It’s certainly no secret that the way British companies operate needs to change. With the effects of climate change now clearer than ever before, British companies must shift to become more carbon neutral in order to have a sustainable future and provide services that have value for both the earth and the customer.
One way that companies can do just this is through something known as green growth strategies? But, should companies across the UK be embracing them? Here are three reasons why it might be in the best interests of your business to change to a more eco-friendly model.
Reduce your operating costs – If a business can alter its energy consumption and usage, it’ll more than likely lower its overhead costs, which in turn leads to higher profits. It’s important to remember that although changing the amount of energy you use does have large environmental impacts, it also has positive business impacts, too. So it’s not a change you’re making purely for the environment; although that should also be a consideration.
As part of this, switching to renewables may seem like it has a high up front cost, but you’ll regularly be saving money once you convert, leading the green charge.
Develop new income streams – research from the Carbon Trust has revealed that 65% of customers now feel that it’s important to buy from firms who are environmentally responsible. By showcasing green credentials, companies will open themselves up to these new customers, with advertising playing a key role in conveying the message.
This will in turn strengthen the reputation of your business, as is outlined in this TNT blog post which gives you great ideas on how to get started in making your business more eco-friendly.
Comply with regulations – Although using green growth strategies can both reduce your operating costs and develop new income streams for your business, you have to ensure that you comply with regulations. Otherwise, you could get a nasty surprise.
Current UK and EU legislation is designed to reduce the carbon emissions of the UK and Europe, so your business shouldn’t run into any problems by ‘going green’ and, if anything, it may help you meet what some people believe are ambitious targets.
So there you have it, simple ways that adopting a green growth strategy can help you and your business. Remember to check legislation in your business to ensure that you’re in line with what’s expected from safety standards but, as long as you plan effectively, your green revolution stands a great chance of being a success.