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Key Business Going Green Statistics

  • $26 trillion in economic developments contributed, when businesses decide to adopt green practices.[1]
  • 27 billion tons of solid trash by 2050 due to a business environment that stresses rapid output and turnover for maximum profitability according to Environmental Sustainability Reports.[2]
  • $45 trillion cost to go green, according to IEA estimates.[10]
  • Green initiatives grow businesses 28 times faster than average companies.[13]
  • 46% of companies said their green initiatives has led to partnership with other like-minded companies.[13] 
  • 95% of plastic packaging is thrown away after one use, costing $120 billion yearly. [1]
  • 100 businesses accounted approximately 71% of world emissions.[4]
  • 76% of Americans expect businesses to combat climate change..[1]
  •  75% of corporate sustainability professionals agree organizations must improve their sustainability strategy to meet global mega-trends,.[3]
  • Up to 20% increase in sales revenue due to corporate responsibility practices.[7]
  • 64 % of millennials willing to decline a job if the company lacks corporate responsibility..[5]
  • 50% of major US businesses and 60% of worldwide companies report investing in strategies to reduce environmental consequences.[8]
  • 75% of companies rated their customers as one of the key drivers of their environmental policies.[8]

Consumer Perceptions

  • 65% of Americans want corporations to drive social and environmental change in the absence of government action.[3]
  • 61% of US customers consider sustainability before buying.[9]
  • 73% of Americans would quit buying from a corporation that ignores climate change.[1]
  • 92% of buyers trust brands that are environmentally or socially responsible.[5]
  • 73% of Millennials will pay more for eco-friendly goods .[6]
  • 85% of global consumers are making more sustainable purchasing decisions than they were five years ago..[9]

The green movement has been growing in leaps and bounds in recent years. 

Business Green Going is becoming more and more popular among businesses all over the globe. 

From the creation of renewable energy sources and eliminating business waste to building LEED certified structures and using smart technology, there are countless ways companies can improve their business green going practices. 

In 2014, 72% of small businesses had taken some action to use less energy or make their workplace more eco friendly. Also, using data from 9,236 SMBs in 35 countries across Europe and the US, our research shows that becoming green benefits firms on average.[14]

Here are some interesting business going green statistics about how many businesses are going green and how much it improves company profits as well as environmental preservation.

Cost of going green for business

It will cost $45 trillion to go green, according to the International Energy Agency.[10]

The above money value represents the cost of shifting to renewable energy. This is the expected sum of all clean energy investments, including solar, wind, biomass, and other advancements needed for a total changeover to green technologies. 

However, at this moment it may seem like too large of an investment to make without evidence that it’s worth the initial price. But once we look at some numbers that back up our decision to go green, we can see that there are plenty of benefits waiting to be enjoyed in return.

Eco Friendly Industry Growth 

Eco Friendly Industry Growth

The global Green Technology and Sustainability market is likely to grow from USD 11.2 billion in 2020 to USD 36.6 billion by 2025 at the CAGR of 15.5%.[11] 

The major growth drivers of this market are the increasing investments in sustainable production, regulations geared towards reducing emission levels and rising environmental concerns around the globe. The stringent regulations with respect to climate change are a key driver for the market growth.

Eco Friendly Trend Statistics

Eco Friendly Trend Statistics

35% of respondents said they chose sustainable products to help protect the environment, 37% said they looked for products with environmentally friendly packaging, and 41% said they avoided the use of plastic when they could.

It’s great to see most consumers aware of their behaviors’ environmental impact. But this raises an interesting question: do sustainability measures reach those in need? While most buyers consider sustainability and eco-friendly packaging, many do not live a sustainable lifestyle. So how can we get more people to buy green?

 For starters, eco-friendly products must be easier to identify and purchase; otherwise, some consumers may not seek them out. There also needs to be more education and awareness on these concerns. The good news is that there are plenty of environmental organizations out there, but more are needed, and it will require both organizations and individuals to make a difference.

Sustainable Business Statistics

Why is sustainability important to business success

Sustainability and corporate responsibility will grow in importance. To be clear, being eco-friendly is not a condition for being profitable, but organizations who appreciate the value of sustainability will win. Companies may improve their consumer reputation and establish trust by taking a long-term approach to sustainability.

Here is these two statistics confirm that: 

  • 73% of Americans would quit buying from a business that ignores climate change.
  • 92% of buyers trust brands that are environmentally or socially responsible.

Why are companies going green

Going green is beneficial for business. While not quite altruistic, the benefits outweigh the drawbacks. Going green makes them money, keeps employees and improves their reputation in the community.

You may think they’re trying to do good, but they’re really just in it for themselves. But how can anyone be cynical about a cause like going green? We should all support companies that implement eco-friendly policies if we care about our future and want to leave a positive legacy.

