The Green Movement has certainly gone to greater heights over the past few decades. With its conviction to preserve the Earth and pass it on to the next generation in a far better state than what we have now, it has become such an influential force that has affected the way a lot of things are done. Most people are now aware of how to become better environmental stewards and have made certain adjustments to their lifestyles by going green.
What does “Going Green” mean?
With extreme weather changes taking place in different parts of the world, along with pollution and global warming, people are now putting serious thought into being as eco-friendly as they can. Going green is fast becoming a way of life. It is no longer just a fad.
But what does it really mean?
To go green means to change to become more environmental-friendly people. This involves making certain lifestyle changes that can compromise the environment like minimizing fossil fuel consumption and shifting to clean energy alternatives or using eco-friendly colored poly bags when you go grocery shopping to lessen your carbon footprint.
It is a concept, an idea that is fast becoming the norm with different industries adjusting and adapting to bring down their production of harmful greenhouse gases. In fact, it is now one of the things that define and bring greater value to a company’s commercial viability.
How does it affect a business?
Going green affects businesses differently. Depending on the type of business and how the changes are implemented, it can bring several benefits to any company or brand.
1. It enhances the business’ image and gives an edge over the competition
Nowadays, it’s not just business owners but also consumers that have developed a green mindset. And they are 58% more likely to patronize an establishment if they are aware that the company is mindful of its environmental and societal impact. Not only that, but consumers are also 20% more likely to spend their money on products and services that they are certain are environmentally safe and sound.
2. It reduces overhead costs and boosts productivity
When companies and businesses start to employ certain measures that are much safer for the environment, they significantly increase their sustainability. And with the implementation of more sustainable business and operational practices come better productivity and fewer overhead expenses. The wiser and more thoughtful use of resources helps streamline the overall costs of operating and running a business.
3. It opens more doors for investments and finance
Goldman Sachs made a study that revealed how several companies from six different industries have outperformed others on the stock market. They found that the common denominator of these top-performing companies is they are all leaders in implementing environmental policies.
A similar study from CFO Research talked to 175 of the best finance executives. Their study showed that more than half of them believe that their companies can greatly increase their revenues if they rolled out strong sustainability programs.
This means that brands and businesses that have well-thought-out sustainability plans have greater chances of bringing in more money.
4. It makes a brand more prepared for future costs and legislative changes
With the way things are going globally, it is inevitable that legislatures will change and adapt in favor of environmental protection. It is estimated that the 2020s will see legislation requiring companies to bring down their carbon emission by 25%, eventually bringing it up between 50% to 80% by the 2050s. This will, in turn, cause energy availability and costs to double by the next decade.
5. It improves the recruitment and even retention of good employees
According to international HR company Adecco, roughly 52% of adult workers and professionals feel that their respective companies should be more hands-on about environmental awareness. Most people just want to work for businesses that are doing the right thing.
6. It provides workers with a healthier and safer environment
A company that cares about the environment shows that they also care about their people. Eco-friendly materials and sustainable products aren’t only safe for the environment but the people using them as well. For instance, eco-friendly cleaning agents that are mostly plant-based and biodegradable are 100% nontoxic and safe for humans to use because they contain no harmful chemicals nor substances.
This means that you have a healthier and happier workforce that goes to work in high spirits and very motivated.
Undoubtedly, if a company goes green, they reap plenty of rewards that can make them more successful. They lessen their negative impact, bring in more money, and have happier and healthier loyal employees.