Green corporations how going green will save businesses Essay Example

reputation through their "green reputation". It comprehensively examines various industries' efforts to become more environmentally friendly including pharmaceuticals, chemicals, energy, food production, retailing, automotive, construction, logistics, oil sales and domestic appliances.

However, companies must fully utilize their "green" identity as a distinguishing characteristic that can influence consumer behavior for competitive advantages in society. If companies fully embrace and harness the potential impact of their green identity, it could lead to significant conflicts similar to World War III. As mentioned before, when companies expand globally , they unintentionally change climate patterns based on their individual business risks.Organizations are actively taking steps towards sustainability, aligning with stakeholders and their industry's interests. It is important to note that adopting greener practices benefits both global consumers and businesses, leading many companies to trade with sustainable organizations. Authorities and corporations must collaborate to manage and promote sustainable development for a better future.

Sustainable development should be ingrained in corporate DNA, requiring adaptability to environmental changes and innovative implementation ideas. Action is necessary beyond mere talk of being environmentally friendly; reducing environmental impact and carbon footprints is crucial.

Indian corporations play a significant role in transitioning to a greener environment due to less strict business regulations that allow them to exploit loopholes. Survival and growth for corporations depend on considering the environment and natural resources they rely on.

It is vital to avoid negative impacts on the environment by urging the implementation of climate-friendly initiatives such as energy reduction, water management, and waste minimization. To qualify as environmentally responsible corporate entities, it is recommended that companies demonstrate ecological awareness in the sustainable utilization of natural resources.

The eligibility criteria for green corporations include prioritizing environmental jobs

and purchasing products that are certified organic, fair trade or recycled.Companies should ensure that their products have low carbon content and utilize low carbon sources for energy and logistics. It is advisable to purchase renewable electricity and handle it responsibly. Additionally, companies should buy carbon credits to offset emissions from various processes as a demonstration of commitment to environmental protection. Efforts should be made to reduce energy consumption and maximize workplace recycling. The use of low impact products and minimizing consumption to mitigate environmental waste are important goals. Providing positive environmental benefits to employees and engaging in community programs are also encouraged practices.

Appendix II can be referred to compare Green sunglasses of Corporate.

In terms of methodology, there have been various approaches for corporations seeking to adopt greener practices, one being the implementation of Green Architecture or sustainable designs for the environment. This architectural approach aims at minimizing buildings' impact on the environment by incorporating eco-friendly features into their design. Some corporations have embraced this concept and implemented reforms aligned with green architecture, resulting in advancements in materials and design concepts that prioritize occupant health.

Projects should prioritize environmental friendliness in terms of location, materials used, processes employed, utilization of renewable energy sources, and incorporation of recycling practices.Green architecture encompasses various factors such as sustainability, materials, energy efficiency, land use, and waste reduction. An adaptable structure should be able to be reused multiple times throughout its lifespan to reduce reliance on resource-intensive products. It is important to integrate energy-efficient mechanical systems with conservation methods and eliminate dependence on fossil fuels. Moreover, green architecture provides solutions for conserving gray water and utilizing it for garden irrigation.

Corporations should prioritize

low environmental impact in their operations and invest in eco-friendly products like attractive green sunglasses that appeal to consumers. The development of environmentally sensitive housing, commercial spaces, and institutional buildings presents a promising approach towards achieving overall sustainability. There is a shared need for affordable, healthy, durable, and comfortable housing and workspaces designed to enhance people's well-being.

Companies like 3M, DuPont, Amoco, and GE have already recognized the market value of environmentally friendly products and manufacturing techniques. To address environmental issues such as climate change, ozone depletion, disruption of the food chain, depletion of ocean water and ecosystems, soil depletion and erosion as well as desertification of arable lands and water pollution; transitioning towards a more sustainable economy and infrastructure is crucial.Currently, many buildings are increasingly incorporating sustainable design. In order to ensure green sustainability in environmental matters, businesses must establish principles and guidelines moving forward. Embracing system design principles allows companies to address the scarcity of natural resources and ecological systems while also recognizing the importance of human capital. Therefore, corporations that want to become more environmentally friendly should adopt the following aspects: 1) Incorporating principles of environmental conservation serves as an excellent starting point for integrating sustainable development into business practices. 2) The Coalition for Environmentally Responsible Economies (CERES) brings together investors, public pension funds, foundations, unions, environmental interest groups, religious organizations,and governments with corporations to pursue corporate environmental responsibility. A framework has been established to promote sustainable development principles including the sustainable use of natural resources, waste reduction and disposal, energy-efficient products and services, and environmental restoration. The government plays a crucial role in influencing green businesses and consumers by leading by example

