Sustainability has dominated headlines in recent years. The conversations surrounding global warming and reducing our carbon footprint are becoming more heavily discussed as the urgency increases.
As many individuals search for ways to live more sustainably, companies face greater calls for action on climate change. Over half of consumers in the UK reportedly believe that companies should start acting on climate change immediately. Slowly but surely, this demand is being met as many companies begin implementing ways of operating more sustainably and taking steps towards becoming greener businesses.
There are several reasons why more modern-day companies especially in the IoT space, are starting to go green.
Consumer and Business Demand
Companies are continually searching to keep their business relevant to offer services and products that consumers or other businesses want. A business that is relevant and up to date is more likely to remain in operation. Business leaders want to find ways to improve their company to keep them up to speed with the current industry trends and meet their customers’ expectations. And one of the main qualities consumers look for in a business is how the company is reducing their carbon footprint and being as sustainable as possible. More consumers are choosing to invest and purchase from companies that share the same values as they do on sustainability and climate change. In this is also true in a B2B market. More businesses are looking for ways to go green to meet this new demand. Going green helps them to reduce their carbon footprint but it may also contribute to reduce their operational costs (lower energy consumption for example).
Market The Business
Implementing ways to become greener can be appealing to consumers or to other businesses (in a B2B market). It can help a company to generate new leads through a differentiated, greener and more sustainable offer than their comptitors. Companies that have implemented greener methods must show their changes to use this to their advantage.
If a company has implemented new practices to help make it a greener business, this can be used in the marketing campaigns to help generate new leads. This effort should be used by their marketing team to help them build a positive brand image.
Understandably, businesses want to save money. One way they can achieve this is by making the business more energy efficient. Finding ways to lower energy consumption in the workplace can help companies to save on their utility costs. It could be by investing in energy-efficient appliances, sensors and automated systems to prevent unnecessary electricity or water consumption. Switching to energy-efficient equipments and technologies might come with high expenses initially but in the long-term, it can help the company save money on their utility bills.
Ways Businesses Are Becoming More Sustainable
Each company will likely have its reasons for wanting to become more sustainable. The underlying cause is to help them reduce their carbon footprint and be a greener business. The reasons previously mentioned are additional points that help to motivate companies further to implement ways to be greener.
There are multiple ways for companies to go greener rather than just switching appliances. Here are other ways that businesses are becoming more sustainable.
Sustainable Supply Chain Management
A company’s supply chain is influential to how the business operates. Finding ways to make the supply chain greener is something many business leaders are hoping to achieve. Learning about green supply chain management is one way to improve the supply chain and help make it more sustainable. It is worth looking at the University of Cambridge Sustainable Supply Chain Management online short course to discover more about what tools and strategies business leaders could implement into their current supply chain. From the lessons learned, they can use new technologies and knowledge to make alterations to help with supply chain sustainability.
Switching To Sustainable Packaging
Along with creating a greener supply chain, business leaders should also consider the packaging of products. Businesses that sell and ship products should look into switching to sustainable packaging. Selling and shipping products use significant amounts of energy but also material.
Some of these materials used for packaging are not recyclable. Fortunately, there are sustainable options available. Recycled paper and cardboard are the most popular choices for businesses. Switching to sustainable materials offers business leaders another way to show consumers how they are trying to be greener.
Offer Remote Working
Working from home divides many employees and employers. Research suggests that 85% of employees prefer a hybrid approach to work. The hybrid approach is working from home some days and in an office for the rest. Older age groups reportedly prefer to work solely from home, whilst younger generations would rather be in an office.
Companies that want to be more sustainable might consider the work-from-home approach. Employees do not need to commute to work, which helps to reduce the total number of cars that are out on the road. It also means that businesses do not need to rent office space, which helps to reduce the waste produced. Some employees find that working from home allows them to be more productive.
Implementing strategies to become a greener company is a trend that will likely continue for the foreseeable future. As more action is needed, companies are answering these calls for more sustainable businesses. The reasons and strategies mentioned are just some ways modern companies are trying to become more sustainable.