Five ways regenerative principles can benefit your business

2020 Fellow Ayan Said highlights the benefits businesses can gain from embracing a regenerative approach.

In partnership with Royal London, we are looking to mobilise innovative approaches to drive a fair & inclusive transition to a green economy. We know that it is often the most vulnerable who end up bearing the financial costs of such transitions and we want to ensure that workers, communities & citizens are supported.

Year Here’s Fellows are gaining insight from organisations tackling the societal elements of climate change, the community impact of the move to net-zero and the people power of the circular economy.

This is an issue that will have repercussions for everyone so here our alumni Ayan Said highlights the benefits businesses can gain from embracing a regenerative approach.

The industrial revolution transformed our global way of working, productivity, and economics.

Our evolution into a culture of instant gratification has caused us to instinctively seek quicker, more efficient solutions. And the production of faster, cheaper supply has distracted us from the consequences of factories and labour-saving machines that compromise wellbeing on every level.

This compromise has benefited the business world immensely as we produce innovative tools, technological advances, and control over customers — but it has come at a significant cost to the planet and the people.

The extent of the devastation caused by climate change is often viewed as something in the far future. But unfortunately, regenerative efforts aren’t just to preserve the planet for future generations but to protect the millions of people being impacted in the present time by our lack of action.

Extreme weather conditions destroy people’s lives and homes. Children are dying due to a lack of access to clean water. We are failing beautiful habitats, resulting in the loss of 137 species of plants, animals, and insects every day.

There’s a great deal of advocacy for businesses to be more environmentally conscious. Research has consistently demonstrated that a company’s bare minimum approach fails to see the systematic damage climate change can do to the world and business itself.

Just 100 businesses cause 71% of global emissions, so while we need significant systemic change and pressure on these corporations, there’s work that every company can do to ensure we are doing our part. Here are five reasons why being environmentally conscious is crucial for your business.

Deeper connection with your community

The more information shared about businesses’ impact on the environment; the more customers and stakeholders become aware of their purchase consequences. By implementing regenerative efforts, you can retain longer relationships with your consumers. The millennial and Gen Z market especially expects businesses to be engaged in reducing environmental impact.

Employee productivity and retention

Being environmentally conscious will not only help you with your external brand image, but will build the foundations within the company. Employees are increasingly choosing to work for businesses that are aware and actively participating in reducing their footprint.

Saving on costs

Connecting with your customers might lead them to spend more, as research has shown consumers are willing to pay more for environmentally conscious brands. Some other ways that you save money is by cutting costs in eco-friendly ways, including going paperless, switching to a green energy supplier, purchasing second-hand furniture and equipment and cutting down on emissions.

Financial and investment opportunities

A Goldman Sachs study highlighted that companies committed to the green recovery outperformed the general stock. This points to more productivity from quality employees or loyal customers that respect and recommend the brand for its ethics. Further opportunity and revenue is available to businesses that hold solid and sustainable initiatives.

Future-proofing

By becoming more environmentally conscious, you protect your businesses future in an ever-changing culture that is increasingly committed to regenerative development. Many companies are now legally required to reduce carbon emissions and slow down their damaging emissions. Becoming a globally responsible brand will aid you in business risks you may incur because of being distracted by cheaper and faster productivity.