The Importance of Environmental Awareness and Your Business.
Hint: It’s Much Deeper than “Going Green”.
Sustainability is an increasingly important issue for many people, especially in the business world. For business owners and leaders’ sustainable business practices are becoming imperatives.
Making businesses more sustainable starts with being aware of the issues and understanding just how important it is to make changes — both for the business and the planet. The intent of this MicroScope™ Lens Blog Post is to help make your organizations more environmentally aware and understanding just how important it is to make changes for your business and the planet.
Sustainability in Business: What Does It Mean?
Business sustainability is the practice of operating a business without impacting the environment negatively. A sustainable business functions in the best interests of the local and global environment. A sustainable business supports the community and adheres to the belief that a healthy economy is dependent on a healthy planet. An environmentally business considers more than just profits, it adheres to the triple bottom line, a term coined in 1994. The three components of the triple bottom line are profits, people and the planet. The thought shift lies in the belief that a sustainable business earns profits by protecting our business use of the planet’s resources.
Why Is Sustainability Important in Business?
Sustainability is important in business for the following reasons:
- More than half of Americans that participated in a social responsibility study want corporations to drive social and environmental change in the absence of government action.
- American consumers want to purchase from companies that advocate for issues that they care about.
- Americans expect companies to do something about their business practices to take action to protect the environment.
- Americans will stop doing business with companies that don’t care about the environment.
- According to a report from the New Climate Economy, 95% of plastic packaging — the equivalent of $120 billion annually — is wasted after the first use, and microplastics have been found in 114 aquatic species. That number should shock and astound you.
- Businesses that act on climate change by adopting green policies, technologies, and strategies for growth could realize a total of $26 trillion in economic benefits.
The Benefits of Sustainability in Business
Sustainability in business isn’t just good for the environment or society at large — it’s also good for the business itself. Here are just a few of the many benefits of operating a more sustainable business:
- Reduce Costs – Go paperless, use more effective lighting, take advantage of green tax benefits or rebates.
- Improve Business Brand – Companies with green values show the world you care more than just money. Customers see this as a positive. You can share your green values throughout your marketing and differentiate your business brand.
- Competitive Advantages – Green, sustainable companies tend to be more technologically advanced than non-green businesses by utilizing technology to accomplish more with less. Using technology, accomplishing more with less. Creating a competitive advantage is a vital part of achieving success – leveraging technology to form a sustainable competitive advantage can help you become a segment or industry leader. For example, technology can automate all the back-office functions to make workflows better, faster, and cheaper. I have witnessed the power of automation through my company’s products and work with our clients.
How to Make Your Business More Sustainable
Below are some easy ideas to implement to get started:
- Start Recycling at Work
- Encourage Green Commuting
- Offer Remote Work Options
- Go Digital
- Create a Sustainability Committee
You can earn more money and boost your bottom line by creating a sustainable business. Reduced business costs, more innovative strategies, an improved reputation, and more new customers who value sustainability all work to increase the amount of money sustainable businesses earn. We’re all in business to be profitable but how cool is it to use your business’ presence to make an impact on the planet? Valuing the triple bottom line can be your business’ superpower!
Note about Micro Key Solutions –
Micro Key is passionate and committed to the global reforestation through a partnership with One Tree Planted organization. Micro Key donates a portion of all sales to this passion project. Check out Onetreeplanted.org for more information or to join us!
President of Micro Key Solutions