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Why Adopt the Green Initiative? 5 Ways to Benefit Local Communities
Lowering emissions: A study published in the Journal of Transport Geography revealed that pedestrians and cyclists visited more shops and spent more time in the shopping areas, indicating a higher level of foot traffic and increased potential for economic activity. These practices allow communities to lower pollution levels and increase engagement with small businesses.
Creating green spaces: Research conducted in the Netherlands showed that living near green spaces positively correlated with better self-perceived health, lower levels of stress, and improved mental health. This helps increase creativity, innovation, and social behaviors – including shopping.
Energy-efficient cost savings: A study by the Small Business Administration (SBA) in the United States found that small businesses can save up to 30% on energy costs by adopting energy-efficient measures such as lighting upgrades and equipment improvements. These savings can be used as income, be reinvested, be spent, or be used to help support other community activities.
Increased market share and customer appeal: A global study by Nielsen revealed that 66% of consumers are willing to pay more for products and services from sustainable brands, and this number rises to 73% among millennials. A clean, green community will attract people who are willing to spend a little bit more than those who visit other communities.
Risk mitigation: The green initiative can help small businesses adapt to evolving regulations and mitigate risks associated with resource scarcity and climate change impacts. But the short term does offer some marketing advantages: a report by CDP (formerly the Carbon Disclosure Project) states that companies that actively address climate change see 18% higher return on investment (ROI) than companies that do not.
Embracing the green initiative can make a positive impact on your community through increased foot traffic, enhanced access to government incentives, improved profit and investment for small businesses, more healthy living spaces to improve the quality of life for residents, and a more sustainable and resilient future for generations to come.
CDP, "Climate Action and Profitability:
Giles-Corti, B., et al. "Walking, cycling and the urban form: A Melbourne case study." Journal of Transport Geography, 2003)
Maas, J., et al. "Green space, urbanity, and health: how strong is the relation?" Journal of Epidemiology and Community Health, 2006)
Nielsen, "The Sustainability Imperative: New Insights on Consumer Expectations")
U.S. Small Business Administration, "Energy Efficiency Initiatives and Cost Savings for Small Businesses")
Cobalt Community Research