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Sustainability and Corporate Social Responsibility: For New Businesses, It’s Never Too Soon to Start

Going green and adopting solid sustainability practices and policies isn’t just good for the planet. It can be good for business, too.

More and more companies throughout North America are placing an emphasis on corporate responsibility initiatives in order to improve energy efficiency, make their products and services more sustainable and measure their carbon footprint: fast food giant McDonald’s shift from plastics and polystyrene foam to paper as a waste reduction strategy was a high-profile corporate example in the direction of environmental responsibility.

In a survey of 2,500 companies conducted by consulting firm Grant Thornton, respondents gave these reasons for adopting sustainability practices: customer demand (64%), brand building (59%), staff recruitment (58%) and tax relief (42%). Notably, 62% said it was “the right thing to do.”

Corporate Responsibility Has Tangible Benefits

Established businesses are finding that incorporating sustainability practices can improve the bottom line. That’s true for new ventures as well.

“Embedding sustainability into the core of business enables the company to create more value across various capitals including environmental, social and financial capital,” wrote Margo Mosher of SustainAbility’s Brooklyn, N.Y. office in Corporate Social Responsibility Newswire. “Our research suggests that integrating sustainability can also lead to greater employee engagement, better decision-making and a more holistic and comprehensive understanding of risks and opportunities.”

Another byproduct of sustainability practices is that they improve quality of life for employees and create a positive workplace culture. This helps businesses attract top talent, especially among the rising generation of eco-conscious professionals.

Start With A Sustainable Foundation

Anyone who has ever launched a startup knows that there are many issues to resolve. They may not even know how to go about incorporating green practices.

Start building green principles into your business plan. While there may be some initial investment costs — like installing solar panels — over the long haul it will pay off in reduced operating costs.

Companies engaged in manufacturing consumer products need to think ahead and assess and manage the environmental risks of those products throughout their life cycle.

Green Building and Design

If you’re looking for a new workspace, look into renting in the increasing number of green buildings on the market.

Hamilton, Ontario developer Denis Vranich places heavy emphasis on design and green building techniques in his projects and over the years has developed a series of commercial and residential properties in Hamilton, Ontario, including in the city’s Hess Village entertainment district.  His company, UrbanLife Residential, is focused on developing green multi-residential units.

Denis Vranich mentions that the ultimate goal is to produce buildings that have as small a carbon footprint as possible, not only for environmental reasons but also for economic ones; adding that utility costs are one of the largest expenses in the operation and management of multi-residential properties.

Green Is A Great Color for Your Brand    

Going green doesn’t only save money and resources: it’s also good for your brand. People will view your company as one with a social conscience that’s committed to contributing to the community you’re based in.

If your new enterprise involves making or selling green products, so much the better. The ability to meet customer demand for eco-conscious products gives you the edge over your competitors.

Reduce, Reuse, Recycle

Build sustainability values into your corporate culture.

Trimming energy costs will have a noticeable positive effect on expenses. Consider transitioning to solar power. Or simply replace inefficient light bulbs: using 25 CFL or LED bulbs over 50,000 hours can save up to $6,600 in electricity costs.

Even something as minimal as encouraging employees to bring their own mugs or containers to work, instead of using paper or styrofoam, can make a difference.