This week, we covered a lot of ground –
First, we looked at consumer preferences – Consumers are abandoning non-sustainable companies. The cost of becoming environmentally certified sustainable is less than the cost of losing clients.
Second, we looked at how your advertising is working, or not working – Consumers don’t want to hear about your brand, they want to hear about your sustainability commitment. The cost of becoming certified sustainable is probably less than what you are spending on advertising, and it would make your advertising far more powerful.
Third, we looked at your ability to hire and retain talent – Certified sustainable companies are paying less to hire and retain talent. The cost of becoming certified sustainable is less than the cost of a single lost hire, or employee that quits.
Fourth, we looked at your corporate clients. They are going to demand you become certified sustainable. Think about who wins the bid when one of you is certified sustainable.
Fifth, we looked at the lenders – Cost of money will be higher for non-certified sustainable companies as lenders have attached higher risk to non-certified companies. The cost of becoming certified sustainable is less than the interest rate differential you are going to see.
And finally, we looked at government regulations – By the end of this year, governments (including over 50) controlling +50% of the world’s economy will have sustainability carbon emissions regulations in place. The question is when, not if.
We did not spend time on the fact that becoming environmentally certified sustainable is the right thing to do for the environment and future generations. That should be reason enough.
If interested in learning more, this PPP provides suggestions on what to consider when thinking about sustainability.