Sustainability a key concern, according to UL study

Sustainable energy is becoming an integral part of how companies conduct business, as it can not only cut down on environmental pollutants, but slash expenses. In fact, according to a new report by Underwriters Laboratories (UL), implementing sustainability measures is becoming key to many companies. Eighty-one percent of manufacturers claimed that sustainable products have an impact on their market sales, while 89 percent said operational sustainability was important to their businesses.

"The volatility in today's world is causing companies and people to look at the products they make and consume with more scrutiny than ever before," said Keith Williams, CEO of UL."We are seeing manufacturers showcase aspects of their supply chain as consumers demand more transparency. Where a product's made, how it's made and what's in it are paramount."

The study, The Product Mindset, surveyed global perceptions companies and consumers hold about sustainability and green initiatives in business.

Consumers demand sustainability
Customer satisfaction may be the driving force behind the attempt of some companies to add more sustainability initiatives. Sixty-seven percent of respondents agreed that the well-being of the environment has become more important to their consumers, and another 53 percent claimed their clients are demanding affordable, sustainable products.

The survey also found that many consumers don't think companies put enough of a focus on green energy, resource use and other environmental issues. According to Environmental Leader, twenty-five percent of consumers claimed sustainability was the important factor companies should consider when developing building materials. Another 16 percent thought it was the top issue in the fresh food industry, while 14 percent believed sustainability was important in the processed food industry. Fifteen percent thought it was extremely important for those who develop smart appliances and another 10 percent thought consumer electronics companies should focus primarily on sustainability.

Sustainability can result in savings
However, sustainability does more for a company than improve its standing with consumers. Going green can also save a business money, with efficient, renewable energy sources that are more prevalent than ever before. Wind power or solar energy installation can save a company money on energy expenses and power its headquarters, manufacturing facilities or distribution centers.

Many companies looking to invest in renewable energy technologies or sustainable processes can find the initiatives pay off after the initial investment and benefit an enterprise's bottom line.

Getting Started

Find your ideal banker:

Select any filter and click on Apply to see results

Featured Insights

While some economists and market watchers are fretting over the way crowdfunding and super angels are upending the...

First-time entrepreneurs launching their initial startup company are no doubt overwhelmed by a huge variety of...

Silicon Valley tech funding is venturing into unchartered territory.  According to the PitchBook 2Q 2015 PE...

By standard economic metrics, the country fully recovered from the recession in late 2013 when real GDP per capita...

Small-business owners are currently borrowing in record numbers. According to the most recent Thomson Reuters/PayNet...

Business leaders struggling to decide between raising debt vs. equity as the best path to growing their business...

From training staff to managing the company to working the books, small-business owners are constantly spinning...

There's good news in the big world of small businesses. According to the Kauffman Foundation's Index of...

Finding startup financing for a new enterprise or funding for a business expansion can be a challenging obstacle to...

Small business banking should be seeing a boon in the coming months provided trends continue if a recent...

Recent News

07/28/15
The Euro opened the week stronger within an overall risk-off context climbing from...
07/24/15
Well things have slowed down a bit in the currency markets this week with the Greek...
07/17/15
Another exciting week in the foreign exchange markets comes to an end today with...
07/10/15
While nothing has ‘really’ changed with the Greek situation, plenty has happened...
07/02/15
If you happen to be growing tired of ‘Grease’ lyrical references, imagine how tired...
06/30/15
PHOENIX - Western Alliance Bancorporation (NYSE: WAL) today completed its merger...
06/26/15
In a fairly uneventful week in terms of economic data, the Greek situation was at...
05/21/15
Michael Hengl and Ryan Banta to lead new teams at Bridge Bank San Jose, CA – May 19...
05/19/15
San Jose, CA – May 19, 2015 – Bridge Capital Holdings (NASDAQ:BBNK), whose...
05/08/15
The US dollar has given up roughly 3.5% against the Euro this week and, with the...

Twitter

Featured Insights

Featured Insight

Business leaders struggling to decide between raising debt vs. equity as the best path to growing their business...

Featured Insight

Clarity can go a long way toward convincing an investor to buy a stake in your business. If you believe your company...

Featured Insight

Recurring revenue lending is an alternative form of senior debt financing that is particularly useful to growing...

Recent News

While some economists and market watchers are fretting over the way crowdfunding and super angels are upending the...

First-time entrepreneurs launching their initial startup company are no doubt overwhelmed by a huge variety of...

Silicon Valley tech funding is venturing into unchartered territory.  According to the PitchBook 2Q 2015 PE...

Twitter