Business Sustainability Strategies

If you’re a business owner, you are no doubt aware of the importance of keeping your business sustainable. It won’t survive otherwise. Building sustainability into your organization is a terrific approach to prepare for the future. 

The business sustainability strategies may include intentional sustainability, water and electric conversions, supply chain efficiency, develop recycling programs, purchase only energy efficient products, develop sustainability work policies and others. 

Final Thought 

More businesses are going green than ever before, and many people are taking advantage of the benefits. If your business hasn’t yet shown that it’s willing to go green, you may be missing out on some great chances to make your business more environmentally friendly by taking steps in that direction. 

The more businesses go green and keep going green, the easier it will be for other businesses to do the same down the road, Sustainability is a good goal for any business to work toward over time.

In order to help businesses all over the world see how the green movement can help them, I have looked at a lot of different business going green stats. You don’t want to miss these important findings, whether you run a big business or a small one.

Source

1.https://newclimateeconomy.report/2018/

2.https://link.springer.com/article/10.1007/s42398-018-0013-3

3.https://www.bsr.org/en/our-insights/blog-view/csr-sustainability-business-trends-now-and-the-future

4.https://b8f65cb373b1b7b15feb-c70d8ead6ced550b4d987d7c03fcdd1d.ssl.cf3.rackcdn.com/cms/reports/documents/000/002/327/original/Carbon-Majors-Report-2017.pdf?1499691240

5.https://www.conecomm.com/research-blog/2017-csr-study

6.https://nielseniq.com/global/en/insights/analysis/2015/the-sustainability-imperative-2/

7.https://scholar.harvard.edu/hiscox/publications/buying-green-field-experimental-tests-consumer-support-environmentalism

8.https://www.greenbiz.com/report/state-green-business-report-2018

9.https://www.simon-kucher.com/sites/default/files/studies/Simon-Kucher_Global_Sustainability_Study_2021.pdf

10.https://www.nrel.gov/docs/fy09osti/44261.pdf

11.https://www.reportlinker.com/p05816393/Green-Technology-and-Sustainability-Market-by-Technology-Application-Global-Forecast-to.html?

12.https://www.pwc.com/cl/es/publicaciones/assets/2019/report.pdf

13.https://www.xerox.com/downloads/usa/en/x/Xerox_CSR_Report.pdf

14.https://link.springer.com/article/10.1007/s11187-017-9942-y

FAQs

What does going green mean for business

Ultimately, going green means so many different things to so many different people. But it’s easy to understand how a reduction in the cost of energy and resources used might result in substantial savings for a corporation. 

Plus, if you really want to save money on your utilities, utilizing less energy will move you ever closer to that objective

What do most companies today focus on when it comes to protecting the environment?

What most companies will tell you that they focus on is recycling their waste products, though the degree to which they do so varies based on specific company, and product. Recycling is one way to minimize the impact of your business, but it’s not enough. 

Most companies also try to minimize water pollution by only using as much water as they need to create a product, though some companies already have more sustainable products than others. 

The future of sustainability in all businesses will certainly be an interesting one to see unfold, but certain companies are clearly ahead of the game when it comes to improving their environmental impact.

What are sustainable business practices

The sustainable business practices may include use of biodegradable materials, reduce paper waste, better water management plan, invest in green projects, sustainable business travel strategies, use of modern ways to schedule and host conferences (Zoom) and many others.

What movement has encouraged marketers to pursue environmentally sustainable strategies?

While there are a plethora of groups working towards sustainable developments and eco-friendly products, there has been one main trend that has motivated many marketers to begin to adopt more sustainable strategies—that movement is millennials. According to nielsen study reported that, 73% of Millennials will pay more for eco-friendly goods.[6]

This generation is more likely to choose sustainable products thanks in part to their increasing environmental knowledge, which originates from their generational attitude that sees consumers as stakeholders, not just customers

What can companies do to become sustainable

There are several things that a business may take to become more sustainable. It’s crucial to recognize that the idea of “going green” is not merely a fad or trend. Going green can be seen as adopting efforts to minimize environmental deterioration and encourage sustainable behaviors.

The most important thing anything can do to become sustainable is limit consumption. If you don’t need it then don’t buy it

And others include creating a paper recycling program, adding motion sensor lighting, buying organic office supplies, and thinking about the items they order. These adjustments might seem little now, but if everyone in the world thought in this way we could live in a far more sustainable future.

What is the difference between sustainability and going green

So, what is the difference between sustainability and going green? The good news is that the distinction is minor and the meanings are nearly identical. 

The only exception is when referring to an environmental certification process or program. Instead of “becoming sustainable”, you may use “certified green” or “going green”. It’s easy to confuse the two concepts because they’re both about how we live and treat our world.

What was the world’s most eco-friendly country in 2022

In 2022, Denmark was the world’s most eco-friendly country, with Luxembourg and Switzerland following close behind. The United States was ranked twenty-four.

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