How Going Green Can Make a Company More Successful
Corporate sustainability is becoming more of a focus for companies across the globe as research uncovers the detrimental impact humans and businesses can have on the environment. Going green as a company not only helps to reduce its environmental footprint, but it can even make a business more successful. The following are a few ways corporate sustainability efforts can improve a company’s bottom line.
Increase Efficiency in the Supply Chain
There are several parts of the supply chain, but sustainable practices have particularly great effects on shipping and distribution. Utilizing environmentally friendly vehicles, for instance, significantly cuts down on fuel costs. Using recycled and recyclable products in shipping, such as Pratt Industries’ 100% recycled corrugated boxes, is more sustainable and may increase profit in the supply chain through integrated value.
Attract the Largest Group in America
In 2016, millennials took over baby boomers as the largest age cohort in America. At last count, there were more than 75 million millennials out there, and they’re now all over the age of 18. By going green, businesses can attract this large group of consumers. As it turns out, young adults list social responsibility as a prime factor in choosing with whom to do business. If they have the choice between two businesses and only one lays claim to “environmental friendliness,” that’s the company they’ll choose. Bringing in millennials means bringing in profit.
Implement In-Office Paper Recycling
According to the U.S. Environmental Protection Agency, up to 45% of municipal waste is generated in the workplace. Of the paper waste generated, only 68% was recycled in 2010. By installing easy, consistent locations throughout the office for employees to recycle packaging, paper, and other materials, companies can reduce monthly waste disposal fees while encouraging green business practices. In addition to offering an office paper recycling program, by using recycled products for packaging, shipping and other areas, companies can maintain the environmentally friendly image that consumers are currently seeking.
Take Advantage of Green Tax Credits
Every dollar a company is able to save equates to its own little success. For some organizations, going green can result in thousands of those little successes. The government offers a variety of tax incentives for companies that focus on sustainable business practices. Tax time is often one of the least favorite moments for entrepreneurs, but going green can make it a little more bearable.
Going green is the responsible thing to do in the modern world, and the fact that it improves profits makes the implementation of more sustainable efforts hard to ignore. By focusing on environmentally friendly practices, entrepreneurs and corporations can put their businesses on the fast track to success.
ABOUT PRATT INDUSTRIES
Pratt is America’s 5th largest corrugated packaging company and the world’s largest, privately-held 100% recycled paper and packaging company, with more than 6000 highly-skilled, green-collar employees dedicated to the environment and sustainability. Learn more about how your company can start (or continue) on the path to sustainability through a comprehensive waste audit by the Pratt Recycling Division.