There is a trend going on in the business world, and smart organizations and businesses are taking the advantage to improve their brand, offer quality products and drive more sales and revenue. There is a lot of advocacy for an environmentally friendly product in today’s society. This has created a paradigm shift in the processes and demand for consumer products. The cliché now is “go green or go parking”.
Incorporating environmentally compliant products does not only show that your business is in line with the global world best practices but it brings a variety of benefits for your business.
Here are 5 Incredible Impacts Going Green make on Your Business
#1. More Profits, Less Cost
Going green improve the efficiency of a business. When unnecessary waste is reduced operating cost is trimmed down. According to Saksham Khandelwal, Companies with a focus on eco-innovation are growing at an annual rate of 15% at a time when many competitors remain flat. Many of these companies are the small and medium-sized enterprises which make up 99% of Europe’s economy.
In the book Greenthink, Rick Fedrizzi, the man who helped make LEED certification for buildings, argues that business that is mindful of their environmental benefits in terms of profit and reduction in running cost. The U.S. Green Building Council (USGBC) is projected to earn at more than $3 billion by 2020.
A 2017 report from the Global 100 companies also shows that companies that invest in sustainability earn more and spend less.
#2. A Healthier Work Environment
Health is wealth goes a popular cliché. This is not limited to losing weight or keeping a good diet. Being healthy has a lot to do with the environment you live and work. An organization that fails to keep the environment, sustainable and healthy will spend more on the recurrent illness of staff. It will also reduce the productivity of staff and this will show in the end product. Applying green processes to the workplace reduces health-related issues, enables a healthy environment for employees, reduces unnecessary waste and tells more about the role your business is playing in leading the way for social change.
#3. A Stronger Brand
As the awareness of “green products” increases, lots of people are being conscious of how and what product they spend their money on. The competition among businesses also contributes to this. For example, a global sustainability report says 55% of consumers across 60 countries are willing to pay higher prices for goods from environmentally conscious companies. A 2013 study also claims that 71% of Americans at least consider the environment as a factor when shopping.
For your brand to stand out and drive sales, it definitely has to continuously improve on its commitments to make products that are environment-friendly.
#4. The More Durable, The Better
A durable device is a greener device. When products can be used longer, there is less need for extraction from earth resources to make new ones. People want the best for their hard-earned money. This also means that majority of people will only purchase products that are durable, cost-effective and environmentally friendly. For example, the Keys on Apple’s MacBook are pressed millions of times to ensure that they can stand up to repeated use.
#5. Go Green Or Go Parking
Climate change has the highest impact on our environment. This is a challenge to the world, and pragmatic individuals and businesses are taking advantage of this to provide alternative and sustainable products that help improve our environment. This will always mean more profits because there is increasing demand for green products. Incorporating eco-innovation and sustainable methods to your business will ensure that your brand is up-to-date and getting ahead of regulations in the business trend. In their 2017 environmental responsibility report, Google and Apple have ensured a 100 percent renewable energy use for their operations. You can improve your business green score by taking the United States Environmental Protection Agency self-assessment test.
Remember, incorporating green strategies to your business is always a win-win game; it pays for the environment as well as your pocket.