Financials and Cash Flow

Four environmental considerations for your business

Here are four considerations when it comes to "greening" your business.

Published: October 20, 2016

1. Employee engagement

"Greening" your business is a team sport, and employees play an important role. Find ways to encourage employees to reduce energy use, such as fostering a business culture that rewards employees for saving energy and identifying energy savings opportunities. And make it official by putting your green mission in writing, either for publication on your website or around the office.

2. Costs savings versus expenses

Energy-efficient measures, such as replacing conventional lighting with LED bulbs and installing a smart thermostat, can save your company money over time. While you may be able to fund smaller projects independently, it may be a good idea to explore different financing options for larger improvements. Look for state and federal tax incentives for using energy-efficient appliances, and consider a loan to cover the cost of larger investments.

3. Adapting to climate change

Consider how climate change can affect your business, and plan accordingly. This could involve securing flood insurance or establishing contingency plans for extreme heat days. And your business can take steps to reduce its own impact by taking advantage of clean, renewable energy and reducing business travel. For instance, you can reduce trips across the country by using virtual conferencing technology.

4. Water conservation

Investing in water saving measures can help you save money over time. This may include installing water-efficient fixtures in restrooms, using an Energy Star-certified dishwasher and water heater, and implementing smart irrigation systems. Also be sure to periodically inspect your equipment for water leaks and make the necessary repairs.

Learn more about options for creating "greener" standards for your business.