For years, companies conventionally used manufacturing processes which have been declared environmentally unsafe and untenable, according to the modern-day call for environmental conservation. With a growing number of options available when it comes to implementing green manufacturing solutions, companies have a wide range of benefits for implementing those solutions. Here are some of the likely benefits for companies considering going green in their manufacturing processes.
1) Saves Money
When carefully planned and implemented, green energy initiatives can greatly enhance the ability of a company to save money on energy. For instance, energy options like wind and solar energy, as well as green manufacturing strategies like going paperless and recycling, greatly reduce a company's internal operating expenses. Energy is one of the top costs of most companies. Adopting green manufacturing energy solutions, such as renewable sources of power, indicates that the companies participating would save significantly.
2) Government Tax and Incentives
The government has recently developed a sequence of tax incentives and credit initiatives aimed at helping companies shift to green manufacturing. Hence, manufacturers find it easy to offset the costs that come along with implementing green policies. The good thing about this is that these credits are offered at both a state and federal level, therefore, offering companies with a wide variety of options to implement green manufacturing policies. Lastly, green manufacturers also can get certain rebates and incentives from utility companies for undertaking green manufacturing policies.
3) Positive Impacts on the Environment
Green manufacturing impacts the environment positively. It allows manufacturers to reduce their carbon footprints. This initiative does not only reduce the number of toxins released into the atmosphere but also enables the society to benefit from cleaner air, fewer landfills and more renewable resources. Companies that opt to go green are key contributors towards environmental conservation which makes the society a better place.
4) Attracts New Customers and Increase Sales
Going green not only impacts the environment positively but is also a great way of making a company more marketable. For instance, socially responsible practices, such as creating habitats for the wildlife, building green landscapes and reducing the disposal of hazardous waste, help build a positive image for a company. Consumers are increasingly growing conscious of the environment and would rather support companies participating in a socially responsible practice than not.
Also, any manufacturer seeking to get tenders and contracts from the government must go green since green manufacturing standards are usually a factor of consideration. With the improved technology and access to social media, many buyers publicly criticize or promote companies regarding their disregard or adherence to green practices.
5) Helps in Marketing and Positioning of the Company
There is a very high competition amid manufacturers, as all apply and hope to win government contracts. A single government contract can help to boost the position of the company greatly, but most of the government contracts are strictly allocated to the companies which observe green manufacturing standards. Integrating sustainability is one way to help a company gain an edge over the competitors who do not observe green manufacturing standards. Also, acquiring certification on environmental regulation compliance can easily earn a company positive media coverage, which translates to popularity and corporate fame. Adopting green manufacturing standards will be highly beneficial for a company.