Large companies such as H&M, BMW, Siemens, and even banks like BPN focus on sustainability, winning awards and documenting their environmental successes. Consumers have come to expect this kind of corporate responsibility. In a recent Statista study, the most significant proportion of respondents said that the presence of a climate protection seal was very important or essential for companies. In contrast, only 9.6 percent said that a seal was unimportant.
Sustainability affects the company wallet - in a positive way
Convincing new customers and strengthening the loyalty of existing customers is an important reason for companies to act with the environment in mind. However, there is an even more tangible reason to make companies more sustainable: It’s cheap to integrate and has the potential to save money in the long run,
- Sockets with switches save electricity, and no lights need to be on in rooms that are not in use.
- Digitization saves vast amounts of paper and storage space, and fewer stamps are needed if mail is sent electronically wherever possible. Most invoices today can be requested in digital form only. The paperless office is the office of the future. For more tips on digitization in the workplace, check this article out
- Bicycles and public transport passes are cheaper than a company car, and those who enable their employees to work from home save huge amounts of money. Meetings with colleagues can take place online to save on emissions, travel costs and travel expenses.
Sustainability is subsidized
Depending on your company's location, programs may be available to you. Many countries, counties and cities offer great opportunities for small businesses to go green. So it's worth considering what adjustments can be made.
Modernizing the workplace or overhauling the vehicle fleet are just two examples of potential assistance available - It's worth checking not only the internet but asking local officials for pointers where to look and inquiring with banks to see if they offer specific loans for sustainable ideas.
Both customers & employees value sustainability
The vast majority of consumers would like companies to operate in a more sustainable and environmentally friendly manner - a total of 89 percent ("Sustainability in Focus" Rothmund Insights, February 2021). A study by LBBW Research found that companies in the consumer and retail sectors that operate sustainably increase their EBIT margin.
Customers are happy to pay more if sustainability is guaranteed
Most consumers (64%) plan to pay more attention to the environmental impact of what they consume, and 44% of customers are happy to pay more in return for sustainability.
The trend that is emerging among customers is extending to employees as well. In a 2020 IUBH study, 56.5 percent of respondents said they value an employer that acts sustainably. Young people place a particularly high value on how sustainable their employer is.
How do customers find out about environmentally conscious measures?
Various seals (like the Bluesign, Fair Wear, Cradle to Cradle - the list is endless!) help consumers find sustainable products and service providers - from textiles to vacation trips. Companies can report on what they are doing to protect the environment on their websites and with the help of social media.
Convincing new customers and strengthening the loyalty of existing customers is an important goal. However, there are even more tangible reasons to make companies more sustainable. Some steps are in fact easy on the wallet. Sockets with switches save electricity, and no lights need to be on in rooms that are not in use. Digitization saves vast amounts of paper and storage space, and fewer stamps are needed if mail is sent electronically wherever possible.
Most invoices today can be requested in digital form only. The paperless office is the office of the future. Bicycles and public transport passes are cheaper than a company car, and those who enable their employees to work from home save huge amounts of money. Meetings with colleagues can take place online to save on emissions, travel costs and travel expenses.
Sustainability is subsidized
Depending on where your company is located, programs may be available to you. Many countries, counties and cities offer great opportunities to small businesses, wanting to go green. So it's worth considering what adjustments can be made. Modernizing the workplace, overhauling the vehicle fleet - resourceful entrepreneurs can research online to find out which subsidies they are entitled to.
It's worth checking not only the internet, but asking local officials for pointers where to look and inquiring with banks to see if they offer specific loans for sustainable ideas.
Sustainability helps the planet and the business
Ecological business management is not only good for the planet and the conscience. We are leaving a better world for future generations and can also score points in the classic entrepreneurial sense, gain customers and increase sales. Seals let potential customers know how environmentally friendly your company is.
But the right seal is not available for every good deed. In that case, it is worthwhile to use your own website to tell customers about the steps you have already taken toward a healthier earth. Customer reviews also offer space for feedback. For example, ask your customers to also review environmental issues if they are close to their hearts. That way, your reputation will soon be a good, green one.
Social media are an excellent way to address your corporate responsibility and build trust online.
Summary
Sustainable companies benefit the planet AND their wallet
- Large companies such as H&M, BMW, Siemens, and even banks like BPN are focusing on sustainability, winning awards and documenting their environmental successes
- Customers are happy to pay more if sustainability is guaranteed, and the trend that is emerging among customers is extending to
- There is an even more tangible reason to make companies more sustainable:It’s cheap to integrate and has the potential to save money in the long run
- Many countries, counties and cities offer excellent opportunities to small businesses wanting to go green
