Benefits of Becoming a Sustainable Business

Although each company has their own reasons and motives for being more sustainable in business,
here are a few of the primary benefits to becoming a more sustainable company.

Enhance Brand and Increase Competitive Advantage

The Natural Marketing Institute (NMI) has found in their consumer research that knowing a company is mindful of its impact on the environment and society makes consumers more likely to buy their products or services. “Consumers are more interested in aligning their personal values with the brands they buy. If consumers are aware that companies are mindful of their impact on society and the environment, it positively impacts their repeat purchasing behavior.” This demographic according to Cone Communications is roughly estimated at 86% of U.S. consumers who make purchasing decisions based on their personal, social and environmental values.

Increase Efficiency and Reduce Costs

Through development of more sustainable business practices, efficiency in operations will increase. With better use and conservation of resources, operations will be streamlined, and costs will decrease.

Improve Financial and Investment Opportunity

Improve Financial and Investment Opportunity Financial and investment analysts have recognized companies who have developed sustainability plans with regards to energy efficiency, carbon emissions and natural resources are important evaluator criterion. According to the report on U.S. Sustainable, Responsible and Impact Investing Trends, the market size of sustainable, responsible and impact investing in the U.S. in 2020 is $17 trillion, a 42% increase in two years.

Minimize Climate Risk and Improve Energy Efficiency

In Allianz Risk Barometer report on the top business risks they continually highlight increase in natural disasters (due to climate change) which disrupt business as one of the top four business risks. The U.S. is the world’s second largest carbon contributor, after China. A key benefit to becoming a green business is reducing a company’s carbon output and improve energy efficiency. Increase Employee Retention and Recruitment Employees want to work with companies who are ‘doing the right thing’ and being proactive with corporate responsibility both with environmental and social programs. According to a Deloitte study, they found in particular Millennials are willing to sacrifice a portion of their salary to work for a company that is sustainable.

Increase Employee Retention and Recruitment

Employees want to work with companies who are ‘doing the right thing’ and being proactive with corporate responsibility both with environmental and social programs. According to a Deloitte study, they found in particular Millennials are willing to sacrifice a portion of their salary to work for a company that is sustainable.

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