When a business decides to take the plunge and review its processes and programs for sustainability, there are numerous benefits that can be realized both inside and outside of the organization. Understanding how to make the most of sustainability is something that won’t come naturally to businesses used to cutting costs and using a balance sheet that records profit and loss exclusively in terms of financial metrics. However with a little effort, thinking about sustainability, and, more importantly, acting on what is learned, can yield both financial and material benefits. Here are seven benefits to take away from tracking and reporting sustainability:
- Staff morale is improved. People care about this personally, often more than they let on, and by instituting real programs to track the success of sustainability efforts will help them feel better about themselves.
- It’s a marketing slam dunk. To use a program that reduces your carbon footprint for marketing purposes is not disingenuous if you’re really doing it, it’s just good sense. Customers, suppliers, and distribution partners will all take note, and may want your help to get in on the act.
- Investors and professional associates may show you a bit more respect—and mean it. If they’re showing it, then they’re really feeling it. Investors in particular may understand that you’re running a forward-thinking operation and you also sees benefits in doing the right thing. Never a bad situation when it comes time to look for another round of funding.
- Through blockchain, sustainability programs can turn into found money, because the value of decarbonization becomes documented and verified. Don’t look now, but you may understand more about the future than you realized. Sustainability has value now, it’s only a matter of time until it becomes valued generally. And you’ll be ahead of the curve.
- Don’t be surprised if reporting on sustainability helps you to analyze your business more effectively. Learning about environmental and economic factors in tandem may help you to see things a little bit differently. That prism may be just the kind of view you need to look through to spot other areas awaiting improvement.
- The future is now. With sustainability top of mind, you may find you understand how forward thinking can change everything.
- Taking the moral high ground for the right reasons isn’t a bad thing, no matter how you slice it.