Now, more than ever, organizations are focusing on the environmental impact of doing business and are turning to specialized resources to help them go green. “Going green” is part of a larger global movement that works toward providing a sustainable energy future—and it’s delivering many important benefits. Saving costs, recycling and reusing valuable resources, and meeting compliance standards, not to mention growing brand recognition and building trust amongst customers are all welcomed effects of increased attention on sustainability.
Sustainability is Trending
Sustainability is more than just a buzzword. Case in point: younger generations. Did you know that younger consumers are more willing to purchase traceable, trustworthy products than their older counterparts? Deloitte research shows 64% of Gen Zers and Millennials would actually pay more for a product if it were responsibly sources and environmentally sustainable. Additionally, it’s no coincidence that many businesses have begun to include dedicated sustainability sections on their websites.
A Multi-Angled Approach
The individual aspects of the green movement can help guide organizations focus on the bigger picture: an all-encompassing, complete sustainable solution. Rather than each piece being mutually exclusive, together, they cofunction and affect one another simultaneously.
In this new age, businesses should always be focused on their environmental impact. Reducing carbon footprints while integrating further action plans that improve energy efficiency and increase environmental sustainability are crucial components of Corporate Social Responsibility (CSR). These days, consumers are increasingly looking for transparency and concerted efforts from businesses of all sizes to help drive sustainability efforts. Such efforts typically result in saving business costs by reducing energy use and earning tax incentives or carbon credits and offsets.
While being sustainable is the end goal, of course businesses must remain profitable. An organization’s ability to comply with governmental policies and to be transparent during the accounting process is also a part of its economics. This is an important part of making any company more sustainable, because making wise investments in specific areas like resource management, waste reduction, and creating more job opportunities, provides more avenues for a company to be more profitable.
Finally, a company’s overall values and practices must be considered. Anything that affects its employees, stakeholders, consumers, and even the community, should be a point of focus. From a business standpoint, zeroing in on retention strategies will keep employees happy. Benefits like flexible schedules, PTO, paternity leave, and growth opportunities are all a part of internal sustainability. On a larger scale, this also refers to business practices: are employees making fair wages? Is the working environment safe? Do employees want to stay long term?
Staying Ahead of The Curve
To address sustainability, businesses must figure out these key items. It’s a “knowing vs. doing” and “compliance vs. competition” scenario. Incorporating sustainability into any business model provides a true competitive advantage and should be seen as a must do for businesses of all sizes.
Dalrada Climate Technology aims to stay at the leading edge of corporate sustainability by providing a host of products and services that further advance the environmental goals and strategies of businesses around the world. For more information, feel free to browse through our blogs and articles or contact us today.