As awareness of the importance of the preservation of the environment continues to grow, since many years, companies are looking for ways to become environmentally friendly, also known as “going green.” Not only can green business practices and processes help protect the environment, they may also help a company improve its business by different aspect:
Companies which can understand the fact that to be environmentally friendly can gain the appreciation of the consumers. Make a business go green can be a part of the marketing campaign by mentioning the green changes the company have made, such as using recycled products or changing the manufacturing processes to ones that are safer for the environment. Also, we can donate money to causes that benefit the environment.
Companies that focus on reducing energy consumption not only help the environment, but also reduce their costs in the form of lower energy bills. According to MSNBC.com, chemical manufacturer DuPont saved over $3 billion over two decades by reducing carbon emissions. Smaller businesses can also benefit from reduced energy costs by taking simple steps like shutting off lights and computers when they’re not in use.
According to the Green Business Bureau website, companies that promote a healthier workplace report a 20 percent decrease in the number of sick days used by employees. This benefits companies through increased productivity and less money paid out in medical benefits. A healthy workplace can feature organic food selections in the company cafeteria or the use of environmentally friendly industrial and cleaning products.
The 2009 French economic stimulus plan provided incentives for companies to go green in the form of tax credits, which can increase their bottom lines. Tax credits are available to companies that utilize environmentally friendly business practices, such as switching to renewable energy sources like solar power, and using electric or hybrid automobiles and trucks as fleet vehicles.
As environmental consciousness grows, consumers are demanding more green products and services, according to the Green Business Bureau website. Environmentally conscious consumers check labels for products and packaging made from recycled materials. Due to this growing consciousness, the market share for green products has continued to expand in a variety of industries. Companies can tap into this market by offering more green products and services.
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- greenconsultants.com (2018). Benefits of Green Business. Available at:
- wikipedia.org. Sustainable business. Available at: https://en.wikipedia.org/wiki/Sustainable_business