If you are thinking of going green business because of the perceived benefits, then you are not alone. You are on the same page with the big boys who think that going green is a top priority for the survival of their businesses.
Going green can help you reduce the total costs of utility, begin the business of recycling, and reuse procedural programs.
Going green seems like the best thing to do, but do people know what it means to go green?
We certainly do not mean the “incredible hulk” going fully green with anger after realizing that “Mrs. Hulk” ran off with Superman to Kryptonite.
Going green is big business. So, what does it mean to go green for businesses?
What does it mean to go green in business?
Going green means the use of environmentally sustainable, materials for your business. And cutting back on the use of products that are also harmful to the environment.
A green business uses environmental processes and sustainable materials to carry out its operations.
The objective of green businesses is to minimize the consumption of energy, water, and raw materials as they possibly can.
They also look to cut back on their total carbon emission, while looking for the best ways to use materials in more environmentally friendly and renewable ways.
Therefore, with this approach, the company’s use of natural products and involvement in climatic change is minimized.
Going green still means that the company also gets to reuse any raw material or energy that is generated.
Understanding the go green business plan
So, you plan to adopt recycling wastes and other eco-friendly processes with your company, well you will certainly need a good business plan for that.
The green business plan is primarily different from the traditional business plan.
Technically, the green business plan also ensures increased company revenue, however, they prioritize minimizing the environmental impact of the company over maximizing their profit.
This may restrict the use of carbon-based fuels in favor of solar panels as well as other procedures to minimize the consumption of energy.
The benefits of going green for a business
Going green is no longer something we theorize about, rather this is the time to put this in practice.
While many companies still dragging their feet, this is why businesses should go green.
1). Improved competitive advantage and improved brand image
A reliable consumer researching body discovered that people have an increased chance of 58% to buy products/services from your company.
Also if they know that your company is more mindful of the environment and adopt eco-friendly processes.
The studies also revealed that people have a higher chance to spend about 20% buying products/services that are environmentally sound.
2). Reduced costs and increased productivity
There are lots of current adopters of green processes that have seen more revenue and increased operational efficiencies.
It is more sensible when you think that better conservation and utilization of resources leads to drastically reduced costs and a smoother operation.
3). Improved investment and financial opportunities
Investment and financial analysts know that sustainability models for efficient energy.
And reduced environmental impact are essential criteria for evaluating the qualification of companies for rewarding opportunities.
A recent Goldman Sachs research showed that companies from six different industries thought to be leaders in environmental, governance, and social processes had performed more than others generally.
Another study carried out which profiled 175 different leading finance executives revealed that over half of these think that their organizations will improve their profitability through improved and strong eco-friendly initiatives.
4). Increased preparation for future costs and legislation
A recent report by Ernst & Young states that the need to be ready for stricter environmental laws and maximum energy costs is also important highlight of the Top 10 business risks for businesses.
In 2020, it has been forecasted that organizations will legally be needed to minimize their carbon footprints by 25%.
Moreover, the figure is also expected to rise to something in the neighborhood of 50-80% in 2050.
This projection will certainly have an impact on energy costs and availability, which we expect to grow by double in the upcoming decade.
5). Improved hiring and retention of dedicated and skilled employees
It has been seen that people prefer to work with organizations that they feel are doing the right things.
Based on a report by Adecco, roughly 52% of gainfully employed adults think that their companies ought to be familiar with environmentally-friendly processes.
Sustainable processes are now vital criteria in finding out how ethical and socially aware its workforce is.
Creating a plan for corporate social responsibility is among the leading five internal processes that ensure that the corporate culture of an organization is ethical.
6). Healthier environment for employees to work
When you choose more sustainable products, you have the extra advantage of having a people-friendly and planet-friendly product.
One good example is eco-friendly cleaning materials which are made from plants and biodegradable do not have any hazardous artificial chemicals.
With this, they are less likely to become risky to your employees’ health.
