Eco-Elasticity: recognising the value in 'voluntary' green actions
Economic efficiency is one of the most well-established arguments for firms to adopt more environmentally and ecologically friendly business processes. The more efficient use of materials and resources means lower costs and greater agility – two key drivers for any business improvement. This 'Eco-Efficiency' continues to be a driving force in bringing businesses 'on side' as the environmental (and broader sustainability) debate continues to gain momentum.
However, the 'Eco-Efficiency' argument assumes that it represents the primary upside of a brand's attempts to mitigate for its environmentally damaging actions. In other words, the gains of efficiency – felt in very established ways such as lower costs, faster times to market, lower staff turnover – offset the perceived costs involved in implementing the mitigation strategy in the first place.