How Improving the Environmental Sustainability of Your Business Can Mean More Profits

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There’s a common misconception in the business world that taking an eco-friendly position in the marketplace means extra expenses, and therefore, reduced profits. However, at Platinum Electricians we think this simply isn’t true, and believe that an environmentally-aware attitude to business can actually often mean greater profitability.

The idea that green practices can be cost-effective may have you stumped, and if you’re doubting the above statement, you wouldn’t be alone. But here are the facts…

  1. Companies that build sustainability into their core strategies are outperforming those who fail to show climate change leadership.
  2. Corporations that are actively managing and planning for climate change secure an 18% higher return on investment than companies that aren’t.
  3. Companies investing in carbon reductions achieved a 50% lower volatility of earnings over the past decade and 21% stronger dividends than their lower-ranking peers.

These facts are based on findings by non-profit CDP, which provided some of the first evidence of a link between business leadership on climate change and a company’s profitability.

Running an environmentally friendly business

Running an environmentally friendly business helps you reduce your impact on the environment and preserves natural resources that are depleting quickly. Here are some examples of steps you could take to make your business more environmentally friendly:

  • Reduce your reliance on natural resources by installing rainwater tanks or solar hot water systems
  • Use products that are made from recycled materials, and always ‘think green’ when buying or replacing items
  • Reduce travel emissions by arranging conference calls instead of face-to-face meetings
  • Install LED lighting and solar installations to save on energy usage
  • Undertake an energy audit to gain detailed information about infrastructure and appliances
  • Replace outdated appliances with greener counterparts
  • Switch to post-consumer waste paper or skip paper entirely by keeping everything online
  • Use biodegradable cleaners that reduce exposure to harsh toxins and other chemicals
  • Purchase green power where possible
  • Encourage staff to carpool, use public transportation or ride bikes to work
  • Utilise green web hosting that mitigates the environmental cost of running servers

Steps like these are simple, fast and effective, and not only can they cut thousands of dollars off your bills, they can support your green image to make you more attractive to eco-conscious consumers. For Platinum Electricians, something as simple as ensuring waste and environmental changes are minimised on jobs makes a big difference to not only the money we spend, but on the way we feel about our impact on this earth.

For a company like DuPont, one of the early adopters, a commitment to a 65% reduction in greenhouse gas emissions between 2000 and 2010 saw them saving $2.2 billion a year by 2007.

See, profitability can come from going green.

Going green and saving on everyday costs

If reducing your impact on the environment isn’t a big enough motivator to get your business turning green, then the savings on costs should be. By going green you can spend less money on;

Paper

Australian businesses generate an average 1.7 tonnes of waste per employee – yet only half of that is being recycled. Isn’t it time you point this out to staff? Getting the whole team involved in environmentally friendly practices can help you avoid using materials unnecessarily, and can help ensure that products are reused and recycled properly. Printing double-sided and using scrap paper for notes means less money spent on paper.

Energy

For businesses with large office spaces and warehouses, energy often accounts for a significant chunk of total overhead expenses. An investment in solar panels may seem like an expensive investment, but over time the payoffs can be amazing. Solar panels have dropped significantly in price over the years, and with government incentive programs, solar panels simply make sense. Business owners report energy bill savings of anywhere between 50% and 90% per month, meaning if your monthly bill is currently $2,000 per month, that’s a saving of up to $21,600 in just one year.

Training staff

Today’s employees are looking for companies that care about sustainability and green practices. By showing employees you’re environmentally conscious, you develop a more loyal company culture. Even something as simple as installing energy efficient appliances and lightbulbs can make an employee feel good about their place of work, keeping them in your office longer and strengthening your retention rates. Hiring new employees can cost as much as $5,000, so it pays to have loyal long-standing staff.

Platinum Electricians is committed to providing high quality products and services in a manner that will protect the environment, and we’re committed to conducting our activities in ways which will;

  • Improve awareness and management of environmental risks
  • Prevent pollution
  • Fulfil compliance obligations
  • Promote waste minimisation
  • Continually improve the system to enhance environmental performance

This clear policy direction for environmental issues and objectives contains measurable targets and establishes a system for auditing monitoring and reporting performance. Responsible management of environmental issues is part of the glue that holds Platinum Electricians together.

Advertising

Being green can have a significant impact on the local community, and most communities and neighbourhoods will appreciate your sustainability efforts and thank you for it with custom. Committing to local groups or organisations and aligning yourself with local initiatives strengthens your reputation even further, and the more green you go, the stronger your brand gets. Why pay for advertising if your green reputation does the talking?

Lighting

LED lighting is extremely cost effective for businesses and municipalities. Just take the City of Los Angeles, who are saving $5.3 million each year thanks to a Green LA initiative that’s seen 114,000 high pressure sodium street lights replaced with LED lighting. While a typical incandescent bulb uses 60 watts of power to generate light, the current state of LED technology can produce the same light for less than 10 watts.

Growing your business and helping the environment

Next time you hear sustainability and profits in the same sentence, don’t roll your eyes and dismiss the idea. Going green is a responsible path to pursue and it really will serve you and your business well in the long run. Upgrading the electrical systems in your house can be a great way to save electricity and reduce emissions. Contact Platinum Electricians for a free consultation about your home today.