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Deloitte Study: Going Green Sparks Innovation

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Many corporations are now looking at sustainability and green initiatives with a new, more positive perspective.

Once considered as only good public relations but irrelevant to a firm’s bottom line, or as a bow toward consumer demand, green and sustainability programs are driving innovation, and companies are now reaping the benefits.

A recent study conducted and published by consulting giant Deloitte, reveals that companies implementing green programs have created better products and more efficient and smarter ways to operate.

The major elements of any sustainability and or green-oriented business processes include the responsible and careful use of energy, carbon, water and materials, and EPA-recommended disposal of waste.

According to the Deloitte study judicious use of these basics “…can present a business with significant opportunities to boost efficiency and cut costs.”

At the cutting edge of the “green revolution” are the designers and production specialists that have been creating new products and methods to manufacture them that conserve resources — energy, water and raw materials.

Green initiatives and sustainability programs have also been developing in the clothing and textile manufacturing sectors.

For firms not yet wholly committed to sustainability, the Deloitte study recommends that the senior management ask these questions as a prelude and a guide to beginning a green initiative.

Are commodities and raw material used in the business being depleted too quickly, or being needlessly wasted?  Can the waste of materials be reduced?

Can energy be used more efficiently while maintaining or increasing production?

How will increasing scarcity of water in foreign venues impact the manufacturing process and the company’s bottom line?

Will consumers pay more for green products?

Deloitte recommends several additional questions and suggests methods for measuring performance and results.

The big take-away is that sustainability programs and initiatives can ignite creativity and innovation, and produce major dividends for the companies that go green.

 

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