and promoting the purchase of environmentally friendly products and services.Previously, public sector buyers did not prioritize developing environmental policies due to potential higher costs.The global focus on sustainable development has led to changes in the economic and political landscape. New policies encourage governments to support green initiatives such as the Green Business Scheme. Ecological research primarily concentrates on organizations rather than consumers. The marketing industry has witnessed an increase in green marketing, which entails promoting products or services based on their environmental advantages. This is particularly crucial for organizations operating in industries like oil, chemical, and energy that face significant regulatory pressures. To survive, these companies have had to strategically respond, leading to extensive research on their strategies.

Green consumer behavior is closely linked to environmental issues and other concerns such as corporate social responsibility, fair trade, anti-globalization, and ethical consumerism. Consumers who prefer supporting environmentally responsible companies have various opportunities in these areas. The text specifically focuses on individual consumer behavior by identifying a specific group known as "True Blue" consumers, representing only 20% of the population. Increasing this number poses a challenge that requires examining factors influencing or discouraging the consumption of green products and services.

Additionally, the text highlights a disparity between what consumers claim they will do and what they actually do when it comes to green behavior.In addition, the text delves into the process of making decisions regarding organic and ethical products, showing a desire to align with a specific identity. Appendix III provides more information on public opinions related to this subject. The text discusses green marketing, which involves selling environmentally friendly products or those produced/packaged in an eco-friendly manner. Green

marketing aims to persuade consumers that a product/service is "green" and advantageous, influencing their purchasing choices. However, it is uncertain whether green marketing exclusively targets consumers who are willing to pay more for eco-friendly options compared to less sustainable alternatives. This hypothesis lacks conclusive evidence. Despite its ability to attract environmentally conscious consumers, green marketing carries risks as the public tends to be skeptical of environmental claims. Companies may face damage to their brand and sales if their claims are proven false or contradictory with other practices - known as greenwashing. Nevertheless, when implemented correctly, green marketing can be a powerful strategy for brands. Leading brands recognize that measuring overall impact on the environment should not solely rely on ROI; tangible actions hold increasing importance for today's consumers concerning the environment. Therefore, companies now consider both brand impact and risk factors when making investment decisions.A recent survey conducted in seven countries (the United States, China, the United Kingdom, France, Brazil, Germany, and India) reveals that there are shared beliefs and behaviors regarding the environment across different cultures. However, there are also significant variations among these countries. Consumers in the United States, United Kingdom, Germany, and France generally have similar attitudes towards the environment. On the other hand, consumers in Brazil, India,and China hold different positions and show a greater inclination to seek out organic products and support green companies. For more information on Green Corporate action in the US please refer to appendix V.

Despite believing that organic products are more expensive than comparable non-green products, consumers in these seven countries express their intention to spend more on organic products next year. The strongest support for

increased expenditure in this area comes from China (73% of Chinese consumers), India (78% of Indians),and Brazil (73% of Brazilians). The percentage of respondents willing to spend at least 30% more on green products ranges from 8% in the UK to 38% in Brazil.

In our study, China,Australia,and Brazil stand out as they show high interest in purchasing environmentally-friendly business products and demonstrate willingness to spend more on green items.

From a political perspective, it is believed that the market for green products and brands is underestimated.A recent study has shown that consumers in different countries have varying levels of importance when it comes to companies being environmentally friendly. In India and China, this importance is particularly high, with 87% and 98% respectively stating that corporate reputation significantly influences their purchasing decisions. These consumers believe that the most crucial action a company can take to demonstrate its commitment to the environment is by reducing the use of harmful substances in their products and business processes.