This often leads to a healthier and happier staff.
Examples of businesses going green
Going green seems to be a win-win situation for your organization and the environment.
We have noted some of the companies that have successfully gone green.
This means that have now adopted sustainability to be an important part of their core operations.
McDonald’s is a lead organization in the quest for businesses to go green.
Rather than storming the natural environment to get animals, the company had partnered with PETA to help systematically execute its business operations.
Similarly, around 2012, the company had stopped using the foam coffee cups and changed them to paper containers that come with fully recyclable components.
DuPont is one of the companies that have taken a giant step towards sustainable processes.
Apart from minimizing your greenhouse gas emission, the company has appointed a known green expert.
DuPont has remained firm to its word while it has efficiently minimized its greenhouse gas footprint by an amazing 63% which is far ahead of the projections of some green advocates.
3). Coca Cola
Coca-Cola rolled three environmental goals to help steer their green business processes – sustainable packaging (recycling plastic), energy & climate protection, as well as water stewardship.
With these important objectives, the company has been actively involving in recycling programs and has been able to create sustainable packaging designs within a few years.
Before they went green, Walmart was berated for their activities that contributed adversely to the community.
However, this has all changed now as the company has just begun a long-term program to power up its chain of stores with the use of completely renewable energy sources.
The franchise uses its corporate philosophy on eliminating wastes to make its processes to be increasingly eco-friendly compared to how they were previously.
Dell plays in one of the most hazardous industries in the world, as electronic equipment is very difficult to properly dispose of.
However, the company upgraded its sustainable policies to help improve things.
Dell then went to roll out a recycling program – no computer should go to the waste recycling program.
This made it possible for its customers to bring back every branded product to the organization free of charge.
Dell also went further to create programs to accept computer components from other brands to be disposed of safely.
Brooks is an organization that jumped on the “going green” bandwagon through the launch of its biodegradable jogging shoes.
As a company that supports programs like recycling plastic, so it created products that are friendly to the environment.
When discarded, the shoe does not begin to decompose until you have stored the shoe in a landfill that has been actively enclosed.
The shoes take only 30 years to fully decompose rather than the original 1000 years that the usual ethylene-vinyl acetate soles take.
Green ideas to make your business more environmentally sustainable
In a quest to reap the full benefits of the green corporate movement, many businesses are looking for means to jump on the green bandwagon to boost their ratings.
If you are one of the proactive businesses looking to go green without any major disruption to your day-to-day routines, the following basic practices are the best way to start small on your journey of going green:
1). Ignore your car for the moment:
You can encourage your employees to leave their cars in the house and consider other means of transportation.
They could use bicycles, walk, or use a carpool as a means to get to work. This is an eco-friendly way to reduce the carbon footprint in a location.
2). Choose green procurement:
Green procurement is an eco-friendly way of performing your supply chain duties without necessarily endangering the environment around you.
This means that you choose to get your products and services from businesses that produce them in an environmentally sustainable manner.
This means that you:
- You get products that are produced sustainably.
- Do not have toxic substances or elements that deplete the ozone.
- Products like any plastic that you can recycle.
- Product that is made from renewable products.
3). Recycle your electronics:
Just like any plastic, electronics come with products that you can recycle. So do not forget that recycling is an eco-friendly practice which your business can adopt on its quest to go green.
There are different ways that you can recycle your electronics such as donating or participating in different recycling programs and schemes. HP and Dell both have recycling programs for old PCs and electronics.
Other excellent recycling programs that are recommended and eco-friendly are Staples, BestBuy, and eBay for Charity.
4). Encourage the recycling of plastics:
Plastic is such a threat to the environment that the only eco-friendly means of disposing of plastic is through recycling.
Hence, you can decide not to burn or dispose of any plastic in your business area.
Rather look for good ways to get this plastic to renewable organizations that help reuse the plastic and make it into something new and usable.