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Pros and Cons of going green for a business

Pros

  1. Reducing energy waste will allow you to save resources as well as decrease costs. The efficiency of the business operations improves a result. Added costs also disappear as excessive waste reduces. Technology costs are also improved as more efficient tech is put in place. An example of this would be LED lights.

  2. Becoming an environmentally friendly business reduces the negative impacts your business has on our environment. Natural resources are saved we can avoid the consumption of our resources. We reduce pollution, maintain the Earth's resources and meet the sustainable goals set for our planet.

  3. With going green the brand image of the business will change to a more environmentally friendly image. This attracts green customers and positively improves the brand of the business. Reputation and brand image grow along with bringing in loyal consumers. Green consumers allow for innovative ideas for the business.

  4. Employees looking for social responsibility will also actively take part in going green while also raising their morale. Incentives based on going green can also be introduced into the business. Employee bonuses based on sustainable goals would motivate the employees.

Cons

  1. When going green the initial costs can be very high as the technology for going green are relatively new. Although savings will be made, the initial cost may be too pricey.

  2. Going green is a timely process. You can't go green within a week. It is a process which requires dedication and patience. It will be difficult to implement the changes but the reward in the long run is worth the wait.

Green finance

Apart from bringing environmental benefits, green finance also helps promote technological innovation and facilitate growth of green industries, while creating potential business opportunities for the financial sector. Green finance will get you the finance necessary to make changes while allowing you to take your time in paying back the quote and applicable interest.



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