Canadian entrepreneurs working to make businesses more environmentally friendly

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

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

In addition, 20% adopt more intensive practices, such as designing products with minimal environmental impact, obtaining external environmental audits and adopting zero waste practices, while 54% take simpler measures, such as reducing energy consumption and using recycled or waste materials as inputs.

Additionally, these costs are not passed on to consumers, as 41 percent of entrepreneurs said they absorbed the costs of green initiatives and 25 percent took steps to educate customers.

“Most Canadian entrepreneurs are motivated and making progress on the environment,” said Pierre Cléroux, vice-president of research and chief economist at BDC, in a statement.

“Our study shows that taking action for the environment does not harm financial performance. In fact, it can increase profits and speed up economic recovery. We hope that our findings will inspire others to make even more environmentally beneficial and profitable business decisions, ”he continued.

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