From material and staffing costs, to environmental and social costs, going green can save your company money.
Here are four key ways you can do it.
1. Find a renewable energy supply
There are many different renewable energy sources available, such as wind, water, sun and even waste. If your company can use and harness these supplies, it can often be cheaper than traditional energy sources.
In Australia, hydropower is the most readily available renewable energy source, with the highest solar radiation per square metre of any continent. In fact, hydroelectric power is also the cheapest renewable energy source, most of the time being cheaper than burning fossil fuels.
2. Reduce your carbon emissions
The first step in reducing your emissions is getting a carbon audit for your company. There are businesses and apps that can help you calculate your carbon footprint and figure out how much you need to reduce and offset to become carbon neutral.
Pathzero is a simple, online platform that enables businesses to make chosen activities, products or services carbon neutral. We recommend using it to help develop a carbon reduction plan in conjunction with your sustainability team within your organisation.
3. Partner with other socially conscious companies
By having a good reputation and an environmentally conscious company, you will inevitably attract interest from investors with the same ethos. This opens up great opportunities to partner with like-minded companies, or even a charity partner.
For example, you could have a policy of only using green suppliers, only partner with other sustainable companies and use your business' voice and influence to engage in positive, public conversations about these topics.
4. Attract and retain the right staff
Being a socially responsible company is very attractive to the younger generation. Research shows that many Gen Z employees will prioritise working for a company with purpose over a higher salaried job. So, remember to practice what you preach, and walk the sustainability walk to recruit the best staff and keep them there once you have them.
By going green, your company is doing right by the environment and future generations, with the added bonus of saving you money. If your business is ready to make the changes necessary to improve the bottom line for your company and a better world for us all, we recommend starting by switching your energy to 100% renewables. Find out more at our Energy hub.
Image by Daria Pimkina via Unsplash.