The workplace is set to change as sustainability becomes a major focus for businesses worldwide.
Nearly half of Brits admit to being more environmentally responsible at home than they are in the office, mainly due to lack fo control over green activities at work and ignorance over their company’s energy and sustainability policies.
Despite this, 69% of businesses say they would support their workforce to reduce the impact on the environment, with sustainability cited as the fourth biggest growth driver among companies looking to expand in the next two years.
Recent global lockdowns and a rise in remote working have encouraged debate around the sustainability of businesses, office space and commercial property, especially as we all start to head back to work in the next few months. This is sparking a change in the way we think about work and the way we interact with our environment every day.
The Case for Going Green
Climate change could see UK summer temperatures reaching 38°C by 2040, leading to a sharp rise in heat-related deaths by 2050. If businesses don’t adapt, extreme weather also poses significant risks to operations, supply chains and revenue.
Research by Instant showed air quality dramatically improved in some of the world’s biggest cities just two weeks into lockdown. Dangerous PM2.5 air pollution dropped by 60% in Delhi, 71% in Los Angeles, 34% in London and 56% in Madrid, due to reduced activity. These stats make a compelling case for businesses to maintain more eco-friendly habits once lockdown is lifted, but there are financial benefits too.
- Companies actively managing their carbon emissions enjoy 18% higher return on investment than those who don’t.
- Companies actively planning for climate change by setting commitments to science-based targets and publicly disclosing climate change impacts on their businesses see 67% higher returns than companies who are not.
- Businesses that take proactive steps to promote employee wellness can improve their financial performance by up to 10% and reduce sick days by 27%.
- Increasing natural spaces can increase property and land values by as much as 25%.
Sustainability Growth Drivers: Why Are Businesses Choosing Change?
For many companies, the pressure to change is coming from all sides. In Europe, 25% of businesses cite government regulations as their least favourable motivator for becoming more environmentally sustainable – 57% are making changes because consumers and competitors are demanding it.
Recent events have also revealed a massive opportunity for businesses to embrace remote and flexible working after employees return to work. The WHO estimates that road traffic is responsible for up to 30% of particulate emissions; which means reducing your team’s need to commute will dramatically reduce the burden on the environment in your city.
Even before the COVID-19 crisis, experts were predicting that half of the UK workforce would be working remotely by 2020. In the US, it’s estimated that around 37% of jobs can now be done remotely. Even working from home or coworking space for one or two days a week can help businesses to reduce their CO2 emissions and achieve a lower carbon footprint.
Leading the Way: The World’s Greenest Cities at Work
Did You Know? Cities with greener designs could save the UK economy an estimated £15.3bn by the year 2050.
The CDP has awarded “A-List” status to the cities around the world leading the shift toward a climate-safe future, based on their emissions reduction targets. These are the cities to watch:
In Europe
City | Ambitious Emissions Reductions Targets |
---|---|
Stockholm | 100% emissions reductions by 2040 |
London | 100% emissions reductions by 2050 |
Paris | 100% emissions reductions by 2050 |
Manchester | 97.3% emissions reductions by 2038 |
Oslo | 95% emissions reductions by 2030 |
In North America
City | Ambitious Emissions Reductions Targets |
---|---|
Fremont | 100% emissions reductions by 2045 |
Boston | 100% emissions reductions by 2050 |
Evanston, IL | 100% emissions reductions by 2050 |
Indianapolis | 100% emissions reductions by 2050 |
North Vancouver | 100% emissions reductions by 2050 |
Key Green Habits to Adopt in 2020 and Beyond
- Increase remote working and reduce the need to commute.
- Focus on offering virtual consultations and online shopping options to consumers, reducing overall traffic and encouraging social distancing.
- Encourage the use of reusable, washable fabric masks in the office, in place of single-use disposable masks.
- Look for ways to reduce plastic waste and replace with more sustainable materials.
- Invest in low-consumption and water-saving energy solutions to help reduce operational costs.
- Bloomberg reports that investors are taking a more substantial interest in businesses focused on sustainable energy, sustainable materials and broader wellness. Shifting toward greener habits can help your business to attract investment while bouncing back from the effects of COVID-19.
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