A recent article in Industry Week on the regulation opportunity noted that companies with an environmental vision and plan can mitigate increasing environmental regulation and actually profit by improving:
Companies perceived as green by consumers have increased customer loyalty and attract higher rates of sale.
- Cost Structure
Companies that place importance on environmental compliance are generally better run and costs are more fully understood. Having an environmental strategy helps to trim the fat, reduce waste, and improve the overall operating cost structure.
- Public Relations
These days, many consumers will actively punish companies that they feel are environmentally irresponsible.
- Government Relations
You’ll garner regulatory “good-will” and be considered a key stakeholder who can help shape future regulations.
- Employee Relations
Gen-Y job seekers actively look for environmentally friendly organizations and actively shun those that aren’t. You’ve been warned!
Furthermore, you don’t need to wait for regulations to put a halt to current operating practices, you can improve them now and reap the rewards.