A sustainable business does more than make a profit. It makes a positive impact on the world.
1. What Does It Mean To Be a Sustainable Business
A sustainable business engages in constantly making greener tweaks to its operations to make a more positive impact on the world. Its perspective goes far beyond figures as it takes in to account its impact on the environment, the community, natural resources, and what the world it is leaving behind to future generations.
While reducing its negative impact is important, the company needs to integrate sustainability deep within its strategy. Doing business this way actually makes a business much better off.
2.Benefits of Being a Sustainable Business
Pursuing sustainability brings a multitude of benefits.
Lowered risks
Think about it this way. If oil companies had a more sustainable approach, they could have avoided huge liability costs resulting from oil spills. Over the long-run, the more sustainable the business is, the less exposed it is to such risks. Companies are expected to cut their carbon emissions drastically as they should aim for a zero-carbon footprint.
Lowered costs and improved productivity
Sustainability implies you will be creating less waste and using less energy. Using less energy will result in lowered PECO utility bills. Making your business more eco-friendly will both improve your productivity and lower your costs of operations.
Product differentiation and enhanced brand value that increase revenue and profit
Consumers are becoming more aware with each passing day. Many studies confirmed that consumers are willing to pay a premium for sustainable brands. A green reputation does a great job at both attracting consumers as well as keeping them.
Innovation
Sustainable businesses are constantly looking for new ways to address environmental concerns and by doing so, they get to create new products and enter new markets.
Employee retention
Employees who feel proud of the company they work for are less likely to leave, reducing turnover costs.
3. Simple Ways To Make Your Business More Sustainable
It’s time to break the myth that sustainable practices are an expensive endeavor. If you’re worried about the transition toward sustainability, it’s often best to start small.
Remote work
By allowing remote work, you will dramatically cut your energy usage as you will reduce your light and energy use, bringing you significant savings from utility bills. Also, you will eliminate the commute that your employees need to take to come to work and go back home. Even if you are not ready to say goodbye to your office entirely, even a partly remote framework will do the trick. When your team is within the premises, ensure they adopt energy-saving habits such as turning off lights when they leave the room and unplugging devices when they finish for the day.
Greener equipment
Smart gadgets can make a big difference in your energy consumption. Getting sensors to turn off lights for you or a programmable thermostat will bring significant savings both to your bank account and the planet. Use paper only when necessary. The digital world might also bring us a headaches but the trick is to use technology to improve your world and not let it become your master. Use the cloud space to reduce your need for physical storage. Use DocuSign to have documents signed electronically. Take advantage of having a platform where your team can easily collaborate and save team from unnecessarily repeating tasks. Technology also does a great job in helping us minimize errors.
Repurpose and recycle
When you have to dispose of electronics, the least you can do is recycle. When you are buying devices, buy second-hand ones that will save you money and benefit the planet while providing you with the same performance. Tech companies such as Apple even have programs as part of their effort to reduce waste from their products, giving you a new appliance at a reduced price by repurposing your old one. This is just one example of how you can give waste a second life.
Takeaway – Sustainability is more than a trend. It is a responsibility that every business and person needs to integrate into their daily routine. The world has move beyond the ‘going green’ mantra. It is a holistic business approach that takes care of not only but three bottom lines: people, planet and profit. Such businesses can truly make a difference by becoming accountable for what it does.