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According to Bo Parfet, Sustainability Is a Good Business Decision

Posted by on January 29, 2021 in Business with 0 Comments

Bo Parfet is a real estate professional, naturalist, and environmentalist. His impact investing firm, Denali Venture Philanthropy, actively seeks out entrepreneurs and startups that are focused on making a positive social and environmental impact. Having participated in numerous mountaineering, research, and exploration expeditions, Parfet holds a deep affinity for promoting positive ways to improve and protect our planet.

A growing number of political leaders are supporting sustainable movements promoting climate action. As businesses continue to evolve, especially in the face of the effects of the COVID-19 pandemic, they must take a hard and comprehensive look at their business models and move toward bringing sustainability practices into the workplace.

Researchers at UCLA conducted a study in 2019 and discovered that businesses that adopted sustainability practices saw a 16 percent increase in productivity among their employees. Additionally, employees who were surveyed as part of a U.S. Green Building Council survey reported being happier and healthier working in a LEED-certified building compared to their counterparts who worked in traditional office spaces.

As the typical office space modernizes and adapts to new COVID-19 safety protocols, business leaders now have an opportunity to rethink their traditional workplaces and improve them for the sake of both their employees and of the environment.

Parfet has met, worked with, and helped some of the companies making tremendously positive impacts on the global environment. He supports these companies because of their innovative practices in sustainability and their promotion of social good. He has outlined some of the ways that business leaders can make a direct impact on improving the environment through updating and improving their business practices:

1. Reuse, refurbish, and recycle.

The first and easiest step that businesses can take to improve their environmental footprint is to make it easier for their employees to recycle. Provide educational materials on what can be recycled and make it easy by providing the various appropriate bins. Make it safe and reliable, providing updates on how your company’s recycling efforts have made an impact.

Collaborate with like-minded businesses to reuse and refurbish electronics efectively. This is known as circular design and is a great step toward ensuring proper recovery and long-term use of certain electronics.

2. Source locally made goods.

Locally sourced items are a great way to promote positive social and environmental impact. Putting money directly back into the local community helps improve the sustainability of local businesses and the livelihoods of their employees. Bolstering the local economy is a crucial part of maintaining any successful business. Shopping local is a trend that will not go away any time soon, so embrace this trend within your business. Promote your business as a local first company.

Environmentally, it makes sense to shop locally. Using less oil and gas reduces carcinogens and improves air quality. Bring the proximity of your environmental footprint as close to your business as possible.

3. Make your product worth pursuing.

The marketing budget for owning a retail shop or company that relies on a local customer base to maintain profits can be extraordinary. A fantastic way to improve awareness while also improving the environment is to use it to your advantage.

Get a LEED-certified building, partner with local producers, or develop an opportunity for the company and your employees to give back to the community in a meaningful and useful way. Use the power of good as a catalyst for promoting positive social and environmental change.

4. Share your success.

Lastly, never keep your success story to yourself because you are afraid that someone will steal it. Share how your business is improving the community and the environment with all who will listen. Volunteer to speak at events and share the innovative practices that you have implemented and how they have positively affected your profitability and the environment in tandem.

About Bo Parfet

Bo Parfet is a real estate professional, philanthropist, author, mountaineer, and naturalist. He and his wife Meredith are the co-founders of Denali Venture Philanthropy (Denali), an impact investment organization that works to improve social and environmental change. He has also taken on a role with DLP Real Estate Capital as the Managing Director.

Parfet started his career as a research fellow at the Financial Accounting Standards Board (FASB), later joining J.P. Morgan as a financial analyst on Wall Street. In 2007, he founded Iconic Development, a successful real estate development firm, which earned recognition as one of Inc. 500’s Fastest Growing Companies.

Parfet is an adventurer and naturalist. He is one out of about 85 people in the U.S. to have completed the Seven Summits. He shares his experiences in his book, “Die Trying: One Man’s Quest to Conquer the Seven Summits.” He also contributed to the book written by the Explorer’s Club, “They Lived to Tell the Tale: True Stories of Modern Adventure.”

Parfet is a recipient of the Presidential Volunteer Service Award for completing more than 4,000 hours of volunteer service worldwide. He is a member of both the Explorer’s Club and Young Professionals Organization, and he is an advisory board member for the nonprofit Adventure Scientists.

Parfet has an MBA from Northwestern University’s Kellogg School of Management, a Masters in Applied Economics from the University of Michigan, and a Bachelor of Arts in economics from Colorado State University. He resides in beautiful and mountainous Boulder, Colorado.

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