subject: Sustainability Is Good For Business [print this page] Sustainability Is Good For Business Sustainability Is Good For Business
It also makes sense from a business perspective. There are various ways that adopting eco-friendly policies or launching green-minded projects can add to a company's bottom line, whether by increasing revenue or decreasing expenditures
Save on expenses: cutting consumption of energy means lowering energy and water bills. Reducing and recycling packaging materials decreases waste of both money and natural resources. Encouraging longer use of durable goods through repair and maintenance instead of replacing them cuts costs twice -- eliminating both the initial replacement cost as well as the expense of disposing of the rejected item. Government subsidies are increasingly available both as partial reimbursements and tax credits.
Marketing strategy: many consumers evaluate a brand's sustainability in making purchasing decisions, weighing the company's eco-responsibility along with quality and price/value correlation. It's an especially important factor to women who are more and more the primary influence behind buying choices.
Human resources: job candidates take into consideration the reputation of the company along with salary and career path deliberations. Many seek out employers that provide a good values match. In many cases, the good citizenship factor trumps the financial rewards in the recruitment and retention of talent.
Increase worker productivity: prioritizing a healthy working environment with clean air and natural light and free of harmful substances leads to higher worker output and reduced absenteeism. Turnover rates are lower when management respect for employees is present in tangible policy implementation.
Risk reduction: taking steps to proactively minimize potential negative impacts helps to avoid regulatory infractions and bad publicity. Being recognized as a leader in the community or sector for balancing corporate responsibility with maximizing profits has the added benefit of increased company credibility in crisis situations.
