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30 Steps to Another Way Business: Finance & Admin

Step 27: Pricing

There are several reasons why improving your environmental performance makes for good business. Making environmental improvements is often seen as costly and therefore not ‘smart business’, but the product will inevitably be better quality and can be affordable if done correctly.

  • Cutting costs – using less energy, water and raw materials will reduce your purchasing and waste disposal costs meaning more costly products or processes can be performed. For example, avoiding overpackaging, using lightweight packaging and reusable boxes will all reduce costs and improve environmental performance.
  • Business opportunities – creating new products and marketing them as environmentally friendly/working with organisations with good environmental credentials will show stakeholders how you are improving your environmental performance. This will encourage stakeholders to use your business and as a result it will become more environmentally friendly and cost effective.
  • Future proofing – understanding and improving your business’ environmental impact, you can better appreciate how future changes and new legislations will affect you and prepare for them in advance.