I was glad to see a recent article on Industry Week last month that covered the recent study by McGraw-Hill construction, sponsored by Siemens (and available on the Siemens Building Technologies site), that found that three out of four firms viewed sustainability as consistent with their profit goals.
The study, which also found that:
- 75% of firms expected green practices would reduce energy,
- 70% of firms expected green practices would retain and attract customers,
- 64% of firms expected green practices would provide market differentiation, and
- 58% of firms expected green practices would serve the financial performance of the company
is dead on. Reduced energy consumption saves money. Market differentiation attracts more customers. More customers increases revenue. All of this adds up to more profit. Basically, what us bloggers have been telling you for years is true. Sustainability is more than just being green … it’s keeping your firm around for the long haul. For ideas on how to get started, check the SI sustainability archives or take a trip over to Tim Albinson’s 2Sustain.
After all, as per this recent Strategy+Business article, Green Is A Strategy. Look what Ecomagination did for GE … over $100 Million in cost savings to the bottom line and a portfolio of 80 new products and services that generate over $17 Billion in annual revenue. And with 80% of workers wanting to work for a company or organization that makes the environment a top priority and 67% of currently employed personnel planning to look for new opportunities when the economy picks up, your business could be in serious risk if you’re not green.
If you don’t know where to begin, the Strategy+Business article has five steps to get you started.