Why Becoming a Carbon-Neutral Company Is Great for Business
Usually, when the term Carbon Neutrality is used, the first association that comes to mind isn’t business. A widely held belief is that carbon neutrality comes at the cost of profitability and limits a business’s growth potential.
But does this belief reflect today’s reality?
A brief look at the data shows that carbon-neutral companies have flourished in recent years, enjoying massive consumer support and financial success.
Becoming carbon neutral isn’t only about the environment anymore — it’s also great for business. It gives a company a competitive edge and has many indirect benefits that could improve a business’s bottom line.
This article will help you explore the advantages of becoming a carbon-neutral company and how that might benefit your business.
Customers prefer carbon-neutral companies
A growing number of people are becoming environmentally conscious. They are aware of the environmental impact of their purchases and this leads to changes in their buying behavior and brand preference.
Put simply, customers are becoming more willing to buy products or services from companies that engage in sustainable practices.
And the numbers back that up too.
Evidence shows that people are likely to pay a premium for products that compensate for their carbon emissions.
Apart from that, an increasing number of consumers are starting to prefer carbon-neutral brands.
Many companies have started to compensate for their carbon footprint to appeal to the growing number of environmentally conscious people.
As a result, many of these companies are enjoying better public perception, customer loyalty, and an increased bottom line.
Being carbon-neutral can help talent acquisition
Applicants are starting to take into consideration the sustainability of their potential employers.
Recruiters and hiring managers also report that more people are starting to ask about a company’s sustainable commitments.
Some candidates are even reluctant to accept job offers from companies that don’t engage in sustainable practices. Others would even accept a lower salary if their future employer does their part for the environment.
Becoming carbon-neutral will show your environmental commitment to new talent and help you secure quality employees.
Carbon-neutral companies attract investors
The Environmental, Social and Governance objectives of a company are becoming an increasingly important consideration for investors.
This is why companies with a transparent ESG strategy have seen a massive spike in capital over the past 5 years.
According to a 2020 report on sustainable investing, there are 4 main reasons why investors take into account ESG factors. These are minimizing future risk, improving future returns, meeting financial obligations, and carrying out the organization’s mission and vision.
A sound ESG strategy shows investors that a company has value and potential since it is preparing for the future.
Besides that, a company that isn’t afraid to move first and adopt innovation has an advantage over its competitors.
Decarbonization initiatives like switching to renewable energy sources, lowering power consumption, and carbon compensation have become increasingly popular in the realm of sustainable investing.
And this doesn’t only affect individual investors.
Decarbonization has become an important decision factor for big investment companies like BlackRock. The investment giant’s portfolio managers consider climate risk to also be an investment risk.
Becoming a carbon-neutral company can help attract environmentally-minded investors and it may also help your company get noticed by big investment firms.
The race toward net zero
Becoming carbon neutral is a trend that is only gaining momentum in the business world.
Rather surprisingly, the adoption of carbon neutrality in conventional businesses is outpaced by the rate at which it is picked up by new industries.
Many Web3 projects, tech startups, and decentralized applications have started to engage in climate mitigation activities, while some are even spearheading the movement to net zero.
The idea of transparent and effective carbon compensation appeals to a large part of such companies and that is the reason why Coorest is so popular among them.
How Coorest helps companies become climate-neutral
As a blockchain carbon compensation provider, Coorest is helping a myriad of companies achieve their net zero goals. The most notable examples of these are Coorest’s partnerships with Elvis-on-chain, Vulcan Forged and SWALLOW digital.
Elvis on-chain lets fans experience and connect to the rich culture and legacy of the king of rock with the help of NFTs. Coorest’s collaboration with Elvis-on-chain entails the creation of the Elvis forest. The forest can be used as a gathering place for Elvis enthusiasts and be used to host commemorative concerts and other similar events. This will help Elvis on-chain in their mission to make the legacy of the rock star even more exciting, immersive and engaging. Apart from being a forest dedicated to Elvis Presley and his fans, it also will make Elvis on-chain carbon-neutral. The 10,000 trees planted in the forest will compensate for Elvis on-chain’s carbon footprint.
Vulcan Forged & Elysium
Vulcan Forged is a metaverse game studio that is developing its own blockchain called Elysium. Vulcan and Coorest partnered up to make Elysium the first carbon-negative blockchain in the world. To do so, a dedicated forest of over 50,000 trees will be planted later this year. These trees will not only compensate for the blockchain’s entire carbon footprint but will also provide a surplus of carbon compensation. Vulcan Forged has managed to attract many well-known companies because of Elysium’s unique status as a carbon-negative blockchain. One such example would be DKNY clothing.
SWALLOW digital is a studio that creates NFT collectibles featuring tattoo art. SWALLOW has partnered with over 30 projects and more than one hundred tattoo artists. It is becoming even more popular thanks to the 14 million users that follow it on social media. The digital tattoo studio is about to launch and transition from a startup to a global business. When that happens it is set to become the largest tattoo company in the entire world.
SWALLOW’s widespread popularity and rapid growth make it the pre-eminent industry leader.
The digital tattoo studio also wants to become carbon-neutral and have its own forest through collaboration with Coorest. Presently, the number of trees is not known since the studio still has to determine the size of its carbon footprint. However, it is certain that like the other projects, it will have its trees planted in Sweden sometime this year.
How can we help your company become carbon-neutral?
To many, carbon compensation sounds like an extremely daunting task.
Figuring out the size of your company’s carbon footprint, dealing with a heap of bureaucracy, and hoping for the best.
But it doesn’t have to be this way.
With the power of blockchain, carbon compensation can be easy and happen at a moment’s notice — allowing you to instantly reap the benefits of being a carbon-neutral company.
Ready to make your company carbon neutral?