Although there may be a decrease in priority for reducing toxic substances among consumers, data suggests that the public still holds companies accountable for good environmental performance. They expect actions such as recycling, energy efficiency, reduced packaging, and eco-innovation. Therefore, for a company to secure customer loyalty, its environmental strategy needs to be comprehensive.

When it comes to consumer perception regarding how the environment is being handled in their respective countries, those in the UK, France, and Brazil believe it is being mishandled. On the other hand, countries like the United States Germany China and India are seen as making progress towards better environmental practices. Interestingly only India and Brazil prioritize both the environment

and economy more than other countries.Since 2008, economic concerns have taken priority over environmental ones for 77% of consumers in the United States. Despite this, global corporations have been taking sustainable actions. General Electric has invested $12 million in eco-friendly products such as solar panels and LED lighting since 2006. They are also working on developing clean technologies to rehabilitate the polluted Hudson River, demonstrating their commitment to environmental sustainability. McDonald's has implemented green practices to protect natural habitats affected by the increased demand for non-vegetarian food. Budweiser has reduced the size of their beer cans by about an eighth of an inch to minimize their environmental impact, saving approximately 21 million pounds of metal per year. Starbucks Coffee now uses recycled paper for their coffee cup sleeves, resulting in the preservation of roughly 78,000 trees annually. Wal-Mart has pledged to source 100% renewable energy for all its stores. Dell has implemented a recycling initiative that allows customers to safely dispose of any product at no cost. Other businesses such as Toyota, Honda, Continental Airlines, Hewlett-Packard, DuPont, and Home Depot are also adopting similar environmentally friendly practices (refer appendix VI for best green brands by Corporates India), indicating that there is potential for all market niches to become more eco-friendly.India's focus on green initiatives not only benefits the country but also has a direct impact on the world and our environment. With a population of over a billion people, India's shift towards a greener economy could greatly benefit our ecology. Additionally, the country's impressive economic growth rate is projected to continue for many years. According to the Ministry of Finance's economic survey conducted in India,

agricultural scientists and farmers played a crucial role in revolutionizing the agriculture sector during the 1960s. However, there has been limited technological progress in this field since then. To ensure the safety and well-being of all citizens in a populous nation like India, it becomes vital to enhance agricultural production and productivity through another Green Revolution led by Indian agricultural corporations.

In order to address climate change and meet growing energy demand within India, important measures including new regulations have been implemented by the government. The national policy on climate change was introduced in 2008, which is crucial for promoting energy efficiency and facilitating the transition towards a green economy. This initiative offers lucrative market opportunities estimated at over $15 million by 2015. According to the United Nations World Economic and Social Survey in 2009, India is leading Southeast Asia in terms of renewable energy market development.Despite its annual revenues of approximately $500 million, this amount represents only a fraction of the company's potential. Many existing corporations have adopted greener practices in response to these opportunities. Furthermore, India has emerged as South Asia's most developed and diversified energy market thanks to various government initiatives that attract corporate investments in the environmental sector. Currently, the state invests $1 billion in clean energy sources like wind and solar power. However, despite these efforts, renewable energy accounts for less than 1% of all electricity generated in the state, indicating a significant untapped market. Additionally, there is a projected profitable market worth $40 billion by 2012 for green building materials and technology. Moreover, India ranks as the third largest market for low carbon emissions and environmentally friendly products. These factors

encourage corporations to embrace sustainability and take advantage of government regulations supporting such practices. In conclusion, corporations are realizing that environmental practices can coexist with business growth as the global environmental movement gains momentum. This realization may arise from meeting consumer demands or simply as a business strategy. The importance of this development is particularly significant considering certain large companies have previously faced criticism regarding their waste disposal and unfavorable practices.While some corporations have already embraced environmentally friendly practices, it is essential for more major corporations to follow suit. These companies should prioritize accountability by acknowledging that environmental issues such as climate change are real and recognizing that good intentions alone are not enough – they must take responsibility for being both part of the problem and potentially part of the solution. Although making this statement may alienate certain consumers, it can also attract a growing group of consumers who actively seek out environmentally friendly brands.

