With a Sustainable MBA, you’ll have the skills to boost bottom lines while reducing carbon footprints and helping the environment. That and more is possible when businesses get serious about going green.
Companies in all industries are realizing significant savings by reducing energy consumption, finding more efficient methods of acquiring and shipping goods, and implementing other sustainable practices.
In fact, businesses that go green are seeing high returns on their sustainable investments. Research shows that eco-conscious businesses have grown at a rate of 15 percent during a time when much of the competition is stagnant. And corporations that are actively managing and planning for climate change are earning an 18 percent higher return on investment than companies that aren’t, according to a report by the Carbon Disclosure Project (PDF).
When businesses include their impacts on people and the planet in their financial reporting, it’s called triple bottom line accounting. The concept first appeared in the mid-90s as environmentalists realized that businesses needed additional methods to measure the effect of their activities on the environment and the communities where they operate.
The idea is that it’s possible to operate a business organization that not only earns money for its investors but also improves the environment and people’s lives.
Consumers have shown their support for businesses that honor triple bottom line principles by spending more on brands that are transparent about their business practices. An overwhelming majority—81 percent—of consumers think companies should help improve the environment, according to a 2018 report by Nielsen. In today’s marketplace, consumers expect companies to care about the environment.
By going green, businesses benefit in a number of ways, including:
- Expanding access to new and emerging markets. By focusing on a sustainable revival of an old industry, entrepreneurs can find ways to enter sectors that may have been otherwise closed. Energy is a great example where start-ups developing wind, solar, geothermal, and other renewable energy sources are connecting with customers in an industry that has long been dominated by fossil-fuel energy producers.
- Staying in compliance with environmental regulations. Plus, the fact that sustainable businesses need to track and report on their practices makes it easier to continuously monitor whether regulations are being met. Companies are saving by avoiding fines and environmental remediation bills.
- Attracting more investors and more qualified employees. Businesses that are vocal about their sustainability efforts are attracting the attention of environmentally conscious employees. Businesses that can offer a sense of mission retain employees longer, and those employees report greater overall job satisfaction.
- Green businesses can take advantage of sustainable public procurement. Governments at all levels are establishing environmentally friendly criteria for businesses that want to supply goods and services. For example, California will only purchase paper products from companies that have Forest Stewardship Council certification. Businesses that show environmental leadership by obtaining environmental certifications are able to access major markets in the public sector.
The case for environmentally friendly businesses is strong, and business owners are looking for qualified professionals who can lead green efforts. Students who are trained in sustainable business management will be at a major advantage when they take on leadership roles in start-ups and established companies that wish to make a positive impact on the environment.
Unity College’s Online Sustainable Master of Business Administration is designed to deliver graduate education that pairs business fundamentals with cutting-edge concepts in sustainability. It’s the kind of training that employers are looking for.
Whether you’re interested in a leadership role with a nonprofit, working for a government agency, serving as a consultant, or creating a start-up as an entrepreneur, Unity College’s Sustainable MBA gives you the knowledge and skills to be a key player in environmentally friendly businesses and organizations.
Our completely online MBA program is led by world-class faculty who help students complete their degrees in as little as 14 months by taking a full course . You’ll get plenty of opportunities for hands-on learning, too, through online projects and Unity’s capstone course that puts students’ skills to work developing and implementing a green business initiative. Get started today