One of the most obvious reasons to work with CSR is to reduce expenses. A company will often begin their energy optimisation by examining its buildings and operation. First, energy consumption is cut (e.g., through proper isolation, energy-efficient windows, LED lighting, replacing and improving ventilation, fixing leaking compressed air hoses). Then, energy consumption is restructured to support renewable energy to the extent the economy allows for it (e.g., solar cells, heat pumps, solar collectors, wind turbines, as well as choosing a new energy company with green solutions).
Waste management is another area that can often help reduce expenses. Disposing of waste becomes cheaper by sorting or fractionating waste better, and in some cases, waste is actually sellable and can make a small profit. It is also often possible to decrease the amount of waste by changing purchasing patterns, consumer behaviour and production methods. This is especially relevant in a circular economy, in which the goal is to eliminate all waste by recycling all resources for another production chain.
Whereas the above-mentioned examples reduce expenses while also reducing emissions to the environment and climate, it is also possible to reduce your expenses by taking on social responsibility. For example, a high level of sick leave or a high turnover rate of employees can most often be due to poor working conditions – physically or mentally. By taking better care of your employees by improving these conditions, you can reduce spending on sickness benefits, worker recruitment and replacement and lost working hours.
Want to learn more about how you can use CSR cost savings to make more money for your business? Click here