Additionally, these corporations should assess their own activities and the entire life cycle of their products – from sourcing to usage to disposal – in order to determine their environmental impact. It is crucial for them to monitor these indicators over time. Accountability, which is considered one of the key pillars of successful marketing communications, cannot be underestimated when addressing environmental concerns.

Transparency has become increasingly important in the corporate world. Many large corporations now disclose public information about their environmental and social impact following sustainability guidelines set by the Global Reporting Initiative. Currently, 43 out of 100 brands, including 12 out of 15 specifically mentioned here, provide public information based on these guidelines. To gain credibility and trust from consumers,

companies must work hard to establish themselves as trustworthy entities in terms of their environmental practices.One effective strategy is to prioritize internal operations, ensuring that companies take responsibility for their actions before promoting their products and services through marketing communications. It is crucial for corporate entities to establish a collaborative structure within their organizations, as there is a growing number of environmentally-conscious individuals today. Climate change will undoubtedly necessitate significant changes in the coming decades, impacting not only corporations but also society, health, and the world as a whole.

Various stakeholders such as shareholders, investors, banks, financial entities, and governments are all advocating for environmentally-friendly policies. Corporations have multiple options to address environmental concerns, including implementing educational programs for employees on business investing and overall commitment. It is important for every company to understand its culture and position in the world so they can make appropriate "green" investments at an appropriate level.

To stay ahead of upcoming changes, it is recommended that companies establish a dedicated task force focused on environmental initiatives that stays updated with future trends. This will help corporations explore the restructuring process which has proven strategic benefits across different industries. Simultaneously, the government should ensure that its own processes align with sustainability principles in order to set an example for others.In addition, it is important for corporations to promote tax incentives for sustainable practices and collaborate with retailers and other entities to offer more eco-friendly packaging options. This collaboration will make it easier for consumers to buy environmentally friendly products at fair prices. While companies may face challenges in implementing sustainability practices due to time constraints, they can incorporate product design strategies that

unconsciously support environmentally friendly initiatives for all consumers, rather than just targeting green consumers.

To start their corporate sustainability efforts and exceed their environmental responsibilities, companies must assess their current status and desired goals. They do not have to immediately adopt environmentally friendly processes and renewable energy to begin transforming their business model. Instead, they can initiate small changes to reduce their environmental impact.

It is crucial for organizations to establish a dedicated team known as the "Green Team" consisting of individuals who are passionate about the environment. This team should hold regular meetings and include members who have access to higher management for efficient decision-making. The main goal of this group is to actively listen to team members' ideas, guide initiatives towards feasible programs, receive guidance from management, and provide support.The management team must commit to reviewing and implementing the suggestions and decisions made by the Green Team. It is crucial for all company employees to observe these actions as disregarding any ideas can negatively impact morale. Additionally, it is vital for this team to have authority within the organization in order to make tangible changes.

To promote diversity within the team, members should be selected from various divisions, groups, and positions such as sales, operations, quality control and production, human resources, accounting, and receptionists. These members can either be specifically appointed or enthusiastic volunteers with a passion for environmental activities.

It is recommended that the size of this team remains limited between 10-12 people. Large teams may struggle to effectively take action in a corporate setting while smaller teams have the advantage of delegating tasks and contributing ideas. Investing more in recruitment and retention is crucial

for fostering creativity and utilizing corporate resources.

Encouraging innovative ideas pertaining to waste reduction, energy efficiency, and sustainability is also essential. This section includes various appendices (Appendix I, Appendix II, Appendix III, Appendix IV, Appendix V,and Appendix VI) focusing on different aspects of green practices in corporations. Furthermore,the section contains a chart from 2009 called ImagePower Top Green Brands.Moreover, the text includes a range of references, comprising books like "Corporate responsibility-Blowfield and Murray" and "Environmental management-Bala krishnamoorthy," alongside various websites such as landor.com, businessweek.com, greentimes.com, onlinecarbonfinance.com/india , greencorporate.com marketinggreen.wordpress.com , envindia.com , greenspaces.in/.../first-ever-survey-of-corporate-indias-environment-consciousness , greenbusinesscentre.com ,and chillibreeze.com .