U.S. Companies Mitigate Risk Through Sustainability
According to the Ashkin Group, a consulting firm specializing in green cleaning, a new study shows that companies are turning to sustainability in order to reduce risks. The study conducted by Deloitte Resources is known simply as the Deloittle Resources 2017 Study and is based on findings from the 2016 calendar year.
The study was designed to discover the views of U.S. consumers and commercial enterprises on the subjects of sustainability and the use of natural resources. The research consists of 700 online interviews with “business decision makers” in companies with more than 250 employees from a wide range of industries.
“The gist of what they found was that companies are getting much more involved in resource and energy management,” said Stephen Ashkin, CEO of Sustainability Dashboard Tools. “In fact, it has been increasing in increments for nearly a decade.”
The major reason for paying closer attention to resources and energy use is nothing less than money. Companies are looking for new ways to cut costs.
“However, they found something else evolving,” added Ashkin. “According to the study, more than eight in 10 now say they are shifting from merely focusing on cost reduction to risk reduction.”
Reducing risk, of course, is how businesses maintain resiliency when prices unexpectedly rise for energy needs, including fuel and water. It is also how companies survive natural disasters, such as hurricanes, floods and fires.
Following are a few of the key findings from the study:
- Sixty-one percent of decision makers say their customers are demanding increased sustainability and the use of renewable resources.
- Sixty-five percent admit they use sustainability as a marketing tool by publicizing their efforts.
- Businesses reduced their energy consumption by an average of 19 percent compared to 15 percent in 2015 and 14 percent in 2014.
- Fifty percent of respondents now have written energy statements or mission statements about energy use/sustainability.
“On the consumer side, the researchers found that Millennials are strongly behind sustainability initiatives,” concluded Ashkin. “They promote and share innovations on social media and are willing to put their money where their values are.”