Why is sustainability important in business?
Climate change can have catastrophic consequences, from longer droughts to more frequent floods. The good news is, it’s not too late to turn the tide. Businesses in particular can can play a really important role in supporting efforts to lower carbon emissions.
What are the benefits of sustainability in business?
Going green isn’t just a win for the planet—it can be a win for businesses too. For starters, fewer resources could mean lower operating costs.
Secondly, many consumers care about climate change and are interested in buying from sustainable companies, which can give you a competitive advantage. Likewise, more and more employees want to do work connected with sustainable business practices—this can help you attract and retain workers.
Finally, there are many different regulations and incentives to encourage moves towards sustainability, such as renewable energy tax credits. Going green can help your business stay compliant and maximize your margins.
In the spirit of Earth Month, we’ve got a rundown of tips for how your business can be more sustainable.
How can your company be more sustainable?
Here are some ideas and tips to become a green(er) company.
1. Ask yourself: “What is going green—for my business?”
Sustainability efforts needn’t be as drastic as installing solar panels or some other means of harnessing renewable energy. Instead, “just do what you can,” says Lauren Weston, Executive Director of Acterra, an environmental nonprofit that supports professionals in making workplaces more sustainable. While big changes are admirable, small businesses often can’t make them all at once. Taken together, even modest changes can have a big impact.
2. Start a recycling program
Recycling is one of the easiest and most readily available sustainable business practices to implement. In your offices, leave out clearly marked bins for aluminum, plastic, paper, and food scraps. Contact your local e-waste recycler about getting an e-waste bin for old printer cartridges, keyboards, and other hardware.
3. Find ways to build sustainability into your solutions and products
66% percent of all US adult consumers surveyed in PDI Technologies’ Business of Sustainability Index were willing to pay more for sustainable products. Why not meet this demand with products and/or packaging made from sustainable materials? BILL customer, Repurpose, for example, sells compostable home and partyware products.
4. Offer more plant-based food options
Animal-based foods contribute much more to carbon emissions than plant-based foods. Catering more vegan and vegetarian lunch options, or eating at a plant-based restaurant during team retreats—like Acterra does—is a simple sustainable business practice that can help shrink your company’s carbon footprint. “That’s a decision we can actively make that’s small, but it makes us feel good and supports local business,” notes Weston.
5. Provide public transportation benefits
How do you promote green initiatives? Incentives can help. If you can, encourage employees to take advantage of public transit by subsidizing or reimbursing fares and/or bike share membership fees, which can encourage employees to swap their car commutes to more sustainable alternatives.
6. Automate your financial operations
Automating your financial operations can go a long way toward eliminating paper waste. Just look to sustainable business examples like Clif Family Winery & Farm, a BILL customer and purveyor of organically-based, small batch wine and foods. They used to rely on a manual accounts payable (AP) process, which was not only slow, but paper-intensive. With BILL, they simplified their AP and reimbursement processes while supporting their goal to be a zero-waste business.
“BILL turbo-boosted this initiative,” explains Linzi Gay, President, Clif Family Winery & Farm. “It significantly reduced the amount of paper in the office immediately.”
BILL’s financial automation similarly allowed Repurpose to eliminate paper checks and become a more sustainable business. “The less paper we use, the better I feel about the job we are doing to serve our overall green mission,” says Repurpose Senior Controller Sarah Sanders.
7. Use sustainable vendors
There are so many great small businesses that prioritize sustainability. If you can, support them! Look for vendors with green business certifications, such as B Corp, Green Seal, and Energy Star certifications. Keep an eye out for local certifications, too. For example, Love Catering, a BILL customer and full-service catering company, is a certified Los Angeles Green Business.
8. Collaborate with other sustainable businesses
You don’t have to figure out how to cultivate sustainable practices alone. “Find like-minded businesses and share resources,” Gay says. “We are all on this journey together.”
Take the first step towards green!
“I would encourage small businesses to just get started,” Gay says. “There is no final destination when it comes to building sustainability into your business. It is a continuous process of assessing, reimagining, and telling your story.” Ultimately, the most impactful sustainable business practices are any that you can start today.
Ready to go green and say “goodbye” to physical checks, paper invoices, and file cabinets full of payment documentation? Sign up for BILL to get started on your sustainable business journey.