Green Business Bureau Blog
5 Ways A Green Initiative Can Improve Your Company
Going green is clearly a growing trend that is likely here to stay. There are a growing number of companies that are going green, and hugely benefiting from it. Whether the company goes paperless or installs solar panels, these companies are making waves in the way that corporations run. The benefits of going green are starting to outweigh everything else for many large companies.
1. It Enhances Public Relations
Let’s be honest, we all like to hear about the good things that companies are doing. There is so much negativity about corporations that hearing the good things is a breath of fresh air. The positive publicity that companies are getting for going green helps bring in business and improves the feeling that people get when thinking about these companies.
Take Walmart, for example. Many people dislike the large corporation due to reports of unfair treatment of employees. However, over the last few years it has started improving its environmentalist efforts, and in turn improving how the public views it. Walmart has started installing solar panels on the roof of its stores, cutting back the amount of fossil fuels being used to run them. Since this is such a massive company with thousands of stores, the amount of energy used is enormous. With the installation of solar panels, Walmart is showing communities that it cares about the impact it has on the environment and local community.
2. It Improves Branding
When you’re able to say that your company is going green and making environmentally conscious decisions in any capacity, it’s going to improve your branding efforts. People like to make purchases from companies that use environmentally friendly practices in production or produce green products because it makes them feel good about what they buy. When you go green, you can show customers that you’re trying to make a difference and by purchasing your products they are helping you make that difference. This gives your brand a boost, and gives all departments a new angle to work with. There are a number of websites and blogs dedicated to getting brands out there that are as green as possible. Getting your name on one of these can help your brand become more recognizable as green friendly.
3. Bring in Better Talent
Image via Flickr by Victor1558
Many young professionals today are interested in working for companies that have an interest in the environment. If you’re trying to decide between two different companies, one of which has gone green and the other hasn’t made an effort, a large number of the younger generation of workers will prefer the green company. The more you cut back on waste and improve your company’s carbon footprint, the more you’re going to attract great talent.
4. Monetary Benefits
There are a number of monetary benefits to gain when your company starts to go green. If you install numerous solar panels, you may create excess power that you can sell back to energy suppliers. In most cases, this will be seen as a credit on the energy bill, and you’ll be able to use that credit in times when your panels simply don’t create enough power. This has the potential to save you a significant amount of money in the long run.
In addition to selling power back to the grid, the government gives tax credits for green companies that are making a considerable effort to change the way their company runs. You will need to fit a number of criteria, but the efforts will pay off when tax time comes around. There are federal credits, and many state and local tax credits as well which are meant to help encourage companies to go green, and to stay that way, as it benefits everyone in the community.
5. Help the Environment
The biggest reason that companies are going green beyond all the marketing and sales advantages is that it is a lasting and positive effect. There are a number of issues with our environment today, and corporate industries contribute to many of them. Many companies are taking small steps and implementing less costly policies like cutting back on the paper they use. Between 2000 and 2005, Bank of America increased their customer base by about 24 percent, but they were able to cut back their paper usage by about 32 percent during the same time period.
With so many reasons to go green, it’s not surprising that many of the largest companies in America are looking for the best ways to reduce their carbon footprint. From using energy-efficient products in the office to creating power through wind or solar energy, these companies are making a difference in the way they are perceived and the way they run.