Consumer purchasing decisions are driven by an emotional connection. In fact, consumers are 15 times more likely to recommend a company that they have a positive emotional connection with. Businesses need to understand industries are changing, we need to relate to our customers in completely innovative ways. A recent study conducted by Solar City found 82% of consumers are more likely to purchase a product that represents Corporate Social Responsibility than one that does not. This study also found 75% of consumers would be more likely to buy a product or service if the company is making an effort to be sustainable.
Sustainability movements are gaining more attention than ever. As a business, you have a duty to understand and address the needs of your consumers. Some companies have addressed this issue by introducing sustainable building practices and adopting LEED certifications. LEED is the international standard of excellence in green building. As the demand for more sustainable building options increases, green construction has become increasingly profitable and desirable within global construction markets. The green building market has become one of the fastest growing industries in the world.
What is LEED?
Leadership in Energy and Environmental Design (LEED) is the most widely adopted green building rating system in the world. Available for virtually all building projects, LEED provides a standard that can be used as a guideline for creating healthy, highly efficient, and cost-saving green buildings. LEED certification is a globally recognized symbol of sustainability achievement.
In the United States alone, buildings account for 40% of national carbon dioxide (CO2) emissions and are higher than both industrial and transportation emissions. LEED-certified buildings have 34% lower CO2 emissions, consume 25% less energy, 11% less water compared to traditional buildings. They have also diverted more than 80 million tons of waste from landfills.
Green buildings reduce not just daily costs but also annual costs. LEED buildings report almost 20% lower maintenance costs overall than typical commercial buildings. Between 2015 and 2018, LEED-certified buildings in the United States are estimated to have $1.2 billion in energy savings, $150 million in water savings, $715 million in maintenance savings and $54 million in waste savings. The data proves incorporating sustainability practices can do more than just preserve the environment, it can also significantly reduce costs.
Introducing sustainability practices in your business is proven to make a positive impact in several different ways. Consumers are demanding more from the companies, it is important for a business to listen to these demands. Incorporating social responsibility into your business model is essential for success. Sustainability initiatives are a way to address these needs.
*All statistics and descriptions of LEED buildings are directly from LEED-certified reports