Does adhering to green practices add costs for businesses?
sustainability fast and businesses are adopting green practices to reduce their operations’ negative impact on the environment. Sustainable practices generally refer to green operations, which are all about integration of environmentally friendly practices into business operations. While sustainability is here to stay and grow, implementing green technologies such as eco-friendly infrastructure may require a high upfront capital investment.
Are green practices only for businesses with deep pockets? TVS Motor Company is of the view that while some green initiatives may require initial investments, these investments should not be seen as expenses, but as building blocks for a future-proof business.
“Shifting to renewable energy like solar power offers greater price stability compared to the unpredictable fluctuations of fossil fuels. Our investments in green initiatives, such as bio-reserves and CSR projects, contribute to a healthier environment and stronger communities. Collaboration with our supply chain partners on sustainable practices fosters a more resilient and efficient ecosystem,” it says, explaining how the focus on sustainability translates into long-term gains.
The commitment to green practices benefits the environment and society and also strengthens the company’s competitive edge, it says.
The gains from such investments may come sooner than expected.
Shailesh Dhuri, CEO, Decimal Point Analytics, says in his experience, energy efficiency projects designed effectively have a payback period of months
