It’s Forbes-official: businesses that don’t make efforts in sustainability will likely go under.
This comes at a time when President Trump seeks to improve trading relations with African countries, like Nigeria. However, Forbes notes that the key to global economic growth relies on partnerships between countries that promote sustainable development.
Last year, the United Kingdom was able to power 50% of electricity demand across the country through renewable sources. This was the first time a nation was able to meet the demand for electricity through renewable energy practices.
According to the Business and Sustainable Development Commission, as estimated $12 trillion could be made through improvements in sustainable business practices. Not only do sustainable businesses help improve global health and reduce carbon footprints, it can help businesses’ branding by adopting a more environmentally-conscious image for the consumer.
Simply put, businesses that care about the environment are more likely to look better in the eyes of the consumer. A UK study by the TUI Care Foundation revealed that 54% of people going on vacation are increasingly likely to go for socially-conscious venues.
Though converting to sustainable energy has a large upfront cost, it’s nothing compared to the cost of the damage businesses have had on the environment. Even paper use within the office and grocery store can have detrimental impacts; nearly 14 million trees were cut in 1999 to manufacture 10 billion paper bags in America.
Renewable energy can also save your business money down the road. Converting to solar power or wind energy has a large upfront cost, but the savings down the road make up for the initial price. Farmers are able to save over $330 a month in electricity costs.
If your company doesn’t have the funds to convert to renewable energy methods like solar power and wind energy, however, there are ways your company can improve.
The buzz regarding plastic use is a good promotional strategy that also serves the environment. But reducing the use of plastics in the office only scratches the surface of sustainability efforts in the office.
Your business should also partake in sustainable missions such as carpooling, public transit initiatives, and reusable packing. In fact, there are over 130,000 limousines across the United States alone, making it a popular option for business outings with the office.
Businesses that do not adhere to sustainability are simply not going to survive in the new era of renewable energy. Making small changes in your business is only the first step to promoting a healthier economy and future.
