Go Green: Profits in Saving the Planet
“There is a huge movement afoot for green activism,” said Marsha Firestone, president of the Women’s President Organization and moderator of the New York Times Small Business Summit panel, Save the Planet, Grow Your Profits. This is not entirely about altruism, Firestone stressed, because today the time is ripe for businesses that zero in on green consumers, many of whom are prepared to pay a premium in order to advance an environmentally sensitive agenda. One result: from automobile manufacturers (who doesn’t have a hybrid in development?) to hotels (which are getting serious about reducing unnecessary laundering), businesses large and small are wearing the green label.
Expect green to keep resonating with profitability, said panelist and longtime solar energy advocate Scott Sklar. Going green, he said, is a big step forward in any branding campaign, because “consumers like to shop at companies that are trying to make the planet better.” His best guess is that perhaps 20 percent of the consuming public is serious about green — but that number magnifies because often these are high income people who are also public influencers. Small businesses, Sklar said, are every bit as well positioned as big businesses to ride this wave.
Proof of the mainstream popularity of green products is that suddenly they are everywhere. Sam’s Club, Wal-Mart’s warehouse membership store, proudly displays its organic wines, for instance, while home-improvement leader Lowe’s carries organic soil, solar lights and many more products aimed at making the planet a better place. There are indeed market opportunities for little companies that target this expanding niche.
At the same time, Sklar said that small businesses need to look at their own ability to commit to green power, solar in particular, in part because there are many government incentives in most states to sweeten this deal for businesses. “Going solar can actually save money,” he said.
New York architect and interior designer Paul Gleicher offered more information in that spirit. He underlined that there are many low-cost ways for businesses to live green. Topping Gleicher’s list is finding ways to introduce more outside air into work areas — “indoor air quality is becoming a key issue,” he said — and to creatively use daylighting, which means substituting natural light (via windows and skylights) for artificial light wherever possible.
Panelists agreed that getting conscious about what businesses are doing may just make the planet a better place and boost profits.
