Executive Chronicles| 5 Ways Your Company Can Save Money by Becoming More Eco-Friendly |People have been aware of the environmental issues for decades now. We are happy to observe, however, that the green movement today probably has the widest reach and greatest strength ever since its inception in the ‘70s. One of the reasons behind this surge is, of course, the increased environmental awareness we can find in modern society.
However, we have to point out that, in order for any global movement to take stronger roots, it has to be financially viable for people running the industries. Green companies have finally come to the point where they can outpace their competitors by simply going green.
Here are a couple of ways how your business can join their ranks.
Update the lighting throughout the premises
This topic has already been talked about to death in regards to green upgrades, but be that as it may, switching the obsolete incandescent bulbs for their much more energy-efficient LED counterparts still represents one of the easiest and most efficient ways to make your company more eco-friendly. What numbers are we talking about here? Well, according to a recent report, LED bulbs use as much as 75% energy less than incandescent options and last up to 25 times longer. These energy savings are not negligible and produce excellent benefits in the long run.
Going paperless and moving documents to the cloud
This fact may surprise you but as much as 3% of your company’s revenue is spent on paper, filing, printing, storing, and data maintenance over the course of a year. Also, up to 50% of the waste of an average company consists of paper. Keeping all this in mind, striving to turn your offices paperless won’t only cut the volume of waste your company leaves behind but produce tangible financial benefits as well. We won’t spend too much time talking about the advantages of cloud computing since that is a topic for another article. Still, this transition can make your company leaner and more competitive.
Harness the power of solar energy
Although they were considered expensive technology for a long time, solar panels are slowly but steadily taking over the energy playing field. That can, to a large extent, be contributed to national initiatives all around the world to make renewable energy more accessible. Take for instance Malaysia – a new booming business hub. Local authorities there have started an ambitious project of increasing the national renewable energy share from 2% (2018) to 20% by 2025.
The planned incentives should allow local businesses access to solar panels, quality solar inverter, and other equipment necessary for producing clean, affordable, and renewable energy. Your business can easily join this movement by using incentives and rebates offered by the local authorities. You only need to do a bit of research.
Use water dispensing systems
Although clean, renewable energy makes the crux of the contemporary environmental movement, this whole issue is far more complicated than that. Preserving clean, usable water makes another important step on the road to a sustainable world. Of course, supporting this cause and installing low-flow fixtures and water dispensing systems throughout the premises can bring your company some financial gain as well.
Let us illustrate this point with some numbers – low-flow toilets can save more than 20,000 gallons of water if used by a four-member family. Imagine the amount of water that can be preserved on a scale of one company.
Starting buying reusable products
You have probably heard about the 3 R’s of the sustainable economy – reduce, recycle, reuse. Looking at this tenet from a business standpoint, you can see that necessary materials can be reduced only to an extent without losing productivity and that there are so many items you can recycle.
With the things as they are, the area where you should put your focus is the third R – reuse. So what are the items you can reuse to reduce the operational costs of your company?
The list is actually pretty long but you can start with items like reusable transport packaging, bottles, bags, and various other items depending on your particular industry.
Reusable items and equipment usually cost far less than the total cost of single-use alternatives.
We hope these few examples of green company practices provided you with some general idea of how you can make your business more eco-friendly as well as gave you financial incentives to do so.
The fight for a sustainable and green economy is long and hard. But, there is a reward for everyone willing to participate. So, join the ranks – you have nothing to lose and so much to gain.