Climate change and environmental responsibility have both been an ongoing subject of discussion for many years, and for good reason. If anything, the conversations around environmental change have been on the rise and strengthening among businesses and residents across the country.
In fact, now more than ever, businesses that practice sustainable efforts are becoming largely important to customers and employees of all ages. It’s really the perfect opportunity for organizations to take note and jump on such green initiatives if they haven’t done so already.
Aside from being imperative for the health of our water and life supply systems, sustainable practices bring along with them so many advantages that can make a positive impact on your services, products, and even contribute to your bottom line.
Sustainable Practices Save You Money
Climate change is already demonstrating to be a costly phenomenon. Studies have revealed that an average global temperature increase of 2.8 degrees Celsius could cost the US $296 billion each year. Furthermore, it has been suggested that climate-change-related disasters have already cost over $400bn since 2015 alone. If it’s important to your business to have a strong economy to work in, you should consider these potential cost increases and what that could mean for consumers and fellow businesses alike.
You should also know that there are many small benefits that you’ll notice quickly with some simple changes in your everyday operations and processes. In fact, sustainability can come with several benefits concerning the quality of products, employees, and clients. They can even help you save money!
Operational and Office Costs
Implementing some changes in your workplace can reduce your carbon footprint while lowering your operational costs. A recent study from the UKGBC revealed that more than 50% of SME’s recognize cost advantages that come with sustainable practices, and that 30% have actually improved their profitability as a result of making such adjustments. Particularly in the long term, sustainable practices can also lead to cost advantages for businesses and consumers.
For instance, making the switch to LED lighting can do wonders, alone. LED light bulbs use a fraction of the amount of energy used by fluorescent and incandescent light bulbs. While the initial cost can be slightly higher, they typically last a lot longer than their incandescent and fluorescent counterparts; which means you’re not replacing them constantly, spending more money. These benefits can multiple to create great long-term savings as well as limit energy consumption.
Taking advantage of technological advancements for data sharing and working together is another area where businesses can save money and improve their operations. Tools like cloud computing and conference calls have made meeting, communicating, and collaborating with others in real-time from anywhere in the world possible; you’ll save on travel costs such as fuel and emissions.
Improve Business Value and Reputation
In the last few decades, economists have reviewed ways in which climate change and sustainability can create opportunities to grow business value either by limiting risks, improving profitability, or prospects. One study recommends that taking environmental action can present factors that can indirectly increase the value of a business.
Here are just a few examples:
- Enhancing brand value and consumer insight
- Improving investor and stakeholder insight on long term sustainability
- ROI on efficient and renewable energy investments
- Higher levels of employee satisfaction
Creates Attraction to Your Workplace from Top Talent and Millennials
This provides more than just another way to improve your products and services; it’s also a great step towards increasing the perceived value of your business. Making green initiatives a priority is one way to set your business apart from others, attracting environmentally conscious talent who are seeking exactly this because of their own individual values. Studies show that environmental responsibility is a key concern for millennials.
We Can Help Your Green Initiatives
At FileShred we take great pride in ensuring that each of our services reflects environmental responsibility, striving to reduce our carbon footprint with everything we do. Our media destruction and hard drive shredding services are in place to protect your sensitive data and so that dangerous materials are disposed of safely and responsibly at the same time.