Businesses, both large and small are among the biggest contributors to environmental degradation around the world. They contribute to environmental harm in a variety of ways including through the manufacturing processes they use, the products they produce and sell, as well as through the environmentally harmful ways they dispose of their waste products.
Another way that businesses contribute to environmental degradation is by extracting non-renewable raw materials from the environment without putting in place measures to replenish these resources, and by using destructive extraction measures.
From this, one can gather that businesses have a huge carbon footprint. However, more consumers are becoming aware of their environmental impact, and are shunning companies that are not doing their part in taking care of the move environment through every stage of their product cycle.
In order not to lose their market share, businesses have begun growing green, and reducing their environmental impact. However, there are numerous other benefits of going green that businesses can accrue, majority of which can actually help them save on costs.
The following are some of the ways that businesses can experience cost cutting benefits as a result of going green.
- Reduction in oil acquisition costs
One of the biggest costs to businesses across the globe especially those ones in the food manufacturing sector is oil related costs. In particular, companies invest a significant amount of money in purchasing vegetable oil to prepare meals for staff members and customers (in the case of food enterprises).
If companies could find ways of recycling this essential product, they can experience significant cost reprieve. For instance, after re-using the oil a couple of times, the company can look towards turning the used oil into soap or fuel to run its machines.
Another option would be to sell the oil to Oil recycling companies that recycle the oil into renewable, environmentally friendly products such as biodiesel and diesel fuel. This way, the company makes money from its used oil.
- Reduction in paper acquisition costs
One of the best ways a company can go green is by developing a paperless business operation and structure. Paper waste poses significant environmental hazards mainly because such waste is non-biodegradable. In addition, this kind of waste is harmful to animals that end up consuming it accidentally because they cannot digest it, and it ends up affecting their health.
Ways that a company can implement a paperless business environment is by incorporating cloud based operations, and integrating online methods of communication.
By removing paper from its operations, a business is not only helping to conserve the environment, but is also reducing the amount of money spent on a monthly basis on purchasing paper based writing materials as well as related stationery including pens and pencils. Such a reduction in cost can have a positive impact on a company’s annual bottom line.
- Reduction in bottled water acquisition costs
Many companies offer their customers bottled water as a form of courtesy. However, purchasing these bottles of water is a huge cost to such companies. It is common knowledge that bottled water is usually filtered water from the local water authorities, which means that companies are paying exorbitant prices for a product that is so easy to access. In addition, there is the environmental impact that these bottles will have once they are disposed of.
To reduce on these massive costs as well as to help in conserving the environment, companies should instead install water dispensers in their business premises. The customers will still get water without the added environmental impact and heavy costs of providing them with a courtesy bottle of water.