Waste in any form, is bad for business. Quite simply; reducing waste, reduces cost which improves a business’s bottom line.
A carbon footprint helps to identify the waste or inefficiencies within a business in terms of energy and raw material consumption. With energy costs increasing and shortages of water and other natural resources predicted, this information is vital for a business to ensure informed decisions can be made to overcome such adversity.
Finding a major global company that hasn’t completed a carbon footprint is becoming a rarity. A global standard for carbon foot printing is the GHG protocol. It has set a global standard for how to measure, manage, and report greenhouse gas emissions. Within this protocol companies need to report scope 1 (direct) and scope 2 (indirect) emissions and are coming under increasing pressure to report their scope 3 (indirect) emissions as well. This has shifted the magnifying glass to companies supplying or using services or goods associated with these global companies. This means they are now interested not just in the quality of the service or product within their supply chain but also the effect it will on their carbon footprint.
Carbon foot printing is therefore not just for the big boys. It is for anyone who wants to play with them or even play with those who want to play with them. Put crudely, by carrying out a carbon footprint a business can increase its chances of being asked to play.
Carbon foot printing uses data already collected by a business, such as energy bills and travel expense claims and so does not have to be resource expensive. However, it is not just a tick box exercise that improves a business’s access to this all important group. As already mentioned it helps a business identify ways to reduce cost and risk. Also 92% of young employees prefer to work for organisations with “green” credentials and therefore such companies are able to attract talented individuals who are more likely to stay longer, reducing recruitment and resource costs1. In addition, if a business chooses to publish its carbon footprint, and even better have it verified, it can have a positive impact on its brand awareness.
Carbon footprinting has been around for a while now and may almost seem old school – but out of date it is not. Why? Put bluntly, it is simple to carry out yet provides a variety of plus’s all of which positively affect the bottom line of any business, big or small. Not hard to see therefore, why it has stood the test of time including times of economic hardship.
- Mattioli, Dana. How Going Green Draws Talent, Cuts Costs. The Wall Street Journal. November 13, 2007.