Environmental sustainability has become an increasingly important topic of conversation among business leaders over the past few years. With growing concerns about the scarcity of non-renewable resources and their impact on the environment, how to incorporate sustainable practices into business has become a significant discussion within many industries. Sustainability is not only beneficial from an environmental standpoint, it can also be financially and logistically beneficial. Here are a few of the benefits of promoting environmental sustainability within the operations of your business.
Enhanced Brand Recognition and Consumer Loyalty
Research from The National Marketing Institute (NMI) has found that consumers are 58% more likely to purchase their products from a company that is aware of its environmental impact. Some companies are concerned that implementing environmentally sustainable practices would force them to raise the prices of their products, but research also suggests that the average consumer is willing to spend up to 20% more on products and services that are environmentally friendly.
Reduced Costs and Improved Financial Opportunities
It is a common misconception that environmentally sustainable operations will cost your company money. Actually, environmentally sustainable operations help to streamline manufacturing and transportation processes, improving efficiency and reducing costs overall. Furthermore, a recent study from Goldman Sachs found that environmentally-conscious companies have begun to outperform other businesses in the stock market, meaning that future financial opportunities seem to be in favour of sustainable companies. Government regulations also provide a financial incentive for companies to go green.
The improved efficiency and financial advantages of sustainability make it the optimal business strategy for companies looking towards the future. One of the easiest environmentally-conscious practices to implement is the use of recycled and refurbished wood pallets. Having your wood pallets recycled and refurbished reduces waste, saves you money on disposal and replacement costs, and helps to make the transportation and storage process more streamlined and efficient.
At Pallet Management Group, we are dedicated to providing our clients with the highest-quality recycled wood pallets at an affordable price. We also buy used wood pallets if you have damaged pallets taking up room in warehouse. For more information about our recycled wood pallet products and services, contact us today at Pallet Management Group.