Embracing sustainability in your business is not only a wise business decision, but it’s also essential to make it in the long run. Sustainability is here to stay. The efforts to protect and preserve our environment will continue. And legislation will catch up.
Globally, 60% of people think of sustainability as an essential factor in their purchasing decisions.
And this number continues to grow.
As climate news makes headlines, more people become aware of the importance of sustainability and the impact of everyday products they use. This often means rethinking their usual purchases—paying more attention to where products come from and how they’re made.
In today’s world, businesses need to adapt to cultural and social changes—and embracing sustainability is one of the first steps in achieving that.
What Does it Mean to Go Green?
For your business, going green means taking responsibility for the impact your products and services have. And taking the necessary steps to reduce or eliminate this impact. It means taking into account people and the environment when making business decisions.
Assessing and reducing the impact of your business is necessary. And smart too.
Becoming a more sustainable business allows you to make your systems more efficient and effective. Sustainability tackles waste and cuts down on electricity bills. It also makes for a better business environment that sees for the health of its employees and community—not just profit.
7 Benefits of Embracing sustainability in your business
Oftentimes, business owners think that embracing sustainability is expensive and bad for business. But the fact is the opposite. Yes, there are expenses to get started but over time, your operational costs lower, saving you money and helping the environment.
Going green is not only beneficial for your business but it also supports a brighter future for all people, animals, and ecosystems. We need to start considering more than just profit when running a business.
And there are many pros to running a business with sustainable practices. These are a few:
– Attract New Clients and Win the Loyalty and Respect of Current Ones
Embracing sustainability in your business creates trust with your customers. And more and more people are seeking to shop for brands that care about the health of the planet.
As we said, 60% of consumers think sustainability is important.
And when you’re showing your clients that you care, you win their loyalty. Taking a stand for the planet in your business makes people feel good about supporting you and your mission. And they’re more likely to shop from you if they feel like it contributes to a better tomorrow for all.
A recent survey showed that millennials are two times more likely to change their habits to help the environment than baby boomers are. Gen Z is equally or more concerned about climate change than millennials, and they’re soon to be the dominant generation in leading change.
– Engaging and Inspiring Employees
In today’s world, you need more than just a good wage to attract good employees. With more people concerned about the fast-changing weather, they also care about aligning their work with their values.
A study showed that 51% of employees wouldn’t work for a company without appropriate policies regarding social and environmental issues. And Millenials, who are already very concerned about sustainability, are projected to make up 75% of the workforce by 2025.
Social and cultural alignment is important for employees, and to attract driven, hard-working employees, your business needs to align with their values.
– Making the Planet and Your Community a Better Place Through Your Business Activities
Globally, 81% of consumers think that companies need to improve their environmental efforts. But embracing sustainability isn’t only about attracting new customers—although it helps. It’s also about boosting the health of your community and the people in it through your business.
Sustainability balances what you take from the environment and what you give back to it. And part of improving sustainable practices is focusing on boosting the local economy—this could be by sourcing more local products or simply helping your community consume better products.
– Lower Costs and Save Money
Some businesses are reluctant to implement sustainable practices because of the upfront costs. But even if you need to invest to get started on sustainability, in the long run, it saves you money.
A sustainability strategy can considerably lower the costs of running your business. And it affects operating profits by up to 60%.
These are a few of the most common ways sustainability saves you money:
- Lowering or eliminating electricity bills
- Reducing water use + bills
- Reducing waste + cutting down on excess use of resources
- Boosts profits and attracts new customers
- Making systems more efficient, which in turn saves you time and money
– Reduce Waste
Implementing sustainable systems into your business helps you see these systems as a whole. It helps you tap into circularity, which by default, helps you reduce and eliminate waste. And cutting down on waste means saving money.
As you start looking at the whole picture, you can start using by-products to create new, innovative products. You can repurpose and reuse certain ingredients or materials to cut down on waste.
Less waste also means less management of rubbish, fewer bags, less plastic, and less environmental impact.
– You Prepare Your Business for Future Legislation
Sustainability is here to stay. And as pressure from the public (and the environment) grows, legislation will happen. New norms to protect the environment will be created and your business can get ahead by starting now.
The time for sustainable development is here. And businesses need to catch up to the trend.
– Make Your Business More Resilient
A sustainable foundation is a strong foundation—and it makes for stronger, more resilient businesses. With sustainable practices, your business is more equipped to face challenges and it is also a more ethical way to lead a modern business.
Sustainability makes resilient businesses.
How Can Your Business Get Started?
Ready to turn your business into a sustainable powerhouse that creates a positive impact and profit? At ENSO we help you effectively get started on your sustainable journey. Our platform gives you the tools and support to connect with eco-conscious consumers and other businesses on a similar path.
Our vision is to build a community of environmentally and socially conscious businesses. And build a path that works better for your business, your community, and our planet.