Greening Business
- What is “green” business?
- The value of being green
- Going green in a down economy
- Do it with a Green Team
- Easy, cost effective efforts for small and large businesses
- Larger sustainability initiatives
- Studies, statistics and resources
- EarthShare's Inaugural Green Team Roundtable
What is green business?
A “green” business strives to have a positive impact on the environment and community. It develops and practices business strategies that go beyond regulation and demonstrate commitment to a healthy and sustainable future. A green business adopts principles, policies, and practices that improve the quality of life for its customers and employees.
Going green makes business sense. Natural resources are becoming more scarce and costly, while customers, employees and investors are increasingly environmentally-conscious.
Customers admire green business practices and the demand for environmentally-friendly products is high and rising. According to a survey conducted by the Boston Consulting Group (BCG) in January 2009, the trend toward buying green continues. More consumers purchased green products in 2008 than in 2007, and more consumers were willing to pay a higher price for green products if they were considered to be of higher quality.
Going green can be cost-effective, too. Even at the most basic level, programs that reduce, reuse and recycle frequently lead to cost savings. More expansive efforts [link to page 2 “Larger sustainability initiatives] offer a tremendous opportunity to reduce basic costs and can give a company a competitive edge.
Environmentally-conscious business practices help attract and retain the best employees by increasing employee satisfaction and pride in the workplace. According to the Workplace Insight survey released by Adecco: “American workers are paying growing attention to companies’ environmental policies and an increasing number report that they would be more inclined to work for ”green” companies.” A recent poll on green employment by MonsterTRAK.com found that 80% of young professionals are interested in securing a job that has a positive impact on the environment, and 92% would be more inclined to work for a company that is environmentally friendly. Engagement programs that empower employees by giving them easy ways to support causes they care about, such as the EarthShare workplace giving program, are also proven morale boosters.
Green business strategies signal reduced business risks and progressive business practices. As investors and partners become more knowledgeable about “green” strategies that improve the bottom line, climate-responsive business practices will soon become the norm.
Community involvement is also an important cornerstone for many companies, and green practices enhance public image, community relations and good will.
Taking a hard look and answering tough questions about a business’ practices can save lots of dough. According to NRDC, Bank of America reduced the weight of its ATM receipts from 20 pounds to 15 pounds, saving paper, transportation, and storing and handling costs, to the tune of $500,000 a year.
Despite recent economic woes, consumer demand for environmentally-aligned products is not slowing. According to the BCG report: "The continuing expansion of green consciousness around the world presents a huge opportunity for smart companies…The business case for green remains compelling, especially in a tough market."
Environmental Defense Fund and Frost & Sullivan conducted a survey of energy efficient business leaders in December 2008 on the topic of renewable energy and energy efficient products and services. Of 500 respondents, 42% said their sales have increased over the past one to two years and an equal number said that their sales have remained the same (42%).
While economic recessions are difficult, they also provide a window for new business ventures and an opportunity to establish a new position within the market. Resources become more affordable, human resources are more abundant, and customers become more willing to reconsider suppliers and consider alternative products. This is a great time to go green and position a business as an environmental leader.
Just as more and more businesses are adding Sustainability Officers, growing numbers are developing employee “green teams” to help guide them on the green business path. A green team is a group of employees working to promote sustainable practices at the workplace. A diverse green team with upper management support can build initiatives based on individual, group and company capabilities and strengths. Green team initiatives can range from grass-roots efforts that focus on ways to improve internal operations, to more formalized programs and the development of policies and environmental management systems that provide a framework to measure progress, assess impacts, and continually improve results.
- Capturing the Green Advantage for Consumer Companies, Boston Consulting Group
- The Green Movement in the Workplace, Adecco USA Workplace Insight Survey
- It Pays to Go Green in a Down Economy, Entrepreneur
- The World Awaits Your Green Business, Entrepreneur
- Creating a Green Office: Think in terms of financial payback when considering and implementing your eco-friendly office, Entrepreneur
- A New IT Mandate for Eco-Consciousness and Sound Business Sense, Think Eco-Logical
- Companies Across U.S. Poised For Growth Under Cap On Carbon, Environmental Defense Fund*
- How Saving the Environment Can Also Save You Money, Xerox
- Net Impact Releases Guide to Making Any Job a Green Job, GreenBiz.com
- Corporate Green Teams: Sustainable Business From the Bottom Up, GreenBiz.com
- Engaging Employees in Sustainability, GreenBiz.com
- Green Team Project
- Green Teams: A New Social Trend at Work?, AltaTerra Research
- Green Teams: Evolutionary Learning Communities
- Green Teams, Entrepreneur
- Green Team Business Guide, Kansas Green Teams
- One Environment Network, EarthShare of North Carolina [PDF]
- How to Start a Green Team
- Starting a Green team – How you can lead your company
* EarthShare member organization
