There are four primary benefits that our members continuously communicate, that result from reducing their organizational carbon footprint.
1. Enhanced Brand
Member organizations enjoy an improved image due to their voluntary environmental actions. This enhanced brand is promoted by NSI in the form of recognition events, reports, and updates through various media outlets. Now, more than ever, customers are choosing products and services that are provided by environmentally and socially responsible companies.
2. Employee Attraction/Retention
The majority of young professionals would prefer to work for an employer who is environmentally responsible. In fact, 92% of young workers would opt to work for an environmentally concerned company, whereas 77% of MBA students are willing to earn a reduced wage to work for a company with a sustainability policy. By committing to environmental sustainability through facilitating GHG reductions, partner organizations will be able to attract and retain top talent. Driving down GHG emissions will instil pride in current employees and attract new talent to partner organizations and the Region.
3. Energy Savings
With the cost of energy expected to rise, taking steps to identify energy savings now will also benefit cost savings in the future. Reducing energy consumption not only reduces carbon emissions but also reduces risk – including the risk of being vulnerable to unpredictable energy and gas costs.
A sheet metal manufacturer and Sustainable Waterloo member in Cambridge, Ontario will save in excess of $1 million over the next 10 years in energy costs. What’s more, carbon emissions have decreased by 233 tonnes per year and profits have increased from 3.0% to 7.6% for this manufacturer.
4. Risk Mitigation
The risks resulting from the following can all be mitigated through GHG reduction projects:
- Volatile energy markets
- Poor brand reputation
- Changing legal and regulatory requirements
By voluntarily partnering with NSI, businesses are able to calculate and assign a cost to carbon emissions. Organizations can begin to prepare for the inevitability of an economy in which carbon is regulated and deterred through financial mechanisms (cap-and-trade, carbon tax, etc.). Quantifying the amount of emissions a company produces is an important step towards managing carbon emissions efficiently and identifying potential for reductions and savings.