Improve Your Business’s Ethical & Environmental Responsibility

Creating an ethical business is vital, especially post COVID19 as customers are increasingly eco-aware, and are leaning towards more sustainable choices in all areas of life. As a business, it is advised to show full transparency and authenticity in your environmental efforts to avoid the ‘greenwashing’ backlash. In this article, you will find out why implementing more effective green strategies to your Corporate Social Responsibility could improve your business.

• Boost Morale and Improve Productivity

It is proven that being more socially and environmentally responsible business can help your team feel better about themselves. By contributing towards a greener future your employees will feel pride and self-worth which will have a positive impact on productivity and morale. For example, investing in your employees through environmental training, benefit packages that include green travel alternatives, investing in local communities, or sponsoring sustainable charities can make your company a more enjoyable place for people to work.

• Reduce Costs

It might seem surprising but companies can actually save money by going ‘green’. Starting with small things like going paperless, investing in energy-saving lightbulbs, reducing water, using biodegradable materials, and recycling all waste products – these small but smart decisions will eventually reduce costs while also reducing your environmental impact. You could also think about adapting practices that exceed industry norms and differentiate your company from others. Then demonstrate your pride from going green through testimonials and by showing how you celebrate sustainability achievements.

• Attract New Customers

The Trade Ready article suggests that by leveraging your brand’s environmental and ethical responsibility you can win over new customers. Nowadays responsible and eco-aware consumers are more drawn to companies that support sustainable initiatives even if it means paying higher prices than for other less green alternatives. Businesses that have an environmentally friendly brand image could bring a new segment of consumers, in result increasing revenue and growth. On the contrary, businesses that don’t keep up with the latest technologies that allow reducing their environmental footprint may get left behind and find themselves unable to compete with others in their market.

• Grow Your Company

Working for an ethically and environmentally driven company makes people happier and inspired, says Network for Business Sustainability. It could also attract more talented people who share the same values and will proudly represent your brand. Study shows³ that many job seekers are attracted to work for sustainable companies because if the company genuinely cares about the well being of the grates society and the planet, it would treat its employees well. Therefore, by using effective and honest communication you could position your company as a green employer of choice.

What steps will your business take to contribute towards a cleaner, greener future?

Sources: Network for Business Sustainability, Trade Ready, Corporate Social Performance in Emerging Markets.

1. Green Organizations: Driving Change with I-O Psychology ‘Corporate Environmental Sustainability and Employee Recruitment: Leveraging “Green” Business Practices to Attract Talent’
2. Trade Ready Blog for International Trade Experts ‘4 ways improving your business’s social and environmental responsibility can boost profits’
3.  Academy of Management JournalVol. 57, No. 2 ‘Why Are Job Seekers Attracted by Corporate Social Performance? Experimental and Field Tests of Three Signal-Based Mechanisms.