Sustainability: the Triple Bottom Line and Business Expenses
– This article was last updated on 16 July 2021-
Going green in business is not just about ethics; SMEs and global heavyweights alike make big savings on the back of taking a good look at where they can save energy, generally use less materials, and keep staff focused and happy.
‘The triple bottom line’, or the essential areas of sustainability – social, environmental and economic – will often overlap and influence other, but we can use them as a reference point when approaching that challenge of making a company more efficient, longer lasting and a better place to work.
Environmental and Economic Sustainability
Think energy and material use. LED lighting may be costly to install, but the energy savings are significant (up to 90% is claimed to be achievable) and the quality of lighting much better for office work. Company bosses can lead by example and help create a culture of energy saving, while the viability of renewables, such as solar paneling, can be considered too. Also, office temperatures can be monitored and thresholds established for heating and air conditioning.
Meanwhile, all those outlays on ink cartridges and reams of paper can be swiftly cut back by utilising mobile phone apps and web-based software. The ExpenseIn solution for online expense management is one such cost, material and time-saving opportunity.
By being more conscious of a workforce’s wellbeing we can help bring about greater productivity while reducing staff turnover. A few suggestions might include encouraging cycling to work, promoting staff social activities, such as sports and lunches, or organising out-of-city trips.
Importantly, any plan for sustainability should be based on careful observation and analysis of your business objectives. Include realistic targets, and decide on simple, practical solutions to make your workspace a more efficient place.