
Also, you could consider powering your office with alternative energies, such as wind power, solar power or geothermal power. Check with your current utility provider as you may be able to sign up to receive green power.
There are even ways where you can be environmentally-friendly whilst saving your business money, such as:
- Lower utility costs when you switch to energy-efficient rated fixtures, such as LED light bulbs. Also, making sure all your electrical equipment is switched off on a night, rather than leaving it on standby, can make a big difference.
- Encouraging carpooling or cycling to work with incentives.
- Cutting out the amount of paper waste – encourage your employees to go paperless or print documents double-sided if necessary. Consider hiring a waste container rental for commercial waste.
Follow our top tips to help your business go green and you could be on your way to building up a positive brand reputation for your business, as well as gaining a loyal customer base and saving your business money. By being more efficient and more environmentally aware, your business could be more profitable.
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