Lately, corporations are experiencing a positive form of peer pressure. An increasing number of businesses are reevaluating their energy choices and are implementing cleaner, cost-effective initiatives in order to become more sustainable than their competitors.
The key driver of this trend, however, is not what you’d expect.
In fact, a recent survey of 432 large companies from Europe, North America and Asia revealed that reputation, or the pursuit of social acceptance, is the main reason why companies are striving to become more sustainable. This contradicts the common assumption that corporations implement sustainable energy initiatives primarily to cut costs, thereby maximizing profits. The survey, which was published in the Journal of Business Ethics, shows that corporations feel that gaining a reputation as a sustainable organization provides legitimacy.
We see the results of this trend happening right now. For instance, huge American companies such as Proctor & Gamble and Goldman Sachs have taken the RE100 pledge. By taking this pledge, organizations promise to work toward powering their facilities with 100 percent renewable energy in the next five years.
Small to medium sized business owners might want to take a page out of these large corporations’ books by getting on board with sustainability. After all, no matter your business size, your brand reputation can improve by simply taking part in a cause that many consumers care deeply about. What’s more, making better choices about energy will likely save you money so that you can focus on attaining your big picture goals.
At ConEdison Solutions, we are dedicated to providing business owners with the education and effective solutions they need to improve their use of energy. To learn more about how ConEdison Solutions helps businesses maximize their success, click here.