Sustainability is an opportunity. Not just for humankind, but also for your business

Sustainability is an opportunity for your business. Not only mankind.
Photo: Shutterstock

Sustainability as a core in business? Lyft approves

Furthermore, the company has taken on a multi-million-dollar investment to make all its rides carbon neutral. This also impacts on the reduction of emissions in the car manufacturing process, funding renewable energy programs, forestry projects, and the capturing of emissions from landfills.

“In 2020, the company had already spent over $2 million on carbon credits — the equivalent of the amount Lyft reckons it emits across its entire operations.”

And this falls very neatly into its marketing strategy. The Lyft app consistently presents the company as being a caring, community-based business. This perception of an environmentally switched-on company has resulted in increased customer retention and acquisition rates.

https://sustainability.creativedock.com/ — Sustainabilitity landing page of Creative Dock for building green ventures
https://sustainability.creativedock.com/

The story behind becoming a millionaire and giving it all up

Patagonia, the high-end clothing company, has also taken a bold sustainability initiative. Its “Common Threads Recycling Program,” not only gave the company a huge amount of PR, but retrieved 45 tons of clothes from its customers and recycled them into 34 tons of new garments.

“And here we know for a fact that it never was just brainwashing. Mr. Chouinard and his family recently transferred a $3 billion company to a non-profit organization fighting climate change. It's just the icing on the cake of the Patagonia story.”

Let’s be honest: Sustainability forces us to innovate to survive

This drive towards sustainability, and adherence to Environmental, Social, and Corporate Governance (ESG) directives, has also resulted in some surprising innovations in the industrial sector.

“By switching from conventional light bulbs to light-emitting diodes (LEDs), the company realized huge savings, largely down to the fact that LEDs emit very little heat.”

And Energy Efficient LED bulbs also consume less electricity than conventional bulbs. Indeed, industry experts believe switching to LED bulbs over the next 20 years would save $250 billion in costs, reduce energy consumption by 50 percent, and avoid an astonishing

Simply changing light bulbs means breathtaking energy savings

A further case study should suffice to win over even the most sceptical. In 2017, the Copeland Compressor manufacturing site made a strategic decision to switch from T-5 fluorescents to LEDs in all its manufacturing and office space. The site now saves $300,000 annually due to a whopping 77 percent less electricity usage. The payback period for implementing such sustainability initiatives was around 2.5 years.

Sustainable business models are core of the future economy. But let’s start with changing the conventional bulbs at your premises for LED lights.
Photo: Shutterstock

“Important questions such as where and how much energy is used by the company, and how that energy can be used more efficiently are among the topics to be addressed.”

One such Treasure Hunt was utilized at the Kautex plant in Hengoed, Wales. The team of employees identified and implemented a number of low-cost projects to reduce the factory’s energy usage.

Join the new game: Energy Treasure Hunt

Projects such as adjusting and aligning heating, ventilation, and air conditioning temperature settings, adding a leak detection program and installing motion detectors and switches in lighting zones, accounted for a 32 percent reduction in electricity consumption, and a 56 percent decrease in gas usage over the period of a year. Such reductions resulted in savings of more than $300,000 annually.

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We create new products by building & scaling them on top of big companies' existing assets. With the aim to increase the value of clients. Creativedock.com

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Creative Dock Corporate Venture Builder

Creative Dock Corporate Venture Builder

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We create new products by building & scaling them on top of big companies' existing assets. With the aim to increase the value of clients. Creativedock.com