The concept of sustainability through the lens of doing business encompasses the paradox of modern progress—advancing without destroying and growing while preserving. While the British environmentalist and writer Jonathon Porritt argues that we will never scare people into living more sustainably, evolving market dynamics and shifting consumer sentiment are doing exactly that for companies.
Today, embracing sustainability is a carrot-and-stick matter for entrepreneurs. On the one hand are the competitive advantages, financial gains, and simply the feeling of doing good, while on the other are the reputational, regulatory, and business risks of ignoring its importance. Whatever the angle we look at it, one thing is clear - sustainability is becoming ever more critical.
Quick-fire facts on the importance of prioritizing sustainability
A competitive advantage in a demanding market - in a study relevant to both B2C and B2B businesses, Bain & Company finds that 64% of consumers are highly concerned about a brand’s sustainability efforts. In the EU, 73% of citizens consider the impact of a product on the environment “very” or “rather” important.
Consumers are ready to pay higher for sustainability - according to PwC, consumers are willing to pay a 9.7% sustainability premium, even as cost-of-living and inflationary concerns grow. Besides, sustainability is a key driving force among Gen Z, which will soon hold significant buying power.
Improved financial and business performance - after interviewing 300 public and private companies across North America, Europe, and Asia Pacific, Morgan Stanley found that 80% consider sustainability a key driver of stronger cash flows, higher profitability, and higher revenue growth. Deutsche Bank’s analysis of 56 academic studies concludes that 89% of them found that companies with high environmental, social, and governance (ESG) ratings outperform the market in the medium and long term. Besides, prioritizing sustainability can help lower operating costs and become more resilient to market changes.
Addressing investor demands - according to McKinsey, up to 85% of investors consider ESG an important factor in their investment decisions. PwC estimates that ESG-focused institutional investment will grow 84% by 2026. As a result, a company with poor ESG performance may have difficulty attracting investors and find the cost of capital higher.
A regulatory imperative - there is a union-level strategy for EU economies to achieve net-zero greenhouse gas (GHG) emissions by 2050. While not all companies are obliged to track and report their carbon footprint, depending on the jurisdiction, the regulatory push to decarbonise business operations is increasing.
An appealing factor for attracting talent - a Harvard Business School survey finds that 85% of employees admit they're more likely to recommend a company with a strong purpose to others.
Point made.
Now, what concerns business leaders is how to increase their sustainability impact without breaking the bank.
Here is an out-of-the-box idea that isn’t usually the first to pop into mind but surely worth considering - coworking spaces as a way to boost a company’s sustainability impact.
How coworking spaces can help a company deliver on its sustainability goals
One often overlooked but impactful way for businesses to enhance their sustainability efforts is through the choice of an office space.
Traditional offices can be resource-intensive - from inefficient energy consumption practices to generating high amounts of waste and more.
Coworking spaces and flex offices, on the other hand, present a viable, sustainable alternative, enabling the entire community to leverage shared resources and fostering a collaborative green culture.
In fact, the Coworking Europe 2024 conference, co-organized by Campus X, had a special panel exploring the role of coworking spaces in supporting companies’ delivery of ESG and sustainability goals. The speakers noted that ESG considerations are the top priority for large clients choosing flex offices. According to Hubert Abt, CEO & Founder of New Work and workcloud24, all things equal, companies will always opt for the greener choice when choosing an office space solution.
So, it is clear that, for businesses looking to stay ahead in the sustainability game, embracing coworking is more than a trend—it’s a smart, forward-thinking move that benefits both the planet and the bottom line. Here is why:
More efficient energy use and a lower carbon footprint
According to estimations, office buildings and other commercial structures contribute 6% to 8% of global GHG emissions.
The main issue with traditional offices is their lack of flexibility and the inefficiencies in space utilization. For example, businesses may lease large office areas and fail to utilize them at all times. In fact, nearly 40% of all corporate office space today is paid for but left vacant. This results in unnecessary heating, cooling, and lighting for unused areas, leading to inefficient energy consumption and higher carbon emissions. Estimations reveal that an unused office desk equates to generating approximately one ton of CO₂ annually. To put that in perspective, it would take 45 trees a year to compensate.
