Has your business taken any measures to operate more sustainably? Or are you planning on putting a sustainable strategy in place?
Aside from the corporate social responsibility angle, businesses in the UK are experiencing tangible commercial benefits after investing in green technology.
Recent research by Barclays revealed that 75% of UK businesses enjoy commercial benefits after going green. This applies to both large corporates and small businesses.
The evidence suggests that investing in green, sustainable measures is not only an ethical decision, but also a profitable one. Although there can be costs involved when implementing greener infrastructure, these have shown to be more than offset by the resulting economic benefits.
In fact, the Barclays survey found that over one-third of businesses reported a drop in business costs thanks to their green investments. Twenty-seven per cent also believe that their actions would help their company gain “environmentally responsible” status in the marketplace.
3 benefits of going green
- Reduce waste and save money by using your resources more efficiently. An example would be unplugging devices when not in use.
- Qualify for government grants and tax breaks –such as reducing your Climate Change Levy by up to 90%.
- Generate positive PR – Improving your company’s reputation by showing dedication to sustainability can have an indirect effect on your bottom line. More than ever, customers care about the general behaviour of the brands they choose to buy from.
What holds businesses back?
Barclays’ study suggests that more can be done by the authorities to make green investment more attractive, particularly for smaller firms:
- Only 19% of survey respondents cited regulatory demands as a driver of investment
- One third said that financial concerns are a barrier to implementing sustainable
- 19% said that they hold back on green investment due to a lack of funds
- 16% cited concerns over returns on investment
Where to start when going green
When it comes to implementing green practices in your business, using energy more efficiently is a good place to start. Energy efficiencies can be realised through quick wins – such as replacing all light bulbs with energy efficient alternatives – as well as longer-term strategies identified through close energy management and monitoring over time.
Looking for ideas for saving energy at your business?
Read these guides from business energy broker Smarter Businessfor helpful hints and tips:
- Ways to Save Energy in the Office
- Your Business Energy Saving Guide
- Saving Energy for Small and Medium Businesses