As the reality of Climate Change continues to rise like ocean levels across the world, some businesses are taking steps (whether self-directed or government mandated) to evaluate, analyze, and reduce their negative environmental impact. And these moves aren’t just good for the polar bears, they’re also proven to have meaningful positive impacts on businesses’ bottom lines and their standing amongst both consumers and employees.
If you need a little bit of listicle persuasion - here are a few reasons to consider addressing your organization’s sustainability initiatives beyond just saving the trees. (Though trees are great… we love trees… and air, we love air… oh and also all land and animals, need to save them too, you know, so we can survive as a species).
- Consumers Care About Corporate Responsibility
It’s been proven time and time again, but it bears repeating: consumers want to work with brands who believe in and stand for something. A recent 2020 study found that consumers were 4 times more likely to purchase from a brand with a strong, demonstrated purpose. And 83% said that companies should only earn a profit if they also deliver a positive impact. The market is no longer concerning itself only with the value of a product to the consumer, it’s also focused on its value to the world writ large or, at the very least, whether or not the product is doing active harm. - Defined Purpose and Commitment Are a Positive Differentiator
As brands continue to try to stand out in a saturated environment, defined purpose can also be a way for businesses to differentiate themselves from the competition without making drastic changes to their products or offerings. And, since we know brand citizenship is something consumers are already taking into consideration, putting a stake in the ground right now allows organizations to lay claim to their piece of the purpose pie early and cement themselves in the landscape for generations to come. It’s a competitive advantage - straight up - for those looking to catch up or burst ahead. - Employees Value Workplaces with Meaningful Missions
A recent McKinsey study has confirmed what we all knew long ago: employees want to work in a place where they feel their work has purpose. Even businesses that don’t traffic in ‘sexy’ categories like CPG or Tech can still make employees feel like part of a proud and meaningful team through a commitment to sustainability. In fact, according to a 2019 survey, almost three-quarters of millennial workers would take a pay cut if it meant working for a company that took environmental responsibility seriously. - You’ll Be Participating in the Global Conversation about Climate Change
No way around it, the way to get people to listen to you is to have something meaningful to say. As the world continues its nuanced and necessary conversations about the future of energy and the climate, businesses with insight or action to contribute are going to get more positive attention than those who don’t. - It’s a Smart, Forward-Thinking Business Innovation (for now)
Look, this is the way that industry is headed, such as the Australian mining behemoth deciding to go carbon neutral. Businesses have the opportunity right now to hop on board and position themselves as forward-thinking in the new, climate-concerned corporate climate (say that 5 times fast). Very soon, it will be too little too late and companies who drag their feet on sustainability run the risk of being seen as stragglers, suck ups, or - worst of all - being disingenuous when they finally come around. - It’s Actually Not That Hard
Reducing your business’ carbon footprint doesn’t have to be a huge logistical overhaul. In fact, with Catalyst Power, you can transfer your business’ power supply to a more sustainable source through either Community Solar or our Connected Microgrid Solution and make a huge step in making your footprint smaller (see what we did there?). And you can do it all online. Yes, seriously - ALL online.
Considering sustainability when making business decisions doesn’t just come with significant environmental benefits, it also offers your organization an opportunity to make meaningful, forward-thinking moves that improve your bottom line, bolster employee retention, and differentiate you from competition. And yes… the whales like it, too.
