As societal expectations for responsible environmental and social practices by companies continue to increase, it is progressively becoming important for responsible companies to take a greener approach to business.
Now that environmental reputations of companies are playing a more significant role in determining consumer opinion and purchase, green competition is changing the way that companies approach corporate sustainability and environmentalism.
companies have come to the realization that embracing eco-friendly business practices can have a number of significant benefits.
“we have evidence that sustainability pays off. Companies that manage their environmental and social performance have superior financial performance and actually create more value for their shareholders,” said Moses Marji, LE Electronics Marketing General Marketing Manager, East Africa.
He adds that the company has discovered that each step they take to reduce environmental impact also helps strengthen their environmental credentials.
Lack of responsibility on the green front has also become a nightmare for some companies as the public lashes out against this irresponsibility in the form of boycotts, protest rallies and campaigns to spread the word about companies they perceive to affect their lives negatively.
Consumer appeal is also an important consideration. Consumers are beginning to align their purchases with their values. Companies that have been proactive on this front are already reaping significant benefits from their forward-looking practices. One such company that believes in environmental stewardship is LG electronics.
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It has been rooting for the design of products with capabilities to help users reduce energy consumption. By decreasing overall energy use, these products save consumers money in the long run through lower energy bills, and the corresponding decrease in electricity demand leads to a drop in pollution.
LG’s OLED TVs have been recognized for their energy conserving capabilities while its 4K Ultra HD OLED models recently received recognition for reduced emissions. Also, by adding an extra set of doors to its Dual Door-in-Door refrigerators, LG has shown how advanced design can enhance convenience for consumers and make products more environmentally friendly. These advanced refrigerators also use LG’s revolutionary inverter Linear Compressor, allowing them to consume 36 percent less energy and produce 25 percent less noise.
In fact, only this month, the company introduced in the Kenyan market its newest energy saving microwave oven. Dubbed NeoChef, the microwave is a new Smart Inverter Technology oven that has been enhanced for better, faster, more efficient cooking performance while saving time and conserving energy. The Smart Inverter technology allows for flexibility to select the power level at the start of the cooking process and varies the power delivered during the cooking process depending on the cooking option selected.
LG’s Neochef Microwave
The company is also leading the way in designing competitive washing machines. For example, the LG EcoHybrid dryer in its washing machines recycles heat to save up to 53 percent more energy than typical dryers.
These examples go to show how LG is prioritizing environmental protection from a product design standpoint. It remains focused on developing products with healthier and eco-friendly products
