The majority of properties globally waste water, and commercial properties are no different. According to EPA statistics, a single toilet can leak a gallon of water every two minutes; an unattended hose, 20 gallons every two minutes. This is a huge amount of water when you multiply that by the hundreds of thousands of businesses in every country around the world. For businesses, there is a moral and ethical imperative to save water – everyone needs to get involved in tackling climate change. However, there’s a business case to be made, too, starting with your bottom line.
Maximizing profits, minimizing waste
The impact of decreasing water levels and the rise of droughts is already having a serious impact on businesses. According to ABC, rising costs are inevitable, and that includes in traditionally water-rich areas such as Illinois, USA. Water can be lost through faulty plumbing, but also through business groundwork and premises. Too many non-water-retaining surfaces, such as asphalt, concrete and imitation lawns, can lead to water runoff, giving no benefit to the business and creating losses.
There is a clear business case for trying to trap this water. Studies have shown that huge savings can be made by installing infrastructure and policies that seek to retain water. Going in at the base level is a great place to start in generating real long-term savings.
Fighting water loss will also help to combat climate change, an area in which there is already untold damage being done to businesses. According to CNBC, the accumulated damage caused by climate change will cost businesses $2 trillion by the end of the century – every single year. This is a 7.1% loss in revenue in the USA alone. Businesses in less well protected areas of the world, especially around the equator, can stand to lose even more in the short term.
A proper climate change action policy is essential in getting involved in the fight against this, and that includes retaining as much water as possible – in the USA, and further afield, drought is already a major problem.
A sustainable generation
When it comes to business reputation, savvy owners know that it’s the opinion of their customers that really matters. The customer’s need trump everything else, and there’s a lot of evidence to back up just how much the customer really cares about the impact on the environment of the business they are purchasing from.
According to Forbes, 58% of consumers – all consumers, not just the typically more progressively-minded youth – will now pay more for products that come from companies with considerable green credentials. This is a massive opportunity for businesses to get ahead of competition and cement a long-term name in the industry.
As you can see, water saving policies aren’t only common sense – they’re a real action to take in the fight against climate change, and improving company profits. A business stands to benefit to a large degree from embracing pro-green policies.