By 2ndactt/ Photo by Pexels.com
Greener companies attract more customers, investors, and business opportunities than those that are less green. They see more growth, and faster, as a result. Take a look at how companies benefit from being green.
1. More customers who are willing to pay more
Consulting firm Accenture Strategy conducted a survey involving nearly 30,000 consumers in 35 countries on the topic of purpose-led brands. The aim is to find out if what a brand says, does, or stands for influences purchase decisions.
They found that 62 percent of the respondents agreed that they are more likely to buy from certain brands over others if those brands “believe in reducing plastics and improving the environment.”
Earlier research by Nielsen, comprising 30,000 participants from 60 countries, showed that 66 percent of customers are willing to pay more for sustainable brands.
2. More finance
In his letter to CEOs early this year, Larry Fink, Chairman and Chief Executive Officer of BlackRock, said that awareness of climate issues is rapidly changing and that people are on the edge of a fundamental reshaping of finance.
Investors from across the world are asking how they should modify their portfolios, the letter said, adding that “sooner than most anticipate – there will be a significant reallocation of capital.”
Law firm Linklaters said that issuances for green bonds surged to a record high of 479 in 2019, compared to 382 in the previous year.
In addition to that, governments, institutions, and companies raised a total of US$185 billion to finance environmentally sustainable projects last year.
That means your business is more likely to attract more funds if it taps into the trend of sustainability.
3. More business opportunities
Some government agencies and nonprofit organizations only allow those who meet green standards to bid their contracts, wrote a Houston Chronicle news story. Therefore, being green can lead to more business opportunities.
4. Less day-to-day operating costs
From big offices to printers and fax machines, it takes money to run a business. But working remotely and digitalizing paper files can save plenty of operating costs.
If you want to give a boost to your business, go green.
Recommended products >>