Creating Financial Sustainability
Gone are the days when businesses looked only to their future growth and profit margins. Increasingly, they are paying attention to the carbon footprint left on the road to pursuing financial abundance. With environmentally conscious consumers demanding earth-friendly products, the onus is on the companies to deliver. Such green measures are crucial to stay afloat in the highly competitive market, which is steadily but irreversibly adapting to earth-friendly processes. However, a roadmap to achieving financial sustainability is a key factor in converting the businesses that are on the cusp of moving toward sustainability.
Why should we invest in going green?
Going green is not an option anymore. It is required of the businesses to offer products and services that support and participate in the well being of their local communities. Steps should be taken to curb environmental wastages by resorting to sustainability measures: renewable energy, water conservation, efficient transportation, green building, and recycled products. Both the ethical and social responsibility mandates businesses to make green initiatives a priority. Such companies, demonstrating accountability to and awareness of environmental concerns, automatically score higher on the scale of consumer-likability and acceptance.
How do we go green without monetary concerns?
The level of sustainability in the community is directly dependent on financial sustainability of its inhabitants. In accordance with the current push to make the communities more and more earth-friendly, many investors are providing the financial help needed to undertake green projects, diminishing fears of business failure.
Finding investors and green banks to fund projects through loan funds, active ownership, and alternative investments, companies can embark on different projects based on their individual needs and priorities. Identifying such responsible investors, who are keen to address the positive social impact of investing, is a significant step needed to march toward imbibing environmentally safe business practices. One example is New Resource Bank, which provides commercial banking services to businesses with a sustainable business strategy and practices.
There are progressive investors, both individuals and companies, who are earmarking resources to discover companies leading the way to a green and sustainable economy. Hence, there is no need to depend on any one government unit or federal campaign to support green initiatives. Many financial institutions are eager to lend a helping hand. Companies on the “greening” road are bound to get the attention. Be that company!
What resources (tips & tools) are available for going green?
Sound planning, practical strategy, and an effective roadmap are needed to overcome complacent business practices. Growth should be in tandem with sustainability. Planning for financial sustainability, as a part of an overall plan for business growth, is necessitated by the atmosphere of environmental consciousness spreading everywhere. Monetary gains at the cost of the environment may eventually spell doom for the company, because it fails the test of communal accountability.
Tips for going green
Build bridges: Obtain enthusiastic support and shared resources from other like-minded businesses and companies.
Start small: Zero in on a green project, make a list of items needed and amount required to sustain and fund, and ways to reach out to the funding sources.
Set goals: Have a short-term goal to envision how the green transition will affect the finances of the business. A long-term goal can be drafted to see how the current changes impact the business in about 5 years or longer.
See pay-back: Sustainability measures always pay back. For example, by installing water filtration machines and stopping bottled water purchases, a company can save thousands of dollars. Running double-sided copies, emails-only-communication also contributes to savings over the course of a year. Reducing electricity consumption can also help a business save money, and the environment.
Think creatively: The company budget is crucial in pushing the green initiative to become a part and parcel of the business functioning. When the entire organization takes ownership of green initiatives by monitoring their carbon footprints it becomes easier to adjust to the requirements of the company’s sustainability initiatives. Let your company underline sustainable prosperity through creative teamwork.