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Going green dramatically benefits businesses + should be central to their coronavirus recovery strategy

Going green dramatically benefits businesses + should be central to their coronavirus recovery strategy

Going green dramatically benefits businesses + should be central to their coronavirus recovery strategy

Businesses do not have to sacrifice their environmental goals for protecting their growth. Green initiatives like offering green products or services, introducing green processes internally, hiring employees to promote sustainable practices, or going beyond compliance requirements, can actually help firms.

 

Yoyo Dy/Unsplash, FAL

Jagannadha Pawan Tamvada, University of Southampton and Mili Shrivastava, Bournemouth University

The onset of the pandemic and the ensuing lockdown have imperilled businesses worldwide. It will be tempting for firms to put any commitment to the environment in the back seat as they attempt to recover, especially as some governments reduce requirements and undermine environmental protection.

This is short-sighted: businesses do not have to sacrifice their environmental goals for protecting their growth. Greening initiatives like offering green products or services, introducing green processes internally, hiring employees to promote sustainable practices, or going beyond compliance requirements, can actually help firms.

Using data on 9,236 small and medium businesses in 35 countries across Europe and the US, our research suggests that on average, businesses benefit from going green, although the type of greening that gives the most significant benefit may differ between firms.

Here are four main ways that greening can benefit businesses.

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