Is Environmental CSR Worth the Effort?
Some may be wondering if it is
worth the hassle, and that it might be worth taking shortcuts to achieve
profit. This might have been viable in the past, but we are now at a stage
where this will become unfeasible.
- 44% valued Waste Reduction Practices
As people open their eyes to the severity of the situation we are faced with, consumers and other businesses are becoming more and more self-conscious of who they do business with. This is also something that we should all consider as consumers and not just employees. If we starve the environmentally unfriendly businesses of service, it may force them to change their ways or just naturally reduce their impact on the environment.
A very interesting survey carried out by Deloitte shows results that would suggest consumer attitudes are changing. This means that even in a purely financial sense, it is becoming important to be environmentally responsible.
1 in 3 consumers have stopped buying from a business due to them not being eco-conscious.
The survey investigated the most important values that consumers consider when buying from a business and they were as follows:
- 43% valued Circular Practices
- 43% valued commitments to Reducing Carbon Emissions.
The survey also showed that 85% of consumers are making more informed lifestyle choices with the environment in mind. With this many people incorporating environmental responsibility into their daily lives, the attitudes will hopefully spread into workplaces but also into consumer behaviour which will positively impact the effects on the environment by businesses as a whole. (Deloitte, 2021)
It is not just the area of increased revenue from conscious consumers that can act as a benefit of CSR to businesses. Even for purely profit orientated managers and businesses, practices like turning off lights and machinery when they're not in use, managing waste and properly utilizing resources can help save money for businesses. This is the perfect formula of helping the environment and saves money at the same time. It is one of the tangible benefits of being environmentally responsible.
Benefits of Environmental CSR:
- Boosts brand image and recognition
- Improves engagement
- Increases profitability
- Promotes reputation management
- Reduces costs
(Venturelab.org, 2022)