Guest article by Adalyn Trista
When it comes to managing business, we always want what is best for our target market, and as it turns out, consumers are now more drawn towards sustainable companies. In the 2014 Green Survey by Tiller, it revealed that there is a growing number of consumers interested in doing business with eco-friendly companies. But, it’s not only the consumers who are attracted to sustainability. Soon, the whole industry will make the switch due to its great financial benefits.
Here are some ways through which being eco-friendly can help your company financially:
Conserving equals more money saved
There are three R’s that you need to remember when implementing your sustainable projects: Reuse, Reduce, Recycle. These three objectives will help your business in saving more money in the long run. Reuse means you will not purchase new items when the old one is still functioning, while Reduce helps in lessening your monthly bills. Meanwhile, Recycle can assist your business financially by selling old, still working items to other companies who might be in need of it. This can bring in more profit to your business, while disposing of old office items in a more efficient way, instead of keeping them stuck in your storage rooms.
Renewable energy is cheaper
Compared to oil and gas, we have seen a consistent drop in the price of renewable energy. By January, experts predict that its cost will drop by 40% in the next few years, and will not likely be affected by the plummeting oil price. If there will be a global switch from the fossil fuel to the sustainable power, then economies will also shift their focus. It has been known that most developed nations are greatly affected by the oil and gas industry. In fact, FXCM said that the US Economy is highly influenced by the volatile price of oil, as they are known to be one of the top consumers and producers of fossil fuel. In 2014 alone, America produced 13 percent of the world oil output (11.5 million barrels daily) and consumed 20 percent of the world output (19 million barrels daily). Shifting to sustainable energy can help the economy and your industry all together.
Less is more
One significant green project most businesses have implemented is the switch to post-consumer waste by skipping paper entirely whenever possible. As companies become more technologically-dependent, it becomes easier to avoid printing documents as you can easily attach files directly to an email. But, there are some documents that still require to be printed, so we suggest using eco-friendly paper with 100% PCW labels. When it comes to lights in your office, consider compact-fluorescent (CFL) or LED lights. Both are more expensive than the standard incandescent bulbs, but they last longer while using far less energy.
But, making the switch is not that easy. It requires plenty of engineering, auditing, analysis, and management to achieve the eco-friendly status. The experts at The Energy Alliance Group of Michigan can host the said solutions by identifying potential areas through energy audits, cost recovery services, e-waste recycling programs and more.
Photo Credit: Andrea Boldizsar
Exclusive for The Energy Alliance Group of Michigan
Written by Adalyn Trista