What do you think would happen if I told a member of our advanced manufacturing sector that they could be 3 times more profitable? That we have a local example of a company making internal changes and making more money? Would they believe me? How could that be possible?
Since I joined Sustainable Waterloo Region a couple of months ago, I have been so impressed with the organization’s commitment to reducing GHG emissions. Our flagship program, the Regional Carbon Initiative works with local businesses in Waterloo Region to set targets to reduce their carbon footprint and then act to meet that target. But it is not all altruistic. In fact, it makes good sense … dollars and cents!
Sustainable practices in business, especially a business, like manufacturing, that uses a lot of electricity, can have a significant effect on the bottom line. At its very core, the essence of sustainable practices is to reduce the use of electricity and natural gas. By implementing changes that use less, the company realizes a benefit to the bottom line, as well as to the environment.
One Regional Carbon Initiative member has already reduced their carbon by over 60%, which has translated into a better looking balance sheet. Veriform has set a target of reducing their carbon by 100% and is well on their way. And they did it through projects and improvements that have all shown great return on investment, Including:
- Started ISO 50001 to increase and push Veriform’s efforts to reduce their carbon footprint faster and with more efficient focus
- Digitizing shipping procedures which reduced fuel and wasted product movements by 78% in the Veriform plant
- Implementing a return air system to cut heat losses in the office
You can read more about Veriform’s sustainability journey here.
At Sustainable Waterloo Region we understand that holistic sustainability balances all decisions against the finances. Fortunately, being financially and environmentally responsible can go hand in hand! Want to learn more? Contact us.