What are the Benefits of Going Green?

Going green can provide a number of benefits for businesses.

As awareness of the importance of the preservation of the environment continues to grow in 2010, companies are looking for ways to become environmentally friendly, also known as “going green.” Not only can green business practices and processes help protect the environment, they may also help a company improve its bottom line.

Public Relations

Companies that emphasize the fact that they are attempting to be environmentally friendly can gain the favor of like-minded consumers. Make your business’s efforts to go green a part of your marketing campaign by mentioning the green changes you have made, such as using recycled products or changing your manufacturing processes to ones that are safer for the environment. Additionally, you can also donate money to causes that benefit the environment.

Cost Savings

Companies that focus on reducing energy consumption not only help the environment, but also reduce their costs in the form of lower energy bills. According to MSNBC.com, chemical manufacturer DuPont saved over $3 billion over two decades by reducing carbon emissions. Smaller businesses can also benefit from reduced energy costs by taking simple steps like shutting off lights and computers when they’re not in use.

Related Reading: Going Green Activities for Business

Healthier Workplace

According to the Green Business Bureau website, companies that promote a healthier workplace report a 20 percent decrease in the number of sick days used by employees. This benefits companies through increased productivity and less money paid out in medical benefits. A healthy workplace can feature organic food selections in the company cafeteria or the use of environmentally friendly industrial and cleaning products.

Tax Credits

The 2009 economic stimulus plan provided incentives for companies to go green in the form of tax credits, which can enhance their bottom lines. Tax credits are available to companies that utilize environmentally friendly business practices, such as switching to renewable energy sources like solar power, and using electric or hybrid automobiles and trucks as fleet vehicles.

Consumer Demand

As environmental consciousness grows, consumers are demanding more green products and services, according to the Green Business Bureau website. Environmentally conscious consumers check labels for products and packaging made from recycled materials. Due to this growing consciousness, the market share for green products has continued to expand in a variety of industries. Companies can tap into this market by offering more green products and services.

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