Everything we do as humans has an impact on the environment, either positive or negative, directly or indirectly. Business practices are no exception. Practicing sustainability is important to make sure we have the water and resources we need for survival in the future. Our ecosystem is under attack by industrialization and worldwide practice changes need to be made. Businesses are a sizable part of the carbon footprint we are leaving on our planet, and that is why it is important that companies, not just individuals, take action to reduce environmental impact.
Practicing sustainability goes beyond benefitting the environment- it makes good business sense. Businesses practicing sustainability achieve a wide range of benefits that are often overlooked by those resisting change. These unforeseen advantages may be just the edge needed over the competition for many businesses.
1. Sustainability yields cost savings
Practicing sustainability ultimately improves your company’s bottom line. In recent years energy efficient opportunities have been found that save a significant amount of money in operational costs, for example switching to LED lighting. Tax incentives are another opportunity to save money of practicing sustainability. There are incentives for utilizing alternative fuels, being energy efficient, operating green buildings, and more.
2. Sustainability is good for your public image
“Going Green” is great PR and great for your branding. Today people are caring more and more about the organization and people behind the products they use, and people like and embrace sustainability practices. Customers that care about companies’ footprint will be attracted and retained when they otherwise might not be. This holds true with prospect employees for your company as well.
3. Sustainability keeps you competitive
A 2011 survey* of 3000 global executives revealed that about two-thirds felt that sustainability was necessary to stay competitive in today’s market. Not only do customers care about sustainability- resulting in increasing or maintaining market share, but if you aren’t a leader you will be a follower, and being a follower can be costly. It is important to stay ahead of the trend in sustainability just as you would in other areas of your business.
*To learn more about Sustainability’s Tipping Point, check out MIT Sloan Management Review’s Research Report:
Written by Kim Kirk
Interphase Interiors 