How to Make Your Financial Services Business Eco-Friendly

Xcela Wealth
Xcela Wealth
Eco-friendly is no longer just a buzzword in the business space, it’s taking off as a new responsible and altruistic way of managing a company. In a time when more consumers are becoming aware of their carbon footprint and how it affects the environment surrounding them, businesses are adopting an eco-friendly model and culture to try and get customers’ votes.

Not only does a greener initiative make your brand look like a friend to the public and a more appealing choice, it can also translate to significant cost savings over time. What’s great about turning green is that any company can do it, regardless of size or type. If your business focuses on financial services, here’s seven ways you can get the ball rolling:

Switch to PCW

Post-consumer-waste products including paper and packaging supplies are manufactured from paper sourced from consumers’ recycling bins. While a lot of recycling symbols have been popping up on the boxes of paper and paper supplies you’ll find in Office Depots, Staples, and other stores, the only PCW-labeled paper is actually created 100 percent from this material. Creating post-consumer-waste paper requires 45 percent less energy and leaves half the waste behind than the conventional manufacturing process. As a financial services business, you consume a lot of paper on a daily basis, from filing tax forms to drafting investment proposals.

Switch to CFL Lightbulbs

Compact fluorescent or LED light bulbs often cost slightly more than its incandescent counterpart, they do have a much longer lifespan and consumes less power. Most fixtures can accommodate CFL and LED light bulbs without having to install any sort of add-on. Other prominent financial services firms, like Xcela Wealth, have already made the switch to CFL and LED lights, and as a result, have net them up to $200 worth of savings per bulb.

Switch to Smart Appliances

Not only are these cutting-edge appliances sleeker, but they’re also better for the environment. Look for smart appliances with an Energy Star label, which will indicate their respective power and cost requirements over time. For a financial services company, some appliances that you could replace for their eco-friendly counterparts are your printer, scanner, and photocopier.

Consider Solar

Power your workplace with renewable energy, such as solar. While the overall costs of solar panels and installation and maintenance services seem pricey, the savings on your monthly bill as well as deductibles you can write off can help offset costs. In addition, there are many utility providers out there that let you lease solar panels so that costs are distributed and repaid through a monthly plan.

Buy Green Products

Change should start with your personal routine. Any eco-friendly changes you make to your business will be worthless if you’re still using lifestyle products that are toxic to the environment. You can find a plethora of non-toxic cosmetic products and food brands out there that were created with sustainability in mind. Check the Skin Deep Database from the Environmental Working Group to easily find alternatives to your current items. Most green cosmetic brands cost the same, sometimes even less than what you are currently paying for.

Fine-tune Your Transportation Options

If you have employees, encourage them to carpool or use public transportation instead of driving their own car. In cases wherein private transportation is necessary, encourage them to drive a hybrid vehicle or one that consumes alternative fuel sources. Offer a space where they can store their bikes securely so that it encourages them to bike to and from work.

Support Other Green Programs

Similar to what Xcela Wealth is doing, support and donate to non-profit organizations and green initiative programs that are pushing for a more eco-friendly future. Another way to show camaraderie and support is by using green web hosting providers. If you are operating your financial services company in the 21st century, chances are you are using or will be using a hosting service provider to get your website online. And who better to host your site than a green web host. Most green web hosts will charge the same monthly rate, if not less.

Final Thoughts

Financial services businesses are often perceived by communities as just a profit-oriented company governed by power suits. By switching to an eco-friendly business model, you can show your community and others around the world that you are more than that. Keep in mind that while the tips aforementioned are the most common and simplest ways to get on board with the green movement, there are a lot of other ways you can show people that you support a greener and cleaner future.