Tuesday, 29 June 2021

9 Benefits of becoming a sustainable business

The future is green. (We never get tired of repeating this phrase!)

As the effects of climate change are now being felt by everyone, consumers around the world are becoming more sensitive about their consumption and are demanding more responsibility and bold actions from businesses in order to reduce their carbon footprint and produce more environmentally sound products and services.

Businesses with a serious intention to be active in the next 5-10 years have started working on strategies to make their operations more sustainable, in line with their customer's demands, upcoming laws & regulations, and because it is simply the right thing to do. It is highly unethical for a business to generate a profit whilst disrupting and damaging the environment. 

Some of the most important aspects that a business needs to look at are energy efficiency, water efficiency, waste generation, and reduction of greenhouse gas emissions; and whilst there are many other actions that a business can take to go green, it is imperative that the first step is a change in mindset. Starting from the CEO all the way down to line employees, everyone must put sustainability at the forefront of every decision regarding the business; from the choice of suppliers to the type of coffee served in the kitchenette. 

Benefits of going green

In 2019, Forbes stated: "What is good for the planet, is also good for business." Let's have a quick look at the pro-points for becoming a sustainable business.

1. Brand Image
A business going green makes customers feel that it is a trustworthy company and will gain favor. A good business is not about making tons of profit, but about providing an excellent product or service according to customer's needs. 

2. Minimized costs
Investing in efficient lighting will reduce your utility bills. Reusing and repurposing as much as possible will save you money on purchasing new stuff. Using the cloud will decrease your printing needs. Refilling your ink cartridges will also save you money.

3. Increased profits
Every improvement, no matter how small or minuscule, can enhance the productivity of your business operations ultimately resulting in savings. 

4. Compliance
Being the first to regulate your business in view of upcoming new legislatures pertaining to your industry, will provide you with numerous advantages, one of which is the flexibility to work with your own timeline and not be restricted by deadlines and the threat of fines.

5. Attract new customers
Customers who may have previously preferred a competitor will be happy to make the switch in the light of your environmental practices. Studies show that businesses that regard the environment, enjoy higher consumer retention and lasting loyalty.

6. Attract funds
The EU Green Deal is a set of policy initiatives with the aim to make Europe climate neutral by 2050. For this purpose, it is mobilizing 1 trillion euros over the next decade to support businesses with a genuine intention of going green. 

7. Press attention
Journalists are always looking for new exciting content, and sustainability makes good PR. Be creative by organizing something to attract their attention and you will be gaining a ton of free press.

8. Become a role model
Establishing yourself as the market leader and becoming a great example for others to follow will bring about new unexpected benefits, such as new partnerships, new opportunities, and a happy loyal workforce. 

9. Get featured on Eco Market Malta's platforms.
As a sustainable and responsible business, you can benefit from additional promotion by being featured on Eco Market Malta's platform. Product-based businesses can join our online sustainable marketplace Coral, while service-based businesses can be featured on our Green Directory, which will be launched very soon. 

A Green Directory for Malta & Gozo

Our aim is to make it easy and convenient for customers to connect with sustainable businesses for everything that they need. For this purpose, we are launching a 'Green Directory for service-based businesses in Malta'. A virtual place for such consumers and businesses to interact and promote green practices that are both environmentally responsible and commercially feasible. 

Thanks to the Green Directory, all sustainable businesses, whether small or large, will have space to showcase and promote themselves to an ever-growing list of conscious consumers. They can highlight their environmental attributes and green policies, receive direct messages from potential clients, and enhance their online presence. Consumers, on the other hand, will be able to find environmentally responsible service-based businesses in one site, with quick search functions, smart filters across several industries and categories, all to make it easy and convenient for them to make the right choice when choosing a genuine service-based business, without having to worry about greenwashing. If you own a green business you can submit your listing today from here. Choose between free or premium listing for a minimal yearly contribution and benefit from several additional cool perks. 

Success through sustainability

Do you want to learn more about transforming your business to be more successful and more sustainable? Download our latest free e-book 'Success through Sustainability' from here. (You will need to subscribe to our newsletter).