How Can Companies Reduce Their Carbon Footprint
According to the United Nations, around one-third of the emissions comes from non-private households. Since companies have an impact higher than individuals, it is essential to acknowledge that shifting your company to greener best practices can have a positive impact on the environment – and therefore you would have other indirect advantages, such as a stronger brand, ability to attract employees and build greater customer loyalty.
The main reasons companies should aim to reduce their carbon footprint beyond contributing to a healthier planet are:
1. Positioning as a conscious brand to your consumers. People are always looking for conscious brands. IBM’s Institute for Business Value study says over 70% of consumers value that brands are environmentally responsible and almost 60% would change their buying habits to sustainable brands. Here’s an opportunity to gain more customers and clients.
2. Draw attention from investors. Participation in businesses with a positive impact on investment portfolios is increasing steeply. In 2022, 25% of all venture capital investments went to climate tech – companies with a business model directly related to fighting climate change.
What are the most impactful initiatives that reduce your carbon footprint?
Leading organizations such as management consulting firms McKinsey and BCG, investment bank Goldman Sachs and Britain’s Climate Change Commission have been computing forecasts over the years and concluded that the greatest impact is making buildings more energy-efficient, by installing insulation or smart cooling and heating systems, for instance. These initiatives may lead to even negative costs for energy bills. The second biggest impact would be to change from coal to renewable energy.
A study from the International Institute for Sustainable Development goes even further: changing the energy matrix from fossil to renewable may save a city $164 per tonne of CO2 removed.
What can companies do to reduce their carbon footprint?
# Responsible sourcing. Source paper instead of plastic food and drink packaging, use refurbished mobile phones.
# Reduce food waste. Production, transportation, and handling of wasted food generates methane for over 20 years – and methane can be 80 times more harmful than carbon dioxide.
# Switch to renewable energy. Plug your office into renewable energy distribution. Companies like Solar Alliance Energy already install solar panels for offices, for instance, and tariffs for renewable sources can be way cheaper than regular ones.
# Consider travelling less. Increase home office to minimize commutes – you will also have the side effect of reducing costs for the company with facilities and transportation). A study from IEA tells that every day working from home saves 1% of yearly global oil consumption.
# Invest in carbon reduction initiatives. Carbon reduction efforts target tangible projects that decrease emissions rather than merely offsetting them, sometimes requiring minimal company effort.
Dyme, helps companies and employees reduce their carbon footprint without any effort by using commissions and rebates to invest in renewable projects for local communities and schools. Contact us to learn more!
