Going green can create a better brand image, help lessen pressure from government regulators and even reduce business expenses. Despite this, many business owners still think going green is more expensive than using traditional methods of production and operations. Plainly put- going green improves a company’s reputation and leads to better financial standing and business opportunities in the future.
Statistics say that most of today’s customers consider energy efficiency a factor before they make purchases. Business sustainability, is thus, a prime concern for consumers across the world. This is one of the reasons why business owners should consider going green. There are numerous steps that can be taken to make a business more sustainable and energy efficient. Here we have compiled a list of green initiatives that will certainly help lower the carbon footprint of businesses considerably.
Use alternative sources of energy
One of the easiest ways a business can go green is by using green energy, i.e., energy derived from sources other than fossil fuels. These sources of energy could be solar, geothermal, wind or hydropower. Solar energy is rapidly gaining momentum as one of the best contenders for alternative energy. While this can be expensive to install, the savings, in the long run, more than makeup for the initial costs. Moreover, there are additional benefits of going green for a business, such as improved brand image, better sales and tax concessions, which far outweigh these expenses.
Limit the use of energy
Consuming less energy directly affects your business’s utility expenses. An important point to consider while saving energy is to reduce the situation of ‘vampire power’. This is when power systems go into standby mode and continue consuming energy despite not really being in use. This can be reduced by unplugging devices and chargers when they are not in use, and always shutting them down instead of letting them go into standby mode.
A good way for your business to consume less energy is to switch to energy-efficient power systems, which use far less energy and last much longer than traditional devices. In this way, you end up saving on energy costs while also having to replace devices less often.
Move to a paperless environment
Paper accounts for a lot of solid waste in landfills despite the world undergoing a technological revolution. Along with saving money spent on paper, you will also save money spent on ink and reduce your overall carbon footprint.
There are many ways to comply with financial and legal requirements while still ensuring the safety of data. Server and cloud technologies have evolved to become very advanced in maintaining data security. Surely, we still do not need stacks of files and paper when important documents can easily be scanned and stored online?
Go beyond basic recycling
It is essential to implement a recycling program in the business so that employees have access to recyclable technology wherever possible. Other than paper and plastic recycling, something most businesses tend to overlook is e-waste. A lot of businesses generate e-waste in the form of dead batteries, spare parts, mobile phone components, and so on. E-waste needs to be recycled separately since it can do enormous harm to the environment if disposed of improperly.
Use the services of green suppliers
Check with your suppliers and vendors to see if they focus on sustainability and ecofriendliness. It is important to support businesses that consider the environmental impacts of their products. For example, does your supplier use a lot of plastic for packaging? Try to choose local suppliers to spend less on shipping and also promote less carbon emissions from transportation.
It is important to be vigilant about which suppliers are associated with your business and partner with those companies which focus on sustainability. This is because your brand image will certainly be associated with your supplier. When you try to onboard investors or secure business loans, these factors may come into play to decide your credibility. If you are wondering why do businesses need finance when it comes to green initiatives, it is simply because the initial expenses to set up green modes of production and operations can be quite hefty. However, as we mentioned, they certainly pay off in the long run.
Encourage ‘Go-Green’ initiatives
One of the best ways to go green is by encouraging your employees to get on board. Offer lucrative incentives for employee participation in green initiatives. A small recognition from your end can go a long way in boosting employee morale and improving your company’s culture. You could offer incentives such as cashback programs for employees if they buy green vehicles or use green energy to power their homes, and so on.
Thus, going green not only boosts a company’s bottom line but also enhances its brand image, particularly with eco-conscious customers, in addition to boosting employee morale and productivity. Going green does not need to happen all at once, it can be a gradual event. The point is to keep building upon existing efforts of environmental consciousness. Becoming a green business presents more opportunities than setbacks and as such, supports the cause of sustainable development.
Image by Freepik.
OptiFinance offers eco-friendly bookkeeping services in London. Their commitment to sustainability includes utilizing paperless processes, cloud-based accounting systems, and energy-efficient practices to minimize our environmental impact. By embracing digital solutions, OptiFinance not only streamline financial management for their clients but also contributes to reducing waste and conserving resources, helping businesses achieve both financial and environmental goals.
