A growing number of companies — from small firms to large enterprises — are taking a close look at their processes, practices, supply chains, and vendor rosters to discover more eco-friendly ways of doing business. According to Diamond Environmental Services, a leading multi-multi environmental services provider that serves customers throughout Southern California, here are the seven key benefits of green solutions for businesses:
1. Reducing Environmental Footprint
Businesses that adopt green solutions — for example by switching to LED lighting, using green cleaning products, eliminating single-use plastic bottles, minimizing printing, installing energy-efficient HVAC and hot water systems, and the list of beneficial possibilities goes on — reduce their environmental footprint, which leads to a cleaner, healthier community.
According to a spokesperson from Diamond Environmental Services, which is headquartered in San Marcos, CA and has offices throughout Southern California in San Diego, Perris, Indio, Fullerton, Hesperia and Huntington Park: “Many of the eco-friendly improvements that businesses can make are simple, practical and affordable to implement. There are also government incentives that help offset installation costs for larger projects, such as the Business Energy Investment Tax Credit, the Solar Investment Tax Credit, and various tax deduction opportunities for making improvements to buildings and offices.”
2. Increasing Competitive Advantage and Customer Loyalty
Over 70% of consumers think that it is important for brands to adopt sustainable and eco-friendly practices. And more than a third of all consumers are willing to pay more for products and services from businesses that demonstrate environmental leadership. Today’s customers, especially those in younger demographics, either strongly prefer or outright demand that the businesses they choose demonstrate environmental awareness and leadership, and make an authentic effort to support sustainable practices. Businesses that respond to this demand are building large and fiercely loyal customer communities, where members serve as inspired brand ambassadors.
3. Lowering Costs
Many businesses that explore the possibility of “going green” pleasantly discover that doing so won’t just help the environment and generate customer loyalty — it will also save them a considerable amount of money. For example, LED lighting typically uses up to 80 percent less energy than traditional incandescent lighting, and can last 25 times longer. Using less paper and more reusable products can also reduce expenses and ultimately boost the bottom line.
“Traditionally, many businesses have avoided adopting eco-friendly practices and products, because they assumed it would force them to absorb significant new costs — which would either severely cut into their profit margins or force them to raise prices and risk losing customers,” claims CEO of Diamond Environmental Services Alex Fortunati. “However, in many cases the situation is the exact opposite. Naturally, there will be some notable up-front costs for projects like switching from incandescent lighting to LED lighting, or installing an efficient hot water system. But over time these pay for themselves through ongoing utility savings, plus businesses can highlight these efforts in their marketing and advertising which can help them generate new customers.”
4. Winning More Bids
A growing number of entities in both the public and private sector that invite proposals (RFPs) from suppliers, vendors and contractors are asking about an applicant’s environmentally sustainable practices and policies. Businesses that can demonstrate their leadership in this area significantly improve their chances of winning the bid. At the same time, prospective investors are starting to scrutinize how businesses address climate risk, and are using this information to determine whether they write a check or look elsewhere.
Potential funding sources — whether they are in government or elsewhere — want to clearly know what a business has done, what it is doing now, and what it plans to do in the near future with regards to environmental sustainability. Businesses that have a comprehensive and compelling answer to this inquiry set themselves ahead, while those that struggle to answer this inquiry will find themselves outpaced by their more eco-aware competitors.
5. Improving Recruitment and Reducing Turnover
A 2019 survey found that 70% of people want to work for a company with a strong and authentic commitment to reducing their environmental impact. What’s more, nearly half of those surveyed would be willing to take a pay cut — some even more than $10,000 per year — to work for an environmentally responsible company.
Just as consumers want to know that their buying choices have a positive impact on their environment, employees want to know that their efforts are contributing to a company that is making the community a cleaner, greener place for current and future generations.
6. Improving the Work Environment
Companies that improve interior lighting by switching to LEDs and swap conventional chemical-laden cleaning products for 100% plant-based cleaning products foster a healthier workplace, which translates into happier, healthier and more productive employees. Employee sick leave costs businesses billions of dollars a year, and many businesses are now experiencing an epidemic of presenteeism, which happens when ill employees show up to work and, naturally, cannot function at their full potential. Businesses that adopt green practices don’t just make the planet healthier, but they make their workplace healthier as well — which benefits employers and employees alike.
7. Establishing Business Relationships
Businesses that strive to help the environment open the door to relationships with like-minded companies in a variety of sectors and industries. This can lead to mutually strategic relationships and opportunities for cross-promotions, marketing, fundraising sponsorships, and more.
According to a spokesperson from Diamond Environmental Services: “Social partnerships that foster sustainability help the environment, while they boost team morale and uplift communities.”
The Final Word
In the past, going green was largely viewed as optional — which is why the vast majority of businesses took a pass. Truly, it’s not that they were anti-environment or socially irresponsible. Rather, “going green” was not seen as a mission-critical priority; and on a hectic and sometimes chaotic business landscape, it was continuously pushed down the agenda. However, these days demonstrating environmental leadership is not a preference, but a requirement — especially in the minds of increasingly eco-aware consumers across the B2B, B2C, and B2G spaces.
Businesses can no longer afford to sit on the sidelines and watch their competitors reap the rewards of adopting green practices and solutions. Instead, they need to be proactive and take a leadership position. The good news is that heading in this direction is more practical and affordable than ever before. Businesses that don’t know where to start will find an abundance of resources available on the web, or they may want to work with a consultant or firm that specializes in this area. The important thing is that they shouldn’t delay.
