Energy Efficiency First
Through energy efficiency - defined as using less energy to provide the same or improved level of output - is often seen as less spectacular than a wind turbine or a solar panel, it represents one of the largest opportunities for mid-Michigan businesses to gain significant financial savings while reducing stresses on our environment. Energy efficiency strategies for business fall into two major categories; employee behavior, and building and technological improvements.
Encouraging employees to engage in energy efficiency is key to any businesses overall energy strategy. Just this year, Ford announced that an estimated 60% of its employees were not turning off their computers after businesses hours. As a result, Ford instituted an employee policy and installed software that will save the company over $1.2 million annually. In regards to building and technological improvements, there are countless measures that businesses can undertake to reduce energy consumption, but often the list can seem too daunting and the measures too costly. Luckily for mid-Michigan businesses, there are a number of resources that can help make pursuing energy efficiency less intimidating. Michigan Energy Options and the Lansing Board of Water and Light (BWL) both offer energy audits for commercial buildings. Additionally, local utilities, the BWL and Consumers Energy, also offer a number of incentive and rebate programs to help reduce the upfront cost and shorten the payback period for businesses looking to invest in energy efficiency improvements.
There has never been a better time to invest in energy efficiency and it is one of the full-proof means for mid-Michigan businesses to ensure positive financial and environmental returns.
Green Investments, Green Returns
The ongoing BP catastrophe has revealed many vulnerabilities in the supply and our demand for fossil fuels, but it has shed further light on the increasing importance of investing in companies and industry sectors that conduct business in a environmental and socially responsible manner (BP’s stock has plunged more than 50% since the beginning of the of the spill). Businesses are now increasingly looking for green and socially equitable investment opportunities. Also known as Socially Responsible Investments (SRI), SRI mutual funds offer a way for businesses to diversify their investment strategy, while also supporting companies that take environmental and social responsibility as a priority.
Stay Grounded
It is of little surprise that flying may be the quickest way to travel, but it also results in high emissions of air pollution and climate inducing carbon dioxide (global aviation currently accounts for 2-5% of human CO2 emissions). Businesses, however, can reduce their air travel budget and their ecological footprint by encouraging employees to take alternative means of travel. Web tools, such as GoToMeeting, Webex and Skype have become increasingly popular and accepted amongst the business community over the last several years. Though web interface tools may not entirely replace the face-to-face interactions businesses have with partners and clients, they can help to significantly reduce and even eliminate unnecessary travel, and subsequently, emissions. If long-distance travel is unavoidable, employees should be encouraged to explore their travel options and utilize air travel as a last resort. Though an Amtrak trip from East Lansing to Chicago may not be as quick as an equivalent air commute, it is less costly, less carbon intensive, and often, far more relaxing.
Smarten Your Commute
Another way Greater Lansing area businesses can go green is by offering employees’ incentives to smarter their commutes to and from the office. By simply encouraging employees to carpool, bicycle commute, take public transit, or make more trips by foot to and from the office, employers can help their staff members save money, get fit, and have a positive impact on the environment.
Even more effective than simple encouragement programs are payroll incentives for employees. The federal government has granted nice tax breaks for some transportation-related employee fringe benefits, including transit passes, vanpool programs, parking cash-out allowances, and a new bicycle commuter tax credit.
Buy Green to Go Green
If your business is a larger purchaser of office supplies, paper products, or electronics, consider adopting green procurement policies and practices. By making a conscious choice to buy eco-friendly, recycled, and Energy Star-rated products through your regular company procurement practices, you can save money, improve supply-chain performance, and have set your business apart as a green company.
A growing number of product suppliers are coming to recognize that the eco-friendliness of their products can be a competitive advantage in courting and maintaining relationships with corporate customers. Meanwhile, suppliers recognize that poor environmental performance can just as easily put them at a disadvantage. This recognition is making it easier for managers and executives to team with their procurement departments to investigate their current purchasing practices and make a conscious effort to go green.
Written by: Tremaine Phillips and Rory Neuner