Not Just Business: Why Doing ‘The Right Thing’ is The Right Thing For Your Business

There was a time when a company could just be a company. Thirty years ago, consumers weren’t as sophisticated about the way they engaged with brands. It wasn’t such a big deal that McDonald’s fries were swimming in artery-clogging saturated fats—they tasted great. It didn’t matter that the NFL sold a sport that was hyper-dangerous to its players. The spectacle was all that mattered.

 

Things are different today. Just ask Uber’s former CEO Travis Kalanick what it’s like to be the leader of a company with a tarnished brand. Turns out, it’s much more challenging to run a successful company if it’s perceived to be socially, economically, and environmentally unaware.

 

 

A “Triple Bottom Line”

 

The triple bottom line works to benefit shareholders, the environment and the social climate.Our friends at Green Builder Media (GBM) give a good rundown of this idea. GBM’s Editor-in-chief Matt Power writes, “Simple bottom line decisions are not good enough for many shareholders, and they’re leveraging CEOs to act more responsibly.” Companies see that consumers respond to brands that are at least perceived to be filling out a “triple bottom line”—simultaneously acting in the best interests of shareholders, the environment, and the social climate. (For instance, if you’re selling high-profit margin, eco-friendly backpacks to bank robbers, you’re only hitting two of the three benchmarks.)

 

With so much information at their fingertips, consumers want to feel good about what they’ve purchased. This isn’t just a warm-and-fuzzy sentiment, there are numbers to back it up. GBM quotes a study that showed that in 2014, “S&P 500 companies with a clear strategy for addressing climate change earned an 18 percent higher return on investment than companies that did not.”

 

 

What It Means For You

 

48 percent of Fortune 500 companies have at least one climate or energy goal.The central question of this new branding reality is a complex one. Which matters more: to be socially, economically, and profit-responsible or to just be perceived so? Apple is a company with a sterling reputation, but it’s manufactured billions of landfill-stuffing smartphones that contain heavy metals that could one day contaminate drinking water.

 

There is good news: a 2017 report from World Wildlife Foundation (WWF), Calvert Investments, CDP, and Ceres, states that 48 percent of Fortune 500 companies have at least one climate or energy goal, an increase of five percent from a prior 2014 report.

 

As a responsible energy user, you should consider working with dealers, vendors, and companies that care as much about the environment as you do. After all, the one sure way your company will be perceived to be doing the right thing, is if you’re actually doing the right thing.

   

5 Reasons Why Your Company Should Go Green

Going green and saving energy has become quite the trend in businesses today. Companies everywhere are adopting safer practices for the environment and making strides to better our ecosystem. Reducing waste and preserving energy not only benefits the world we live in, but can build a better business as well. Take a look at these five compelling reasons to take the first step in helping your company go green and start saving energy!

 

 

1. It’s going to save YOU money!

 

It's going to save YOU moneyThere isn’t one business owner out there that doesn’t want to save themselves money. Going green is a great way to keep some extra change in the bank to put back into the company.

 

For example, try switching your incandescent light bulbs with compact fluorescent lighting (CFL). This can save up to 70% on electric bills! Also, going paperless cuts costs for buying paper, sticky notes, agendas, and notebooks. Try using natural light, and decreasing electricity usage in the summer by using blinds, curtains, or window film to block out heat.

 

Adopting small habits can potentially save your company thousands of dollars per year, while also saving the environment.

 

 

2. Consumers are looking for green companies.

 

Consumers are looking for green companiesProtecting the environment is a strong goal in society today, which probably means that a large majority of your customers are hoping to preserve the ecosystem whenever they can. Going green and saving energy is going to attract a strong customer base. According to Environmental Leader, about 53% of consumers prefer to buy from a company with a green reputation. And, not only are green companies a preference for customers, but for potential employees as well!

 

 

3. Stimulate company innovation…

 

Stimulate company innovationFinding more efficient means for production forces you and your employees to be innovative and to start thinking outside of the box. Brainstorming ideas on how to become more environmentally sound allows for creative stimulation. The ideas don’t have to be larger than life to be useful and thought-provoking. Simply thinking of more efficient ways to travel to work or reduce waste can evoke ideas and strengthen the thought process of employees.

 

 

4. Go ahead, decrease your taxes!

 

Go ahead, decrease your taxesDid you know that companies can take a tax credit of 30% for the use of solar and/or wind energy? Believe it or not, there are a lot of federal tax credits available for energy efficient buildings. Plus, at the state level, there are laws that provide a lot of tax credits and incentives for companies to adopt more environmentally sound practices. Check out this guide that provides tax incentives for all 50 states!

 

 

5. You’re helping the environment, which is reason enough.

 

You're helping the environment, which is reason enoughIt’s no secret that our environment is in need of some help. By employing different tactics to reduce waste, preserve energy, and conserve water, you and your employees will help to make a positive impact on a large global issue. Reduce your company’s carbon footprint by cutting pollutant and chemical use. Not only will this make for a healthier environment, but a healthier staff as well.

 

 

There are endless benefits to preserving our ecosystem. No matter how large or small your company is, finding more efficient ways to run your company will make an incredible difference.

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