The value of embracing a sustainable strategy is demonstrated through increased profitability, increased efficiencies, reduced cost, increased market share, and reduced business risk, both reputational and financial.
However, you can’t manage what you don’t measure. Understanding your carbon footprint is the starting point to identify areas of the business where emissions, and hence costs, can be reduced. Measurement also allows a prudent organisation to understand its GHG risk associated with pending legislation and carbon taxation.
In short we find the following benefits when companies embark upon these sustainability initiatives, the initial stage being the quantification of your carbon footprint:
- Identifying carbon and energy reduction opportunities (costs).
- Communicating your green credentials and intentions with shareholders, customers and staff.
- Disclosing emissions to your corporate customers who may already have a regulatory reporting requirement, both local and international.
- Demonstration of environmental stewardship.
- Voluntary adoption provides first mover advantage in non-regulated environments and improves market credibility.
- Attraction of ‘y-generation’ skills to your business who are environmentally conscious and look at companies green credentials in careers moves.
In conclusion, although financial benefits are important, the challenges we face dictate that all businesses should be making a concerted effort to manage their emissions and have a thorough understanding of their carbon footprint.