Finance Monthly - May 2022

While the UK’s efforts are already bearing fruit, as we top the global charts in marine-protected areas and clean drinking water, there are also many other countries paving theway in the field of sustainability. Specifically, according to World Atlas, Denmark, Luxembourg, and Switzerland are currently the world’s environmental leaders. With reduced traffic and air pollution, as well as careful recycling and waste management, they are playing a substantial role in safeguarding our planet. But it’s not all down to the governments. As businesses, we have a duty of care towards our surroundings too. What can your company do to actively emulate eco-friendly countries? What strategies can you implement to help Britain meet its ambitious targets? Create a green culture As a business owner, you should always aim to lead by example. Sharing your ambitions and desire to favour an environmentally conscious workplace can set the tone for your whole team. InScandinavia,wheresustainability goals are often on top of people’s agendas, companies tend to be very collectivist. This means that managers extend their own green mindset to their business culture and encourage their employees to follow similar eco-friendly practices. These can be simple steps such as switching off lights in unoccupied rooms, cutting down on unnecessary printing, and reducing avoidable food waste. Therefore, not only is it important to have staff that can perform their jobs to a satisfying standard, it is vital that a team holds the same green ideals as you. Following the example of Japanese multinational Sony, you may want to consider offering your workers some volunteering opportunities too. From protecting the planet to helping disadvantaged people, you will be promoting valuable activities to benefit the environment and vulnerable groups. Compensate for your emissions Carbon offsetting is one of the most efficient strategies for companies to minimise their carbon footprint. By compensating for your business’ emissions, you can actively balance out the impact you are having on the planet. Sometimes, using energy is simply inescapable. Whether it is heating the office, downloading crucial documents, or charging electronic devices, there will be inevitable situations in which you will be releasing carbon dioxide in the atmosphere. Carbon offsetting, in this sense, can help even things out. In fact, funding green projects elsewhere can reduce the impact of emissions in the workplace. From supporting renewable energy programmes in poorer countries to financing forest preservation, there are numerous ways to make up for your own ‘pollution’. Google parent company Alphabet, for example, has managed to wipe off its lifetime carbon footprint by buying high-quality carbon offsets. Embrace innovation Another tool in favour of Ea r t h Da y 2022 18 Finance Monthly.

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