Canadian entrepreneurs working to make businesses more environmentally friendly

 

Many entrepreneurs are taking steps to reduce their business' carbon footprint.

A recent survey from the Business Development Bank of Canada (BDC) found that 82 per cent of entrepreneurs are taking concrete steps to reduce the environmental impact of their activities, and 63 per cent have implemented environmentally friendly practices based on their personal convictions.

Additionally, 20 per cent are adopting more intensive practices, such as designing products with minimal environmental impact, getting external environmental audits, and adopting zero-waste practices, while 54 per cent are taking simpler measures, such as reducing energy consumption and using recycled or waste materials as inputs.

Further, these costs aren't being passed on to consumers, as 41 per cent of entrepreneurs said they are absorbing the costs of green initiatives, and 25 per cent are taking steps to educate clients.

“Most Canadian entrepreneurs are motivated and making environmental strides,” Pierre Cleroux, vice president of Research and chief economist with the BDC, said in a news release.

“Our study shows that acting for the environment doesn’t hurt financial performance. In fact, it can boost profits and speed up economic recovery. We hope our findings inspire others to take even more environmentally beneficial and profitable business decisions," he continued.

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