You’ve probably heard the word “sustainable” many times by now, but you may wonder what it has to do with your business. Sustainable business means that you’ll be you’ll be increasing the odds that you company can continue indefinitely by minimizing social and environmental impacts while ensuring financial stability. Studies have shown that sustainable business perform better financially, including one report by nonprofit CDC, reported by The Guardian that found they secure an 18% greater return on investment (ROI) than organizations that aren’t, and 67% more than companies who refuse to. How can you help your business become more sustainable?
Think Greener in Procurement Sources
One of the best, and easiest, things you can do to make your business more sustainable is to practice environmentally-friendly procurement. Take a close look at your current suppliers and make changes as necessary by using suppliers that don’t use excessive packaging or sell products that contain substances that are harmful to the environment.
As often as possible, choose recycled items made from renewable material. Ask plenty of questions when researching various suppliers to find out where their goods are coming from, including whether the manufacturer is a sustainable business.
Whenever possible, use local suppliers, rather than purchasing online.
Seek Help from an Energy Broker
An increasing number of businesses are embracing renewable energy today. Your office can be powered with a variety of alternative sources like biomass, hydropower, geothermal, solar and wind power. There are hundreds of companies that supply energy in a myriad of different ways, affecting your bottom line and sustainability.
While there are usually a few suppliers dominating any given market, many other small suppliers are known for getting more creative in their offerings. Trying to figure out which one is best for your organization can be a very difficult task which is why using an energy broker who is knowledgeable about all the complexities that come with this sector, can best analyze the energy market to provide you with the greenest, most cost-effective options.
Reduce Water Usage
Water shortages are becoming an increasingly bigger problem in many places around the world, including North America. Whether your organization is located in a drought-stricken area or not, decreasing water use will help to conserve a valuable resource and help you save money at the same time.
Instead of using a sprinkler system to keep lush lawns around the building, switch to a drip irrigation system to significantly reduce water usage or consider changing the landscaping to something more drought tolerant. Fix plumbing leaks and dripping taps and install low-flow faucet aerators in your bathrooms.
Switch From Gas To Electricity
Electricity is much easier to source sustainably than gas and oil, especially if you use solar panels to collect energy from the sun. So by switching over some of your gas-powered company owned equipment to their electric counterparts you can ultimately help your business become more sustainable.
Some equipment to consider switching could include: switching from gas powered to electric vehicles (especially for companies that rely heavily on transportation), switching from gas-powered to electric-powered riding mowers (especially for landscaping businesses). A good electric riding mower with good user ratings will cost you a couple thousand dollars but could save you money in the long term plus make your business more sustainable.