economic case for sustainability in business

Increasingly, businesses are opting for sustainability. Being environmentally sustainable really just means finding ways to cut waste, which in turn reduces operating expenses – and every successful business wants to reduce operating costs and increase profits.

Sustainability creates bottom line results

There is no doubt that cutting energy, water, and raw material waste from operations saves money. In fact, Wisconsin has had strong energy efficiency programs for years, pushing businesses to voluntarily reduce their energy usage and in turn, the costs associated with higher energy usage. Unfortunately, businesses that did not voluntarily reduce their energy waste have felt the economic pressure to get on board with energy efficiency initiatives in order to compete with companies operating more efficiently and sustainably. If your organization isn’t operating as efficiently as it could, create a strategic plan to invest some time into trimming the waste  – your pocket book with thank you for it!

Customers want to patronize businesses committed to sustainability

Recent surveys show that over 66 percent of consumers in the U.S. prefer products and companies with a commitment to environmental and social responsibility. Forward-thinking businesses are adapting to meet this new consumer demand for ethics and sustainability. Large corporations, like Walmart, are working on making their supply chains more sustainable, which includes requiring vendors to adopt more sustainable packaging, shipping, and energy practices.

Less dependence on resources limits business risk

Businesses who are less dependent on finite natural resources, often have less operational business risks to take on. If we look at how countries outside the U.S. have begun to regulate carbon emissions, and the overwhelming scientific evidence behind climate change, it’s in the best interest of any business to get ahead of these inevitable regulations by reducing their dependence on these resources in the first place. For example, electric utility companies know that in order to remain competitive and compliant into the future, they must provide power from solar and/or wind resources.

Corporate sustainability plans attract new employees

Millennials, who currently make up the majority of the U.S. workforce, want to work for companies with a strong corporate commitment to sustainability and the preserving the environment. Many in this demographic will even pass up a job if a company’s ideals don’t align with their own. We can already see this trend in competitive fields like healthcare, and it will surely spread to other industries as well. Sustainability commitments could make or break your business’s abilities to hire the best and brightest employees.

Each of these factors have one thing in common: they are in the best interest of business. When companies act in their own economic interests, this inevitably means operating more sustainably. The momentum behind the sustainability movement will only continue to grow as businesses and communities strive to save money and operate more efficiently.

Start accelerating your company’s sustainability efforts today

If your business is looking to accelerate sustainability efforts and engage employees in the process, Cool Choices offers fun, social, and easy corporate sustainability and community-scale programs that make sustainable practices the new normal – both at home and at work! Learn about the program results two-time Cool Choices client Miron Construction achieved during their recent game-based sustainability program.

Comments are closed.