Many modern business leaders feel an obligation to their communities and ecosystem regarding the implementation of sustainable practices. But there are other benefits that are commonly overlooked and these speak directly to a company’s bottom line. Sustainability can fuel profitability because it increases consumer appeal and manages reputation risks.
In short, consumers like to vote with their dollars. Given a choice of a “green” product and a “non-green,” but otherwise identical product, the average consumer is more likely to purchase the green product. Similarly, a sustainable company is more likely to attract the top talent among job candidates. Sustainable business practices can also lead to long-term cost reductions. Installing solar panels definitely requires an initial investment, but the long-term savings is well worth the trouble. Even waste reduction can lead to long-term savings, given the cost of waste removal services.
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