The Benefits of Becoming a Net-zero Business | Lloyd Sadd
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The Benefits of Becoming a Net-zero Business

With extreme weather patterns causing devastation across the globe, it’s no wonder that climate change is a prevalent topic of concern. The term “net zero” means adding no more greenhouse gas emissions to the atmosphere than what’s removed, and it’s necessary to help counteract the effects of climate change. Although taking these steps can seem daunting, businesses play an important role in helping the Canadian government achieve its target of net-zero emissions by 2050. According to database company Statista, the oil and gas and transportation sectors accounted for half of the country’s total greenhouse gas emissions in 2021, indicating there’s room for improvement. Fortunately, by implementing measures to reduce your environmental impacts now, your organization can help the net-zero cause. Better still, you could experience significant benefits in the process. Consider the following advantages of becoming a net-zero business:

  • Improved business reputation—As consumers become more climate-conscious, engaging in sustainable behaviours may boost your company’s reputation and attract more business, increasing profitability. In fact, nearly half (49%) of Canadians have purchased goods and services from companies that were supportive of protecting the environment, according to a Statista survey. Therefore, publicizing any net-zero measures in marketing materials may generate consumer interest.
  • Reduced costs—Although implementing operational changes may incur immediate costs, your company will likely experience long-term savings by adopting greener practices, particularly as it pertains to energy expenses. Even minor changes, such as turning off equipment overnight or swapping to renewable energy sources, could make a huge difference.
  • Enhanced competitive edge—According to an Ernst & Young Global Limited survey, almost two-thirds (61%) of Canadian consumers plan to pay more attention to the environmental impacts of what they consume going forward. What’s more, the survey revealed 43% of consumers would be willing to pay more for products from organizations that benefit society. As such, improving your company’s green credentials could position you to attract new customers and stay ahead of others within your sector.
  • Bolstered business resilience—Adopting net-zero practices may increase your business’s resilience against future disruptions. For instance, investments in alternative energy supplies (e.g., solar and wind) could shield your organization from unexpected energy supply and cost concerns in the future.

Contact us today for further net-zero guidance and insurance solutions.

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