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Why are businesses investing in green technology?

Entrepreneurs like Elon Molusk are leading green tech revolutions
Business fare better in the long run after adopting green tech

Talk of “green” inevitably evokes the problem of global warming because they go hand-in-hand. The danger of climate change has compelled many inventors to work on solutions that will ameliorate the coming drastic changes in weather.

However, to invest in green technology is also to admit that we have a serious climate problem—something many people are still unwilling to do. So there is a subconscious incentive not to invest in green technology. Not doing so is a way to deny the problem of climate change.

Nevertheless, there is an equal amount of businesspeople that are switching to green technology to power their business because it’s a way to deal with our weather problem as well as because it’s a good thing for the bottom line.

In his article in NuWire Investor, writer Robert Turp defines green technology as “business equipment that’s been specifically produced with the aim of reducing an enterprise’s carbon footprint,” and he goes on to outline three important reasons why businesses are investing in green technology.  

1. Going green is cost-effective

According to Turp, the aim of green technology is to reduce a company’s energy usage. The reduction of energy usage brings on a host of benefits that make sense to business, and also the environment. The most obvious one is a reduction in overheads—which is something that managers are constantly looking to do. Green tech machines installed to power a business waste much less energy. “Indeed, these green products can prove so effective that many businesses claim investing in eco-friendly technology pays for itself in under a year,” writes Turp.

2. Going green is good for the environment

As businesspeople, the most important thing is that our establishments run as efficiently as possible to minimize costs and maximize profits. Green technology has, in many ways, caught up with the speed of business and enough gadgets are out there that can match or improve the efficiency of traditional energy-producing tools. While the benefit for the environment may not be the most prescient issue on our minds the fact is that “Animal and plant species are facing mass extinction on an unprecedented scale, and the impact of climate change is being felt across the world, from droughts in California to flooding across the UK,” writes Turp. Green technology can improve businesses and reduce carbon footprints.

3. Going green is good for your brand

“Consumers are all too aware of the issue of climate change. As a result, they want to see companies taking the problem as seriously as they do, and research has shown that they demonstrate this preference through purchasing,” writes Turp. The fact of the matter is that showing sensitivity to consumers’ feelings about climate change by implementing green tech and practices will produce positive feelings towards your brand.

 

 

 

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