Going Green: Why Companies Should Invest In It

By regi.blogging@gmail.com 6th August 2021

Companies can often make the mistake that “going green” means cutting profits or benefits. If anything, the opposite is actually the case in the modern age. From sustainable resource management to environment-friendly products, there are a plethora of ways for a company to go green and still turn in record profits. In fact, it is because of these green practices that companies turn in said profits.

Today, let’s talk about the benefits of going green as a business in practical terms.

Positive Brand Reputation

The world at large acknowledges the effects of climate change. A business making an effort to be more green shows customers that they care more than the profits they make from their practices. When the means are available, your business should go green. When you do, customers will view you as a successful brand. By going green, you also start building up the identity and reputation of your brand. A brand that cares about the environment is a brand that most people can get behind. Green companies are known to have a higher chance of being recognized not only by customers but also by other possible business partners.

Managing your brand identity is crucial to a business. If customers associate your business with shady or unethical practices, they will be less inclined to follow your brand. Reputable companies are often saddled with a lot of social responsibility. As a brand owner, you have the power to influence people’s thinking. For example, Starbucks is now working on technology to create recyclable paper cups and planning to make them the standard late into the 2020s. It’s actions like this that give both shareholders and customers confidence in the brand.

Cost-Efficient

Committing to sustainability is of great importance for a business. Greener practices are actually energy-efficient, and that means less spending. By minimizing energy waste, you also inadvertently save resources on waste disposal. With reduced costs, businesses will have an easier time staying sustainable.

Not to mention, a lot of renewable energy resources are actually cheaper in the long run.

When you move your business to greener pastures by going green, expect that admittedly high start-up cost to pay itself back tenfold.  Sustainable business practices save your brand a lot on operational costs and planning. Those savings can reach up to the millions when done consistently and correctly.

One such example of a sustainable practice that saves costs and the environment is eco-friendly lighting. The worldwide shift from the energy-intensive incandescent lights (those old-timey glass light bulbs that heat up) to the much eco-friendlier, cost-saving, LED lights are not only well-documented but the new standard for lighting.

Some companies are even opting for solar energy. The starting investment is admittedly high, but in the long-term, solar panels will more than pay for themselves easily over the course of five years. Not to mention, most modern governments have started offering tax breaks for having sustainable practices.  Sustainability saves on energy and raw materials.

Legal Compliance

Every year, more and more governments are mandating laws that impose sustainable practices on all businesses. From local to federal levels, every government institution is doing its part to keep the environment stable. The reason why your business should go green, other than the practical benefits, is to avoid future issues with compliance. Pay attention to the news for any laws that may affect your business and stay ahead of the curve by implementing sustainable practices before the government has to force you. Even if you haven’t seen it making the rounds in Congress, you should do your due diligence in implementing new sustainable practices anyway. It might not be law now, but it could be in the future.

Employee Safety & Morale

Employees are safer and happier when a business goes green. When companies go green, they also remove a lot of the risks associated with non-sustainable practices. They feel safer knowing they aren’t at risk. This not only increases morale but productivity. A business that cares about the environment, by natural extension, cares about its employees. Turnover is much lower in green companies than non-green companies.

Some companies even offer rewards to employees that actively participate in eco-friendly actions in their own home. This not only improves your reputation with employees you currently have hired, but potential future employees that can be a great asset to your business. Companies that go green look like great job prospects for plenty of professionals, and that can help your company’s growth.

Conclusion

The benefits of going green are only half the reason you should be doing so. While profits, morale, and reputation are indeed major assets, the most important asset for going green is the Earth itself. Your business, at least for the foreseeable future, will be taking place on Earth. When your company does their part in keeping the Earth a safer and cleaner place, they are ensuring a future for themselves and their customers.