“Shifting to a more sustainable business alternative is no longer a matter of preference or good PR anymore. The public’s opinion and changes in government legislation play a big role in today’s fast-paced era. Going green is becoming a major defining factor in your company’s commercial viability.” [DotYeti]
Countering greenwashing: corporate green claims are being increasingly scrutinised in the US, EU and the UK, with rules being tightened about what companies can say about the environmental credentials of their products and services.
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Monday is Earth Day 2024 – and businesses can certainly do their bit.
Six realistic ways you can pitch in and make a difference: Let’s get down to the nitty gritty of realistic and concrete ways you can change the way you work to do your part… 1) Eliminate single use plastics altogether 2) Really interrogate your supply chains 3) Partner up effectively and gather resources 4) Take physical action in your area to reduce pollution5) Invest in quality long-term goods from sustainable companies 6) Re-evaluate your superannuation and investments
And the creative designers DotYeti look at 10 Ways Your Business Can Go Green – where they show that ‘going green’ is actually very good for business:
Shifting to a more sustainable business alternative is no longer a matter of preference or good PR anymore. The public’s opinion and changes in government legislation play a big role in today’s fast-paced era. Going green is becoming a major defining factor in your company’s commercial viability.
How does a business benefit from going green?
1. Reduced costs and capital Through upcycling, you can save up a ton of money when procuring needed materials to create your products. If you can find a supplier of recycled materials that you need, it can help reduce the money you spend on acquiring new materials. A great example of this is Chop Value. By collecting used chopsticks from restaurants for free, they’re able to create quality furniture.
2. Increased competitive advantage Going green can highly improve your brand image, leading customers to recommend your business to others who share the same passion. Something as simple as being cruelty-free could help your business go a long way. But being mindful of the environment is more than just a trend and strategy. The effects it yields are very real.
3. Appeal to a rapidly emerging market People who are newly dedicated to sustainable living often struggle to look for alternatives to non-eco-friendly products they’ve been used to all their life. This presents a lot of opportunities for entrepreneurs to innovate and cater to their needs.
4. Attract more investors Local governments, banks, and crowdfunding contributors are highly supportive of eco-friendly businesses. Garnering investments, donations, and sponsorships can also be easier for them. It also makes it easier to form partnerships with other businesses and foster a genuine relationship with communities.
5. Being a step ahead of regulations The cries of activists are finally heard by the people in power. Certain limitations are being imposed in different countries and long-running companies are finding it hard to adapt. It may be because their factory machinery does not live up to current standards or the operational changes are too drastic to change overnight.
Indeed, we seem to be in the increasingly familiar terrain of greenwashing as the order of the day – with new forms emerging and becoming more and more sophisticated.
