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

Small-business owners often have to scrimp and save in order to properly handle cash management issues. For many...

The Massachusetts Growth Capital Corporation in partnership with Governor Charlie Baker's administration...

Small businesses have yet to fully take advantage of the innovative ways that mobile technology can connect ...

A growing number of businesses have at least some, if not significant, association with overseas markets and, by...

Owned and operated by Adrienne Mattos and Stephen Moore, AquaTech Swim School focuses on creating the best...

Penguin Computing is an open data center and high performance computing company that delivers processing and data...

Most people don’t think about the tools used to assemble a child’s car-seat or an airplane wing. Yet those tools are...

Aurionpro is a world-class technology company that has successfully grown its business by focusing on the...

Perpetual Energy Systems develops and finances small- and utility-scale renewable energy projects for commercial,...

Fiksu, a Boston-based mobile ad tech company, enables leading brands like Coca-Cola, Burger King, Dunkin' Donuts,...

Recent News

03/27/15
While the US Federal Reserve did remove the word ‘patient’ from its statement last...
03/25/15
Top Performing Bank of 2014 Recognition Marks Bridge Bank’s Fourth Consecutive Year...
03/23/15
As expected, the US Federal Reserve, in their monthly policy meeting on March 18,...
03/09/15
PHOENIX, Arizona and SAN JOSE, California Western Alliance Bancorporation (NYSE:WAL...
ABL Advisor
02/03/15
Privately held technology firm Zeeto announced that it has secured a $3 million...
02/02/15
San Jose, CA – February 2, 2015 – Bridge Capital Holdings (NASDAQ:BBNK), whose...
01/28/15
San Jose, CA – January 28, 2015 – Bridge Capital Holdings (NASDAQ:BBNK), whose...
01/27/15
Record Annual Earnings of $17.6 Million, Strong Loan Growth, Excellent Credit...
01/27/15
San Jose, CA – January 27, 2015 – Bridge Capital Holdings (NASDAQ:BBNK), whose...
01/07/15
San Jose, CA – January 7, 2015 – Bridge Capital Holdings (NASDAQ:BBNK), whose...

Twitter

Featured Insights

Featured Insight

A growing number of businesses have at least some, if not significant, association with overseas markets and, by...

Featured Insight

Owned and operated by Adrienne Mattos and Stephen Moore, AquaTech Swim School focuses on creating the best...

Featured Insight

Penguin Computing is an open data center and high performance computing company that delivers processing and data...

Recent News

Small-business owners often have to scrimp and save in order to properly handle cash management issues. For many...

The Massachusetts Growth Capital Corporation in partnership with Governor Charlie Baker's administration...

Small businesses have yet to fully take advantage of the innovative ways that mobile technology can connect ...

Twitter