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Lucubrate Magazine, February 13th, 2023
A green enterprise is a business committed to prioritising the environment in its operations. It is an organisation that works to reduce its environmental impact and encourages sustainable practices throughout its supply chain.
Green enterprises strive to create products and services that are both economically viable and socially responsible while also taking into account their environmental impacts. Green enterprises focus on reducing their carbon footprint, conserving resources, and protecting natural habitats. They also strive to educate their customers about the importance of sustainability and how it can benefit them in the long run.
“Go Green”
In general, several options are open to enterprises to reduce their impact on the natural environment or “go green”. One option is producing green goods and services, such as solar panels. Another option is to adopt greener production processes – in other words, to use renewable energy and sustainable raw materials, using a technology that produces more output with the same level of inputs (resource efficiency), and manage waste more efficiently. [1]
However, there is more to enterprises than what they produce and how they make it. Enterprises are also workplaces. For many enterprises and workers today, the greening of workplaces can significantly reduce carbon emissions. For example, sustainable commuting, energy and waste management at the workplace, teleworking and sustainable food at work are relatively ordinary. In this context, the extent to which enterprises may be considered green depends on how much they green their outputs, production processes and workplaces. [1]
Typically Green Business
Being a green business is more than just being environmentally friendly. It involves a commitment to sustainability, fair wages, and employee social benefits. It also means reducing resource use and ensuring that the company’s operations are in line with environmental principles.
Green businesses strive to positively impact the environment by minimising their carbon footprint and using renewable energy sources whenever possible. They also focus on creating quality products designed to last and reduce waste.
By embracing green business practices, companies can demonstrate their commitment to sustainability while increasing their profits by reducing resource use and improving efficiency. Green businesses can be an excellent example for other companies looking to make a positive change in their operations.
A green business will typically do any or all of the following [2]:
- Incorporate principles of sustainability into its business decisions and actively monitor them.
- Pay staff a fair wage for the work they do and ensure that they can maintain a good work-life balance.
- Distribute benefits equitably across the value chain.
- Maximise the social benefits of the business (e.g., by employing marginalised groups). Some companies set up foundations to assist with this – but a sustainable business doesn’t confine its social activities just to charitable donations – it looks for every opportunity to increase the social benefits of the industry in its day-to-day operations.
- Supply environmentally friendly and local products and services that replace the demand for non-green or imported products and services.
- Help its community become more sustainable (e.g., by reducing energy or water use, waste or pollution).
- Make efforts to reduce resource use (energy, water, materials) and replenish, enhance, or substitute an environmental resource the business uses (e.g., replanting trees, enhancing soil fertility, using renewable energy).
- Make an enduring commitment to environmental principles in its business operations.
The benefits of going green
Going green is an excellent way to improve businesses. By implementing sustainable practices and investing in green technology, companies can not only save money but also make a positive impact on the environment. The benefits of going green include earning incentives from local governments, enhancing your brand image, and increasing sales. Furthermore, going green can help companies to stay competitive in today’s market as customers become more conscious of their environmental footprint.
References
[1] Greening Enterprises Transforming processes and workplaces (ILO 2022)
[2] What is Green Entrepreneurship? (https://gggi.org/wp-content/uploads/2019/04/GGGI-Guide-to-Green-Entrepreneurship-in-Kiribati-Chapter-2-What-is-Green-Entrepreneurship-1.pdf)
Lucubrate Magazine February 2023
The illustration on the top of the article: Adobe Stock
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