There’s a lot of conversation around what a ‘green business’ actually is. To us, it’s about committing earnestly to making positive changes to your business’ carbon footprint. Nobody or business is perfect, but if we all do our bit, together we have the power to make a big difference.

Smaller businesses are usually able to make big changes quickly, such as switching to more eco-conscious suppliers or moving to more sustainable workspaces. Larger companies are capable of making these changes too, but they tend to take a little longer.

Fortunately, what these businesses lack in agility they make up for in scale; even making small adjustments to how a large business runs can have a successful impact on its carbon footprint.

If there’s a gnawing in your conscience to turn your business green, but you’re not quite ready to make the jump then let me help. Here are five good reasons to do your bit:

1. Compliance with government standards

You may have been part of the 2019 open letter to the UK Government calling for climate neutrality by 2050. If not, you’ll be aware of its latest target to bring all UK greenhouse gas emissions to net-zero by 2050.

At a rudimentary level, UK companies must continue to comply with all government legislation on climate change. As progress is made, these are likely to mature and expand. For example:

• SECR legislation currently requires large companies to report on energy use in their directors’ reports. I doubt it will be long before it’s a requirement of all companies, regardless of size.  
• Mandatory reporting such as ESOS and MGHG is likely to be reviewed and updated or replaced with stricter frameworks.

Green companies will benefit from being prepared for these changes; it won’t seem like such a leap if you’re already moving in the right direction.

In addition to these minimums, from 2021 all government contracts will have to meet emission criteria. This is a huge opportunity for those ahead of the curve considering that the estimated value of public contracts is £284 billion (Institute for Government).

Those looking to make greener changes could also be eligible for government funding, for example, the £40m Green Recovery Challenge Fund which is open to environmental charities and their partners (Gov.uk).

At a higher level, businesses across the UK have the opportunity to feed into new frameworks through consultations. In other words, businesses that are active in this arena are shaping the direction of their industry.

2. Profitability and revenue opportunities

From a profitability perspective, there are proven benefits of becoming a green business. HSBC’s Made for the Future report found that 26% of UK businesses say sustainability has not only improved operational efficiency but also saved on costs.

But green decisions often offer bigger (and more exciting) opportunities than cost-savings alone.

Exploring ways to make your business greener uncovers opportunities for new products or services. We’ve seen many examples this year alone; fast-food restaurants’ trialling meat-free burger options, and ‘fast fashion’ companies launching recycled ranges or using VR to reduce mass return of deliveries, to name a few.

If you want proof that there’s a market for these changes, look at trends in spending habits. Accounting for inflation, the average spend on ethical purchases per household has increased from £202 per annum (1999) to £1,278 in 2018 (Source: Environment Journal).

In the professional services sector, we’ve seen more digital working, with companies scaling back their workspace presence (which cuts costs but also reduces emissions from commuting) and a new arm of construction centred around building more sustainable spaces.

Early adopters of these initiatives are working on exciting and industry-leading projects as well as enjoying the revenue growth that has come with it.

3. Competitive advantage

Katie Leggett, sustainability manager at innocent drinks said, “We vote for the world we live in with the products we buy, and people are starting to vote for products that consider the environment and society as they’re being made.”

As people start to live greener lives, they’re expecting more from the businesses they buy from, in a personal and professional capacity.

Almost all research will tell you that on average people are willing to pay more for a product or service from a business that values sustainability. Today, consumers have so many options that green business practices can be the deciding factor. It also humanises businesses, something that is often a challenge for large corporates.

There are similar trends in the private sector too. Many investors now require businesses to report on ethical metrics and some even have their own standards that a business must meet. People really care about putting money into something that’s doing good for the planet; Pawprint’s recent crowdfunding round is a good example of this.

With investment on the table and the competitive landscape as it is, being a green business is a brand building activity that has real commercial value.

4. Employee engagement and retention

Just like your customers, employees are also starting to care more about their environmental impact.

Some will be starting to educate themselves on what it all means, some will already be making changes to their personal lives, and some might even be participating in wider environmental movements. Regardless of where they are on their eco journey, it’s no secret that employees want to work somewhere where the culture aligns with their values. Or, as HBR recently put it, somewhere they can ‘intertwine their beliefs with those of the company’.

In 2020, sustainability intertwines with retaining talent.  

As for attracting talent, much of today’s talent pool will choose eco-conscious employers over those taking a backseat. A 2017 report by PwC found that 70% of 10,000 people surveyed wanted to work for an organisation with a strong social conscience.

By working to become a greener business, companies will only find it easier to attract, engage, and retain valuable employees.

5. Future generations

When you look beyond carbon credits and CO2e calculations, the IPCC and REGO, and retaining talent and boosting sales, becoming a green business means so much more.

It means a positive change for our families, friends, employees, customers, suppliers, and everyone in between. It’s an investment in the future.  

Pawprint’s Pioneers Program is a growing group of leading UK businesses from all sectors that have signed up to help us shape our business product. Pawprint For Business will help you measure, understand and reduce your business’s carbon footprint by encouraging employees to fight climate change at work.

Signing up to become a Pioneer means:

• Early access to the product
• The opportunity to shape the product’s roadmap
• PR that spreads awareness of your green efforts
• Improved commercial terms for ongoing use of Pawprint

For more information, or to join the program, get in touch now to arrange a demo of Pawprint for Business.

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