How Going Green Can Keep More Money In Your Pocket

How Going Green Can Keep More Money In Your Pocket

·4 min read

From carbon capture to clean hydrogen, an increasing number of consumers and businesses are adopting products and practices that help them go green and reduce their impact on the earth.

While making an effort to help the planet is certainly worthwhile, companies can sometimes be reluctant due to concerns over how such initiatives could negatively impact their bottom lines. In reality, however, going green can actually have net-positive on your finances.

Appealing to consumers

A recently released report from Compose[d] and MaCher found that 94 percent of adults in the United States believe that a more sustainable lifestyle is important.

Nearly 90 percent of those surveyed felt that companies have a responsibility to increase the sustainability of their services. Most telling, 47 percent of those surveyed reported being willing to pay more for sustainable products.

Clearly, sustainability efforts can become a powerful differentiating factor that greatly influences customers’ buying preferences. Consumers want to feel like where they choose to shop makes some sort of impact for good.

With appropriate messaging, sustainable efforts can ultimately increase sales and retention. As with any other cause-oriented action, the messaging must be authentic. Your brand must clearly demonstrate what it is doing to go green. Customers want to see actions, not words.

Reducing expenses

There are many expenses that go into running a business and, quite often, sustainability initiatives can help.

“Our use of waterless stimulation technology for oil and gas well development allows us to simultaneously unlock the reservoir, while also reducing carbon emissions,” says Tom Whalen, CEO of RocketFrac Services. “This improves revenue and profit potential from the oil or gas asset and even more so if it’s a stranded asset, as a result of hydraulic fracturing moratoriums.”

Adds Whalen: “Because our technology is energized right at the reservoir, there is minimal loss of energy in the process, plus the overall surface footprint of equipment and associated manpower is a fraction of that for conventional hydraulic fracturing operations.”

With some global jurisdictions imposing taxes on carbon, lower emissions processes reduce tax burdens on energy companies — those savings are then passed on to consumers, of course.

Another example comes from the world of solar energy. When businesses install solar panels to supply their facility’s power, they can greatly offset their grid dependence.

During the day, solar panels often produce an excess amount of energy, ensuring that even when businesses draw power from the grid at night, they ultimately consume roughly the same amount of energy as they produce. Excluding the cost of solar panels, this can almost entirely eliminate energy bills — a vital benefit when utility expenses are rising all across the country.

In the United States, businesses can obtain a 26 percent tax credit to offset the cost of installing a solar panel system and, by 2024, it will only be 10 percent. The sooner companies act, the greater the long-term impact on their bottom line will be.

Attracting talent

As research from Gallup explains, millennials and Gen Z aren’t just the age groups who are most likely to want greater meaning in their work.

They are also “highly worried about global warming, think it will pose a serious threat in their lifetime, believe it’s the result of human activity, and think news reports about it are accurate or underestimate the problem.”

Tellingly, a recent survey of 2,000 office employees conducted by Essity, revealed 51% of those polled became more eco-conscious while working from home and more than a third were disappointed their companies didn’t improve eco-friendly practices during the past two years of the pandemic.

Developing initiatives to help your company go green can greatly influence how job candidates perceive your organization. More importantly, it can shape how they feel once they start working for your business.

Workers who believe that their contribution is making a positive impact on the globe will be much happier and more productive. They will be more likely to stick with your business for the long run.

In fact, a study published in the Journal of Organizational Behavior found that green initiatives could improve employee productivity by as much as 16 percent. By embracing environmentalism, you can attract more qualified candidates and create greater motivation for them to give their best efforts.

Making a difference

When your company adopts appropriate environmentally-friendly practices, you can reduce your own carbon footprint and help limit negative outcomes.

From helping you take control of your expenses to fostering stronger connections with like-minded consumers and employees, businesses that choose to go green will set themselves up for a more prosperous future.

Annelise Freeman, Director

Annelise Freeman, Director

Annelise Freeman has over 25 years of experience in oil and gas exploration, development and operations. Annelise was formerly President and CEO of RocketFrac and previously was part-time faculty at Mount Royal University teaching undergraduate courses in petroleum geology. Earlier, she served as Chief Geologist at a small public exploration company where she worked both in office and in the field. She trained for many years in the Western Canadian Sedimentary Basin before branching out to include areas of expertise in South Australia and the Northern Territory of Australia. Her area of expertise is the development of tight oil and gas properties and complex reservoir geology.

Skip Stone, Director

Skip Stone, Director

Mr. Stone is a Managing Director and Principal of Investment Banking at Register Financial Associates, Inc. Skip has been a successful wealth manager for 25 years. Prior to Register, Skip enjoyed a fifteen-year career at Morgan Stanley, being named to Atlanta Magazine’s list of Best Personal Wealth Managers for seven consecutive years, and serving as the regional Financial Advisor Currency Advocate. Skip holds a Bachelors of Arts Degrees in Economics and English Literature, Cum Laude and received his MBA in Finance from Georgia State University, Magna Cum Laude. Skip was politically active on Denison’s campus, serving as class Co-Governor for three years, Chairman of the Judicial Board, and Class Senator. Along with Disney CEO Michael Eisner and US Senator Richard Lugar, Skip served as Co-Chairman of the Capital Campaign for Denison. Upon graduation, Skip worked on the Hill as the Deputy Chief of Staff for US Senator Wyche Fowler.

Jack Reeves, Director

Jack Reeves, Director

Mr. Reeve is an entrepreneur who brings over 40 years of experience in multiple facets of the global oil and gas industry on five continents, developing a wide-ranging acumen in roles from drilling services in the oilfields of western Canada to large international and multinational enterprise senior management with Baker Hughes. Mr. Reeve has been co-owner of a Canadian oil and gas company for which he and partners designed and successfully deployed their own production equipment. Of late he has designed, constructed and leased drilling-related equipment while consulting at the superintendent level on high profile exploratory drilling projects in SE Asia. Currently Mr. Reeve is successfully expanding his production chemical business throughout the US oil and gas marketplace.

The Honourable Ronald R. Spoehel, Chair

The Honourable Ronald R. Spoehel, Chair

Mr. Spoehel has 40 years of experience in the energy and technology sectors, including serving from 2007 to 2009 as the Presidentially-Appointed and U.S. Senate confirmed Chief Financial Officer of the National Aeronautics and Space Administration (NASA). He has also served as an executive officer in various general management positions and on the Boards of public and private companies in the U.S., Canada, Latin America, and Europe. Presently, Mr. Spoehel serves as Managing Partner of Windrock Capital and on the Boards of publicly-traded Profire Energy and HyperBlock, and he is a member of the Economic Club of Washington, D.C. Among various companies with worldwide operations, he has served in general management and/or on the Board of ICF Kaiser Engineers, Acer Group, Harris Corporation, Optinel Systems, ManTech, and ICx Technologies. Previously he was in investment banking at Bank of America and Shearson Lehman, and in program management at Hughes Aircraft. He is a magna cum laude graduate of the University of Pennsylvania, where he received his BS in Economics and MBA in Finance from The Wharton School and MSE from the Moore School of Electrical Engineering.

Ed Loven, President and Director

Ed Loven, President and Director

Edward Loven brings more than 35 years of international energy industry experience with a focus on creating value propositions within proprietary assets related to exploration and commercial exploitation. In addition to founding and leading companies in both oil field services and development, Mr. Loven has experience structuring, negotiating and closing large exploration asset transactions related to upstream assets. Mr. Loven maintains numerous strategic relationships throughout the oil and gas industry and has worked on a large number of exploration opportunities involving major oil and gas entities, as well as many intermediate and junior partners in the development of early production opportunities.