Profitability and Corporate Social Responsibility

ThinkstockPhotos-470401262

As we continue our march into the 21st century, we hear the term more and more often—sustainability. Beyond its textbook definition, the term has come to be synonymous with another term that’s been coined recently: corporate social responsibility.

At its heart, the term is supposed to ring true of ideas like taking charge of the task of protecting our environment, limiting the carbon footprint we leave behind, and have foresight for future generations. That’s all well and good, but how can you apply these principles to your business without breaking the bank?

Over time, awareness has grown among companies large and small of the challenges brought about after the turn of the century—dwindling natural resources, global poverty, and rising energy costs.

As these ideas come to the forefront of the world stage, they permeate consumer behavior and they have begun insisting that the companies with whom they do business demonstrate responsibility toward assuaging these issues.

As a company, taking the reins of these responsibilities can be challenging. But, focusing on what your company can do to limit energy use is the solution they need. That’s where Utilities Dynamics comes into play.

Capturing Utility Incentives and Rebates

It’s no secret that water and electric utilities across the country are facing unprecedented challenges including aging infrastructure, strict regulatory requirements and competing priorities within the communities they are tied to. Thus, their willingness to incentivize any company that helps them: stay compliant, helps them limit energy use, and curbs the strain on their already-strained infrastructure, has never been higher.

One of the first measures we do for any company when we set out to find projects within your facilities and infrastructure is research what utility companies you use. Utility rebates and incentives vary from company to company. Knowing if we can get your company a check cut for $300,000 from your electric company based on the measurable energy savings from LED lighting retrofits is often the tipping point for many shareholders and decision makers to move forward on a project.

LED lighting projects generate a simple payback of less than five years. With incentives in place, the payback is even less. The falling costs of LED lighting have given rise to its popularity as a solution for companies needing a corporate social responsibility solution.

Balancing Responsibility and Profitability

Embracing corporate social responsibility is a big decision. Several factors should be weighed.

  • Growing more socially responsible at the cost of profitability can be trouble for a business.
  • The goal is to find social issues that support and align with the company’s interest and purpose, and not the other way around.
  • If you’re going to off-set cost by passing it along to your current customers, some may not be willing to pay more for goods produced with sustainable practices.

Knowing these main points are integral to the success of any CSR project your company embarks on. At UDI, we understand these facets and know that ultimately the bottom line is always king.

A complete LED retrofit of all your lighting can result in huge savings year-over-year. For instance, as outlined in our Fifth-Third case study below, their company has saved over $34 million dollars since we completed our projects within their business.

If that wasn’t enough, they can now tout their energy savings as a part of an initiative to become a more green and socially responsible company.

Whether you’re a large multi-site national company trying to whittle down the cost of doing business, or you’re a small mom-and-pop shop just trying to make it through the next couple of years, Utilities Dynamics has a solution that can fit your needs.

Below, you’ll find a case study about Fifth-Third and our work we did for their financial company. What are you waiting for? The jump into corporate social responsibility doesn’t have to be difficult or expensive—take advantage of the energy savings that are all around you today.