How can poor waste management cost businesses?

 

 

  1. Disposal Cost

With landfill dumping, there are hefty landfill taxes and gate fees to consider. It is also said that landfill taxes, in particular, have risen following the rate of inflation in recent years.

  1. Health Cost

While it is rare that a business is located near a landfill, there are other disease, hygiene and pollution concerns that need to be considered if in-house waste management is poor. Not only will they affect the surrounding community, but especially the employees.

  1. Financial Cost

For certain industries such as the hospitality, poor waste management directly affects the profit and loss of the business. Cruises, hotels, and food outlets deal with food waste on a daily basis, in which loss incurred from non-consumption.

  1. Brand Image Cost

With increasing awareness of global climate issues, many will take into consideration environmental commitment to choose a company they will want to do business with. Therefore, an impression that a business is not concerned about the environment and sustainability can be costly.

 

Overall, there are many reasons for businesses to have efficient waste management for long-term successes. Sustainability is also a great branding tool to promote a brand, and depending on where a business is located, it is also possible to instead lower cost by choosing to go green, with possible state incentives, tax credits or grant opportunities available.

 



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