Does your company have energy sustainability goals? Should it? By 2030, improved energy efficiency can save industries over $430 billion. According to new studies, over 50,000 companies are subject to mandatory sustainability reporting. Whether your organization is large or small, there are many reasons why setting and achieving energy sustainability goals may make good business sense. If your business needs help navigating this world, contact the Dohrwardt Law Firm to discuss potential incentives, help you negotiate specialized energy contracts, or advise you on your compliance obligations. 

Sustainability by the numbers: Over 60% of consumers worldwide express concern about climate change, 50% say sustainability is one of their top criteria when making purchase decisions, and American consumers are willing to pay 11% more for sustainable products. (Sources used in this post: Thompson Reuters; Deloitte; KPMG; McKinsey).   

What are some of the benefits of your company setting energy sustainability goals? 

Cost Savings: Energy-efficient practices can significantly reduce organizations' costs. Organizations can lower operating costs and improve their bottom line by reducing energy consumption. For example, investing in energy-efficient lighting, heating, and cooling systems can reduce energy bills and maintenance costs. In many states, these improvements provide businesses with financial opportunities through various incentives. See the Database for States Incentives for Renewables & Efficiency and the Energy Information Administration to learn more.

Brand Reputation: Customers and stakeholders are increasingly concerned about environmental sustainability. Nearly half of all consumers say sustainability is one of their top considerations when purchasing. Almost a quarter of employees would consider switching jobs to work for a more sustainably focused company. Organizations can demonstrate their commitment to sustainability and enhance their brand reputation by setting and achieving energy sustainability goals. This can increase customer loyalty and attract new customers who value sustainability. And it can empower your employees with pride and purpose.

Competitive Advantage: Organizations that adopt sustainable practices can gain a competitive advantage in the marketplace. By reducing their carbon footprint and promoting sustainability, organizations can differentiate themselves from their competitors and appeal to environmentally conscious customers. Since so many consumers share that sustainability is one of their purchasing considerations, your initiatives here may be the differentiator between you and your competitor.  

Regulatory Compliance: Many countries require organizations to report on their carbon emissions and energy usage. Companies that state goals or advertise commitments will want to ensure they are truthful in all communications. This advice also applies to companies applying for and receiving sustainability incentives.

Innovation: Setting and achieving energy sustainability goals can drive innovation and lead to new business opportunities. For example, investing in renewable energy sources such as solar and wind power can create new revenue streams through participation in energy net-metering and demand response programs. Your business may qualify for various incentives depending on your location and programs. 

Setting and achieving energy sustainability goals makes good business sense. Organizations prioritizing sustainability can reduce costs, enhance their brand reputation, gain a competitive advantage, ensure regulatory compliance, and drive innovation. Contact the Dohrwardt Law Firm for more information or assistance with your sustainability program.

The information provided is only for general information and is not meant to be legal advice. Information on this website, including third-party links, may not be the most up-to-date, so you should contact your attorney to discuss your particular matter. Third-party links are provided for convenience only and are not an endorsement by the Dohrwardt Law Firm.