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10 Reasons Why Cutting Carbon is Good for Business

10 Reasons Why Cutting Carbon is Good for Business

You hear terms like ‘climate change’ and ‘carbon emissions’ in the news each and every day. Scientists, politicians, and other public figures are adamant that we must do something about reducing our emissions, and fast. The public sector is mandated to reductions targets, and the private sector is slowly beginning to comply with science-based reduction targets. But as development transitions towards green tech, some businesses fear that focusing on carbon reductions will hurt economic and business growth. Businesses are stuck at a fork in the road of whether to respond to climate change or continue ‘business as usual’, striving towards eternal growth.

 

But corporate responsibility towards climate change and business growth are intrinsically linked. World-renowned businesses are showing massive growth through their eco-friendly business strategy in response to climate change.

 

So how can your business cut carbon emissions while ensuring it can continue to prosper and profit? Here are just 10 reasons why cutting carbon is good for your business.

 

  1. Invest money to save your money, today.

Worried about putting a debt in your company’s pockets? Well that’s not necessarily the case. Energy costs are rising and according to the National Energy Board, by 2035, the price of oil will be 75% higher than it is now. BCBusiness says that small and medium businesses that invest in eliminating carbon today could eliminate costs by thousands of dollars by as small as switching out incandescent light bulbs to LEDs or save even more by putting solar panels on your business’ roof.

 

  1. Your customers are asking for it

The concern for climate change around the world has risen significantly, and in Canada specifically a survey found that 88% of Canadians want Canada to make significant changes to reduce emissions, including the private sector.

 

  1. Attract the best people

Although corporate responsibility looks great from a consumer perspective, it looks even better from your employees. Nearly half of employees think it is VERY important for their employer to be responsible for the environment and society.

 

  1. Eliminate risks

By doing nothing to protect your business against climate change, you could be exposed to unnecessary risks, such as rising oil prices, energy and insurance costs, and be caught off-guard when the carbon tax eventually does include the private sector. And other environmental legislation can affect businesses too, such as mandated organics recycling and water metering. The sooner businesses make it a priority to eliminate these risks, the better.

 

  1. Economic constraints

Although, investing in green energy and cutting carbon is beneficial for your business and the environment, constraints are a reality of the future for carbon users for reason to cut emissions. Carbon is being taxed, capped and have other regulations, which will present barriers in future years.

 

  1. Don’t lose the race

Forbes rates that the number 1 reason for why 8 out of 10 Businesses fail is because of entrepreneurs are not in touch with customers. Follow the trends of your consumers, not other businesses.

 

  1. It creates jobs and drives economic growth

With high return on investment, the transition from carbon to green energy is a way for growth within the company and also local communities. Vancouver Economic Commissions states green jobs have increased by an overwhelming 19% since 2010 all while Vancouver shows the fastest growing GDP in Canada.

 

  1. Make the top green business list

The fight for who’s the greenest is getting bigger and bigger. Lists of worldwide corporations, Canadian companies, small Victoria businesses and countless others, are all having their impact on the consumer market.

 

  1. Innovation and progression

Harvard Business Review argues Sustainability Is Now the Key Driver of Innovation, which stole the title from computer science. As Internet companies survived the bust in 2000 so have the companies that cut carbon emerge successful from the recession.

 

  1. Save your money, tomorrow.

Along with cutting costs today, investing in carbon could lead to triple of the amount of savings! The Climate Group says every $1 invested today will lead to $3 in savings by 2050.
So the fork in the business road may have existed for businesses in previous decades, but the two have now merged together. The era of clash between business and the environment has come to an end. Businesses can increase profit, save money all while gaining positive publicity of the actions they’re taking to be a leader in the private sector. Oh and also helping the planet while you’re at it.

 

Green opportunities and investments are more prevalent than ever and cutting carbon is an open road for business growth. So it’s time for your business to take one step ahead of your competition, before you’re two steps behind them.

 

Matt Hussey Ecobase Certified

 

By Matt Hussey

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