The bottom line for businesses is that sustainability has to contribute to the bottom line. Caesars Entertainment and their sustainability program called Code Green provides a compelling case study on how to make money going green by reducing costs and increasing work associate retention levels.
Code Green’s Best Practices
The following are four Code Green best practices to every business:
CEO Leadership. Caesars Entertainment’s vision statement is
“We believe our business success is inseparable from our initiatives to use fewer resources and generate less waste.”
CEO Gary Loveman is a key driver in moving this vision into a daily operating practice. The senior office responsible for sustainability directly reports to him. They meet monthly to review performance. There is no substitute in an organization for this type of CEO attention and leadership!
Implementation Leadership. Code Green is under the leadership of VP Gwen Migita. Gwen is my type of leader. She is focused on performance, speaks with high credibility and is an effective communicator. In this exclusive video interview with Gwen conducted at the Sustainable Brands 2012 Conference she explains how going green makes money for Caesars Entertainment:
A Code Green best practice is having a respected senior officer like Gwen with the credibility to speak to both the bottom line plus human and environmental impacts.
Connecting To The Bottom Line. The evidence is now overwhelming that going green makes money. But while 70 percent of companies have adopted sustainability into their strategies it is ranked eighth in importance based upon the survey results of the third annual Sustainability & Innovation Global Executive Study jointly produced by MIT Sloan Management Review and the Boston Consulting Group that surveyed 2,800 managers in 113 countries. That is a failure of line management. Sustainability is no longer a role within a business. It is a central element of business operations that offers near term and sustained bottom line benefits. For operations it will reduce costs. For Human Resources it will increase work associate retention lowering the cost of attrition. For sales and marketing the environmental credibility of a company now is a buying criteria for 50% of customers.
Continuous Improvement. Best practices are how businesses capture and implement learning into their operations, product design and marketing. Code Green is a template for how to develop and deploy best practices. Importantly, the development of green best practices is a continuous process for Caesars Entertainment. The following are Code Green’s areas of focus for discovering and implementing sustainable best practices that make money and a difference: carbon emissions reduction, energy conservation, renewable energy, alternative fuels, water consumption, waste diversion/recycling, LEED building standards and supply chain. These areas of focus apply to every business. They offer a path to sustained cost competitiveness and with the growing awareness among consumers they offer a path to increased sales.
Bill Roth is the Founder of Earth 2017. He coaches business owners and leaders on proven best practices in pricing, marketing and operations that make money and create a positive difference. His book, The Secret Green Sauce, profiles business case studies of pioneering best practices that are proven to win customers and grow product revenues.