A growing number of organizations are discovering that doing good is also good for business.
A major shift in how corporate America thinks about sustainability has been underway for some time, but it’s gained considerable ground in the last five years. Initiatives that were once seen as nothing more than loss leaders or plays for good PR are becoming an integral part of how successful companies do business.
Part of the change is cultural—many people are more concerned about sustainability issues than before. But the big reason is a no-brainer for any corporate bookkeeper: there’s a growing realization that sustainability can be profitable.
The business case for sustainability has caught on gradually, largely because consumers typically aren’t the primary driver. Only about 20% of consumers are willing to pay more for a “green” product, but many more are unwilling to switch from trusted brands.
Look at the bigger picture, however, and sustainable practices have a lot to offer any organization, in both the short and long term, including:
- Reduced energy costs
- More efficient supply chains
- Reduced waste throughout the product life cycle
- Stronger employee health, productivity, and motivation
- Greater opportunities with governments and organizations that value sustainability
- Better-educated customers (with more money to spend)
- Enhanced consumer goodwill
One of the biggest keys to making sustainability work for you is finding the right way to tell your “sustainability story.” In the next few weeks, we’ll cover some of the strategies successful organizations use to do good… and generate good business.
You’ll also want to watch for our next parathink Briefing on the expanding role of sustainability, which we’ll be releasing it in just a few weeks. You’ll find a download link on the blog, or you can sign up now to get a copy sent directly to your inbox as soon as it’s available.
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