What are the benefits of calculating the carbon footprint of your business? Calculating your carbon footprint offers a way to reduce costs and improve sustainability. Climate change threatens the lives and livelihoods of people everywhere so by doing a carbon footprint and taking action, you will also be playing your part in reducing global emissions.
A carbon footprint assessment is a way of measuring the environmental impact of your business activities, particularly in terms of greenhouse gas emissions. Here are some advantages to calculating your carbon footprint:
A carbon footprint analysis highlights inefficiencies within your operations, whether it's energy wastage or excessive raw material consumption. With the global shift towards resource scarcity and rising energy costs, identifying these inefficiencies is paramount. Armed with this knowledge, your business can make informed decisions to mitigate risks and optimise processes.
The business landscape is evolving, and so are the expectations of stakeholders when it comes to the environmental impact of your business. Major companies worldwide are adopting a standardised approach to carbon footprint assessment, often using the Greenhouse Gas Protocol (GHG). The GHG Protocol establishes guidelines for measuring, managing, and reporting greenhouse gas emissions. As the spotlight turns to scope 3 (indirect) emissions, companies in your value chain will start to consider your environmental impact. This is another reason why you need to take steps now – being more environmentally responsible is increasingly becoming a competitive advantage.
Carbon footprinting isn't limited to industry giants; and all organisations should be looking to reduce their carbon footprint. Demonstrating your commitment to reducing carbon emissions could open doors to partnerships with larger corporations and other businesses who are prioritising sustainability and want to work with organisations who share their values.
As well as environmental merits, a carbon footprint analysis can drive financial gains. It's a cost-effective exercise that uses data you already collect, such as energy bills and travel expenses. By identifying areas for improvement which are using a lot of energy, you can make changes that will reduce operational costs while aligning with green-conscious client and consumer demands.
Today’s workforce values sustainability. KPMG research released in January 2023 showed that almost half of UK office workers, especially millennials, consider Environmental, Social, and Governance (ESG) factors when choosing jobs. This is leading to a trend known as 'climate quitting' where employees look for a more environmentally-friendly job and / or employer. Out of around 6,000 people surveyed, 46% prioritise companies with strong ESG commitments, and 20% have turned down jobs due to conflicting values with a company's ESG stance.
Publicising your carbon footprint can enhance your brand's image, especially if you have third-party verification. As consumers grow more discerning about making eco-friendly choices, aligning your business with sustainability can attract positive attention and increase brand loyalty.
Some investors are only interested in funding ethical and environmentally-responsible companies. Calculating your carbon footprint and introducing strategies to reduce your carbon emissions could convince investors to work with you.
In a world that's increasingly concerned about environmental impact, calculating your carbon footprint is a necessity rather than a choice. It will provide you with a clear view of your business's impact, empowering you to make smarter decisions, foster partnerships, and build a resilient and profitable future.
Whatever stage of your net zero journey, we can help you take the next step towards sustainability with our comprehensive business carbon footprint assessment services. We’ll help you assess your environmental impact and make recommendations so you can make informed decisions that align with a greener future. Our services can help you identify opportunities to reduce costs while also assuming accountability for your environmental footprint.
Find out more about our carbon management services.
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