Consumers are increasingly demanding businesses go green, which has pushed many industries to adopt sustainability management programs to increase sales and customer satisfaction. Organizations must now be able to align their operations with improved industry standards while responding to consumer demand.
Benchmark ESG helps companies to do just that. Recently recognized in the 2021 Green Quadrant report by Verdantix as a market leader and top provider for sustainability management with solutions providing the most robust all-around EHS software platform capabilities, Benchmark ESG continues to prioritize a future-based around sustainability.
Here are five reasons your organization should adopt a sustainability management program.
1. Reduce Operational Costs for Sustainability Management Programs
Businesses can incur numerous costs throughout their operations. However, using more sustainable manufacturing practices can reduce those expenses. Such practices can include reducing energy consumption, responsible waste removal, and product stewardship Eliminating toxic chemicals through sustainable manufacturing practices can also reduce the amount of water and waste disposal created through typical manufacturing. Besides, sustainable alternatives can also reduce fines and penalties sometimes incurred through typical processes.
2. Join in Reducing Environmental Impact
Your company is facing pressures from investors, regulators, shareholders, customers, and employees to transform your business to prioritize environmental, social, and governance (ESG). Through the addition of sustainability management programs, businesses are driving profitable and measurable growth. In its 2021 Green Quadrant report, Verdantix found that 18% of companies will widely use sustainability programs; 9% with smaller implementation at select facilities; 20% are piloting sustainability projects. This data supports an evolving trend across a range of business sectors and shows how widely sustainability programs will be implemented in the immediate and foreseeable future to reduce environmental impact & support growth objectives.
3. Tax Incentives & Credits for Sustainable Improvements
There are numerous tax credits and rebates on both the federal and state level available to those who practice and adapt sustainable improvements in their business. The Database of State Incentives for Renewables & Efficiency (DSIRE) allows businesses to identify incentives and policies. DSIRE is the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the US. Established in 1995, DSIRE is operated by N.C. Clean Energy Technology Center at N.C. State University. In Ohio alone, there are 42 incentives and policies available for organizations to take advantage of, and the state of Ohio offers a variety of renewable energy and energy-efficiency programs. These programs are available across residential, commercial, and utility-scale customers.
4. Attract New Customers
There is a great opportunity for organizations to become sustainability leaders through sustainability management programs. By adopting environmentally friendly practices, your company becomes more marketable to external stakeholders. Consumers and investors today are more conscious of companies’ impact on the environment, so making improvements will strengthen your reputation in this area. The internet has enabled customers and investors to easily research organizations’ integration of sustainable programs in businesses so there is greater opportunity to promote your sustainable values and practices to those stakeholders.
5. Boost Workforce Morale
When employees know that their company prioritizes their sustainability management programs that protect the communities and environment around them, it boosts morale and pride in the organization. Positive morale drives productivity and a motivating work environment. The adaption of sustainable programs can do just that as attitudes around going green become more popular and the new norm.
Sustainability doesn’t necessarily mean sacrificing profits or production – instead, it’s an investment that can lead to great success. Paying close attention to environmental impact has become a crucial element in a successful business strategy. Organizations that don’t factor sustainability into their operations are less likely to be successful in several measures, including profitability, growth, and environmental risk reduction. Sustainability allows businesses to generate revenue while providing opportunities and fostering innovation in products and services in their operations and their communities.
How Benchmark ESG™ Supports Sustainable Business Practices
Need help driving and measuring ESG and sustainability goals? Benchmark ESG (formally Gensuite) is the digital benchmark for enterprise operational risk, compliance, and sustainable business management systems. For nearly two decades, our one-of-a-kind applications have enabled operational excellence and risk reduction in the environment, safety, sustainability, risk and quality, product stewardship, and responsible sourcing. Create a future focused on sustainability and holistic ESG at your core. Learn more about how Benchmark can help support your ESG management goals and help you invest in the future!