Green is the new Black - but what's actually driving Companies to Embrace Sustainable Technologies and Methodologies in the Manufacturing Industry? Three P:s can be found in also this area - Public, Politics and Profits. Which one is the strongest driver for your company?
Public. Public perception goes back to reputation management. When companies embrace green manufacturing initiatives, it shows in customer response. Word-of-mouth advertising and social media uproar can quickly decimate a company’s profits if they continue operating with traditional, unsustainable processes. Politics. The second part of the equation is about politics. Government oversight, regardless of the current administration’s actions, will continue in some form. Even if laws change, companies must still answer in the court of public opinion about their operations. Additionally, companies face stiff fines and punishment for violations of anti-pollution legislation. But, there is another part that should be considered. Profits. Politics play a role in the profits companies get through green manufacturing initiatives. In other words, politics can lead to tax benefits and incentives for companies that abandon waste-producing practices or work to reduce their carbon footprints.