Top 6 Benefits of Sustainability in Business: Going Green
Sustainability has become a buzzword in recent years, as more and more businesses look to operate in a way that is environmentally friendly and ethical.
“Sustainability is no longer a ‘nice to have character – it makes good business sense, and those companies that embrace it are likely to reap the rewards in the long term. Businesses have a responsibility to help mitigate these issues by operating more sustainably. Hence, it is important for businesses to have sustainable products and integrate sustainability in their operations,” says sustainable business advocate and start-up business loan provider Shane Perry of Max Funding.
But what does sustainability mean for businesses, and why should they bother implementing sustainable practices? In this article, we explore the six benefits of sustainability in business.
1. Sustainability can help businesses save money.
Environmentally friendly practices can help businesses save money by reducing energy consumption and waste. For example, using energy-efficient lighting and appliances, recycling materials, and going paperless in transactions can all help businesses save money on utility bills. Implementing these practices can also help businesses reduce their carbon footprint and other environmental impacts.
2. Sustainability can attract and retain customers and employees.
As sustainability becomes more mainstream, businesses that are ahead of the curve in implementing sustainable practices are likely to see an increase in their market share. This is because customers have perceived sustainable products and services to have greater value. Simply put, an increasing number of consumers are interested in products and services that have a positive environmental or social impact. Similarly, employees are increasingly looking for employers that align with their values, especially in this area.
3. Sustainability can improve brand reputation and customer loyalty.
Customers and investors are increasingly interested in supporting companies that are working to protect the environment. By operating more sustainably, businesses can show that they are socially responsible and environmentally conscious. This can help them attract new customers and investors, as well as retain their existing ones. This is especially important for businesses that rely heavily on public opinions, such as those in the food and beverage industry.
4. Sustainability can help businesses adapt to changing conditions and regulations.
Sustainability can help businesses adapt to changing conditions and regulations. For example, businesses that are prepared for water scarcity or climate change will be better positioned to weather any disruptions. Moreover, sustainable practices can help businesses comply with new environmental regulations.
5. Sustainability can increase worker productivity.
Implementing sustainable practices can also help businesses increase worker productivity. Studies have shown that employees who work in sustainable buildings are more productive than those who don’t. This is likely because sustainable buildings provide a healthier and more comfortable working environment. For example, having a handy robot vacuum that remotely cleans your office can help with worker productivity while reducing cleaning processes that have a high carbon footprint.
6. Sustainability can create new business opportunities.
Implementing sustainable practices can help businesses create new business opportunities. This is good for business because it can lead to breakthroughs in introducing innovative products that will spark a wave of change in the industry. For example, a sustainable business might develop a new environmentally friendly product that helps to reduce the customer’s carbon footprint. Since there is an existing product in this area, other businesses will also be drawn to explore greener products for their own business.
Go Green! Support Green!
While this has been a trend among businesses, very few had truly committed to integrating sustainability into their products and systems. Isn’t it more fulfilling to support businesses that continuously strive to achieve this through and through?
The CBF Store is a premier Australian Tesvor retailer with a steadfast commitment to sustainability. Our Tesvor products are guaranteed to save time, energy, and waste because they have been designed with sustainability in mind. But more than that, we make sure that we can help the environment because of our partnership with Tree-Nation. Our partnership with them allows us to plant a tree in Madagascar and Tanzania for every purchase of any item in our shop.
Contact us and let’s take a step together toward sustainability.
Written by Claire Coleman for The CBF Store