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Why Your Business Must Be Green in 2020

McDonald’s. Wal-Mart. Coca-Cola. Starbucks. All of these multinational companies have one thing in common: they’re making huge strides towards going green in 2020.

Just a few short years ago, that would have been unthinkable. But things are changing. Companies big and small are making the transition towards a greener future. Here’s why you should do the same.

 

IT'S THE RIGHT THING TO DO

We’re going to put the most important reason front and center: going green is the ethical choice. It’s the right thing to do. In 2018, the UN warned the world that we have 12 years to turn the tide on climate change.

Climate change will affect all of us. Families, businesses, VIPs, the rich, the poor, no one is exempt. The way things are currently going, if we are to go by the scientists’ projections, we’re heading towards climate catastrophe.

Moving your business to a more environmentally friendly culture is your way of doing your bit. And, as we’ll show you in what follows, it makes sense beyond just the ethical argument.

 

IT SAVES YOU MONEY

Going green has the reputation of being prohibitively expensive. The reality is that in the long run, going green will save your company money. Sure, you will require a hefty initial investment in some cases. But, you may be able to take advantage of certain government schemes to cover the costs. 

A good analogy is the LED bulb. It’s several times more expensive than the regular variety, but it lasts 40 times longer and only uses 10% of the energy. Same thing for renewables. According to this infographic on the impact of alternative energy, opting for 100% renewable has the potential to save businesses over $90 billion.

 

IT'S GOOD FOR PUBLICITY

We mentioned a bunch of big companies cranking up their efforts to go green. While we’d love for them to have done this out of the goodness of their hearts, the reality is that reputation has a big part to play. And in 2020, going green provides a boost to public perception.

When big names announce green initiatives, the news picks up on it. Twitter goes into overdrive, and Instagram celebrities will tout the product with pride. When you go green, you’ll likely get more bang for your buck when it comes to advertising dollars. There’s nothing like free advertising!

It goes further than just publicity. Consumers actively care about whether your company is green. They do their research and act accordingly. There are websites that group companies based on how green they are. Let’s just say you don’t want to end up in the ‘red zone’.

 

YOUR EMPLOYEES CARE

The average person of 2020 is far more in tune with the effects of climate change. Yes, employees want to get a decent wage. They want benefits. They want to be treated fairly. But the employee of 2020 also cares about having a clear conscience. And working for a company that doesn’t care about the environment will lead to unhappy employees.

The stats support this stance. Surveys suggest that over half of employees would be willing to take on a slightly lower salary to work for a company that takes social responsibility. If you decide to ignore going green, you’re going to miss out on quality and talented staff who would rather go elsewhere.

 

JUMP BEFORE YOU'RE PUSHED

Our final nugget of advice is arguably a little cynical, but undoubtedly practical as well. Governments are increasingly introducing legislation that is pushing firms to greener pastures. In this case, we think jumping is better than being pushed. 

There’s still a lot of flexibility, however, and many things you can implement are purely optional. Where governments aren’t forcing companies, they’re providing incentives. For example, the UK has the popular Non-Domestic Renewable Heat Incentive (RHI). But we see that changing in the next few years (RHI has been taken off the table in Northern Ireland already, for example).

Soon, you’ll have to go green. Even if you and your company’s finances are not ready. That’s why we recommend making the transition on a gradual basis, taking advantage of government schemes and tax breaks, absorbing the cost over a longer period. Going green is simply the smart choice, no matter how you spin it.

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Tags: Business

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