Sustainable Property and Business Practices

With climate change and global warming scarcely leaving the headlines, it’s unsurprising that sustainable property and business practices are at the top of everyone’s mind. We have put together our top tips to help you be more sustainable while looking after your bottom line:

Tip One - Go Solar

We are not deemed the ‘sunburnt country’ for nothing. Australia’s sun shines hard and strong with our summer UV intensity reaching 7% higher than that of European summer. This makes the installation of solar panels a much easier cost/benefit equation in Australia. Most panels come with a 20-year warranty and, depending on your location and consumption, you may repay the cost of that in the form of reduced energy bills in as little as 3.5 years! Buying solar for your business premises? Even better, you may be able to claim the instant asset write-off for the full cost of the system. If you are installing solar panels on an investment property you can depreciate the system over 20 years.

Tip Two- Buy or sell Second Hand

Supply chain issues caused by the pandemic have brought about a vibrant second-hand goods market, particularly in relation to office furniture and fit outs. If you are refurbishing, you will do the environment (and your pocket) the world of good by listing your second had goods online to start a new life with another business. You will also be pleased to know that you are still able to depreciate or claim outright most second-hand goods that are used within your business.

Tip Three- Travel less but with purpose

How good is it to hop back on a plane! The COVID slowdown saw a dramatic reduction in air pollution in just a few short weeks due in part to the reduction in air travel. Business is now looking towards a hybrid future, a future where we are free to travel to nurture human connections, but we are not bound to travel as often; it’s a win for the environment and a great productivity boost for business. Consider the value you are getting out of each trip and ask yourself, what can be done virtually and what needs to be done in-person?

Tip Four- Educate your Employees

If operating sustainably is one of your core values, your team should know about it. Training your staff on day-to-day practices to reduce waste and excessive consumption is more likely to have a lasting impact then a stale policy memo buried within employment documents. Research proves that a business can create a strong work-culture by making sure staff are aware and engaged with core values, an added benefit of achieving low staff turnover.

Tip Five- Market your Competitive Advantage

If sustainable business practices are important to your consumers, make sure they know about them! Consumers are increasingly interested in what you are doing to reduce your environmental impact, and they often perceive a higher performance of products produced by sustainable companies. Whilst consumers are often price-driven, we are starting to see a shift towards purchasing based on integrity and sustainability, so make sure to capitalise on this and market to your audience. You should also review your pricing strategy in line with this, you may be surprised at the premium consumers are willing to pay due to your ecofriendly practices.

These are just some of the ways that you and your business can start taking steps towards a greener future without compromising on profit.

We always love to hear from our clients, if you are implementing new environmentally friendly practices, feel free to drop us a line to [email protected] and share your progress with us.