Why your business should Go Green! (part 2)

Going Green is something that every business should be doing, the world is changing and so should you and your business. Here are some reasons why going green does not have to be viewed as a chore and an added expense but rather a great business decision that will protect your business during tough times, increase consumer loyalty and make your business something that you can be proud of. These points are laid out by Graeme Codrington a futurist at consultancy firm TomorrowToday.

If you missed the first part to this blueprint then read it here.

1. It is the new expected minimum standard

Consumers are becoming more and more aware, they are realising that businesses and products are imparting negative external costs onto society and are looking to do their part. Money is the number one concern for your average consumer but if price and other factors are equal a consumer will take the environmentally friendly product and or business everytime.

2. It is happening globally - and the international regulations will affect you

Green or sustainable standards are not happening equally around the world so or though you and your immediate local competitors might not be in the green race other business are probably developing green sustainable versions of your product that could end up influencing your market.

3. You can reduce your risk (and increase your access to capital)

Not only can you save costs but you can decrease your risk by being more environmentally friendly and ethical. "investors will reward your business with access to cheaper capital and so should insurers. Since climate related insurance claims have increased over the past decade, the ability to demostrate that your business is future proofing itself against these types of risks will have a significant downward effect on insurance premiums," says Codrington.

4. You will attract better staff who will most likely perform more efficiently

Although the employment market is very one sided at this point, Codrington says that Graduate recruits are stating that environmental policies and ethical image of potentail employers is very important in their decision making process. Also research done by the Green Building council of South Africa have shown that green work environements decrease allergies and astma in staff by 60% as well as a 30 % drop in absenteeism resulting from depression and stress. Now I am not sure how they worked that out but you have to admit you would be far more productive in a work environment that has clean fresh air, with great natural light rather than one which is articificially cooled and lit using Aircondidtioning and piercing energy sucking bulbs.

5. It is a source of Competitive advantage

Green and sustainability are here to stay so instead of being an industry follower and always being led by your competitors make the first move because once you do believe me it will take a lot of work for any of your competitors to take that reputation away from you. Look at Apple and all of its accolades, the first mover is king.

6. You can save real money, by cutting real business expenses by Going Green

Going Green is not just about future issues and your business reputation. In order to Go Green you as a business need to reduce the amount of energy you expend, this will count for a nice accompanying decrease in your electricity and petrol bills, the cost of both are heading towards the heavens and are not going to come down. Also you will reduce costs of inputs into your products through setting up good recycling programs, avoid environmental taxation and prepare yourself for the inevitable carbon tax / trading platform which is being seriously discussed at COP17 in Durban this year and is an inevitable addition to most economies around the globe. Going Green is also being heavily incentivised by legislation around the world so do your investigation and see where government can help you out.

7. Going Green is a sign of leadership within a company and a sign that a company has a vision for the future

Codrington says that savvy investors are using green indicators and environmental records as a proxy for good management and hidden value.

Again I say it, you don't have to redifine your business in order to Go Green, you just have to start your business thinking about how it interacts with the environment, begin by reporting on your environmental sustainability and take it from there. FTGM will be able to help you with this soon.

Monster Original FTGM: paving the way to sustainability.
previous next
Post Rating