As the demand for eco-friendly products and services—as well as consumers’ interest in protecting the planet—grows, more and more businesses are looking to reduce their carbon footprints and adopt more eco-friendly business practices. However, many companies may not know where to start, and certain efforts may come off as disingenuous if not handled properly.
To help, eight members of Young Entrepreneur Council recommend several ways companies can start going green and discuss the impact doing so can have on a company’s overall success.
1. Start Thinking Cyclically
Companies can think cyclically as opposed to linearly when it comes to their own production processes. A manufacturing company can take an honest look at the waste created in their production and think of ways to minimize or reuse that waste. If done effectively, the company can increase productivity while saving money. Given the increased consumer education in sustainability and its importance to our planet moving forward, as long as efforts are genuine and consistent, a company pursuing sustainable goals will create strong bonds with employees, customers and the surrounding community. – Charles Bogoian, Kenai Sports
2. Go Fully Digital
If we start paying attention, we will notice that companies are still doing a lot of printing, even today during the digital era. However, that’s not at all needed. Going fully digital is a win-win solution for both the planet and the company, as fully digital processes contribute to better organization, more transparency, faster transactions and better work while contributing to reducing a highly consumed product for which a great amount of natural resources is being extracted each year. Even if you use recyclable paper, you will have a higher impact when going fully digital. – Riccardo Conte, Virtus Flow
3. Identify A Greener Main Offering
Every business is different, so identify ways to go green within your operations. For example, in the junk removal industry, we’re able to donate and recycle items as opposed to dropping them off at the dump. We’re also able to go paperless and have everything signed in an app. If your business model has to do with driving around (e.g., pizza delivery), consider investing in electric vehicles. If you’re selling physical products, use recycled packing material. If you’re a real estate agent, gift your clients with a plant for their new home so that every home sold allows you to plant a new tree. Find the sole offering of your business and turn that thing green. Not only is it great for the environment, but it’s also a marketing benefit! – Nick Friedman, College Hunks Hauling Junk & Moving
4. Get Your Supply Chain Partners On Board
Companies need to be willing to invest in new technologies and processes and work closely with their supply chain partners to ensure that sustainability is a shared priority. You should carefully evaluate your supply chain partners and select those who prioritize sustainability in their operations, such as using renewable energy, minimizing waste and reducing greenhouse gas emissions. Ultimately, the benefits of adopting more eco-friendly business practices can have a positive impact on a company’s success, both in terms of financial performance and brand reputation. – Rachel Beider, PRESS Modern Massage
5. Implement A Takeback Program
Companies can reduce their carbon footprint and improve their eco-friendly practices by starting a takeback program. This allows customers to return used products to the company instead of throwing them away, which can help to conserve raw materials and reduce environmental damage. This will also help companies improve their reputation and attract environmentally conscious customers. Moreover, the company may offer incentives for customers to increase their participation and brand loyalty, ultimately leading to increased sales and customer satisfaction. As a result, a takeback program will have a positive impact on the environment, offer incentives to the customers and also help the company achieve success. Everybody wins! – Vikas Agrawal, Infobrandz
6. Switch To Renewable Energy
More and more people are becoming increasingly aware of sustainability and are choosing to buy from brands that are eco-friendly and contribute positively toward shaping the environment. For businesses that still haven’t adopted sustainable processes, this means taking a step back and measuring your company’s carbon footprint. Then, the next likely recommended switch is to switch to using renewable energy to run the company. If your current provider doesn’t offer renewable energy, then it may be time to consider choosing a new provider who can guarantee that their power comes only from renewable sources. Think creatively and find areas of your business—office supplies, processes and packaging—where you can reduce, reuse and recycle. – Candice Georgiadis, Digital Day
7. Go Fully Remote
Move to—or return to—a default remote work situation for all employees who don’t need to be on site. Remote work has advocates and detractors, but few would argue with the premise that it’s better for the environment. After all, depending on where you live, even electric vehicles (EVs) and plug-in EVs draw power from a “dirty” grid, and even public transportation is not zero-carbon in the vast majority of cases. So the less you ask your people to move around on weekdays, the smaller your carbon footprint should be, all else being equal. – Andrew Schrage, Money Crashers Personal Finance
8. Partner With Eco-Friendly Nonprofits
I find that a good way to start being more eco-friendly is to work with nonprofit organizations that are dedicated to promoting sustainability. Companies can partner with these organizations to learn more about the best practices for reducing their carbon footprint and adopting sustainable business practices. In many cases, such nonprofits can find alternative supply materials, products and services that are better for the environment. One positive impact is that a company can leverage the reputation of the nonprofit by partnering with them. But you’ll also find it faster to implement eco-friendly solutions and practices with the help of a partner. This, in turn, has a positive effect on the customer experience. – Blair Williams, MemberPress