The flexible nature of coworking spaces, on the other hand, enables businesses to only occupy the space they need, reducing excess waste and energy consumption. In fact, research reveals that flex offices release 150% less emissions per occupier than leased office spaces. According to some estimations, flexible workspaces could reduce carbon emissions by 131,000 tonnes annually by 2029.
While these gains often accompany the default choice of a coworking space as your business’ home, at Campus X, we are building upon them (check out our Green Policy Document to get familiar with all the measures we have undertaken so far).
For example, 100% of our sourced electricity comes from renewable energy sources, meaning we are helping our members minimize the carbon footprint from their office space energy use (Scope 2 emissions). Furthermore, to optimize our buildings’ energy demand, we conduct annual energy audits that identify potential energy-saving opportunities. Additional measures we have undertaken so far are:
Adopting energy-efficient LED lighting across all facilities
Transitioning to Energy Star-certified appliances (e.g., hardware infrastructure, refrigerators, and other electrical equipment)
Operating high-efficiency HVAC systems and optimizing their use
Nurturing energy-conscious behavior and advancing power-saving practices through awareness campaigns and educational programs
Besides, the design of Campus X’s facilities, including maximizing sun-facing areas, ceiling-to-floor windows, and plenty of glass, is intended to make the most of natural light. While this may seem an obvious design goal, you’d be surprised at how many offices don’t have access to or make use of sunlight as cities’ landscapes get denser. Aside from positively impacting our circadian rhythm and boosting productivity, daylight in the office space can reduce energy consumption by up to 75%, thus significantly slashing expenses and the carbon footprint.
Energy-saving aside, we also prioritize water conservation practices, including monitoring water usage patterns, installing water-saving equipment, and conducting educational campaigns on the importance of water conservation and responsible water use across our staff and members.
However, a coworking space can’t singlehandedly make a difference in advancing sustainability if it isn’t supported by a city aligned with a green vision. Fortunately, in the case of Campus X and Sofia, the synergy is there. Sofia has convenient public transport for more eco-friendly commute options. Furthermore, last year, Mayor Vassil Terziev announced the ambitious goal of Sofia becoming a net-zero city by 2030. He also laid a vision to turn our capital into a more sustainable and green place that can inspire other Bulgarian cities to follow suit.
Flexible working options to lower commute-related emissions
During the COVID pandemic, commuting emissions dropped by 40%, showing that substantial reductions are possible if companies adopt more flexible working models.
Researchers from Switzerland find that if coworkers only worked in coworking spaces, there would be a 10% reduction in commute-related CO2 emissions. They conclude that coworking spaces, especially in urban areas, have the potential to support Switzerland's commitment to reduce transport sector GHG emissions in line with the Paris Agreement.
A UK study of the carbon emissions of home, hybrid and office working finds that commuting has the biggest footprint. In a work-from-home scenario, the overall carbon footprint is 13.63 kgCO₂e/week. A scenario where an employee works from an office for five days generates 33.43 kgCO₂e/week, with travel and office energy use as the biggest emission sources. A hybrid working scenario where the employee works from home for three days and then goes to the office for the rest proves to be over 37% less carbon-intensive compared to spending five days at the office.
On a company level, estimations reveal that 84% of companies that have adopted the hybrid work model have reduced their energy use (by up to 20%) and carbon footprint.
Coworking spaces and flex offices offer the perfect opportunity to adopt the hybrid working model and not only cut costs and improve employees’ satisfaction but also slash businesses’ commute- and energy-related carbon footprints.
Now that we’ve said commuting, did you know that over 60% of the employees in big corporate offices in Sofia rely solely on cars to go to work? For reference, the global average is 51%.
To break the mould, at Campus X, we have created a welcoming environment to stimulate our members’ teams to use their cars for commuting only as a last resort. For example, our prime location offers many convenient and greener options for getting to work.
Furthermore, our amenities are specifically designed to support bike commuting, with a state-of-the-art dedicated Bike Zone equipped with all the necessary tools to ensure safe and comfortable storage.
We have also partnered with Volt, a premium taxi service employing a fully electric vehicle fleet. Through the integrated one-click taxi order solution at our reception, we can offer our community an eco-friendly and convenient transportation option.
Promoting resource sharing and advancing the circular economy
In the Story of Stuff, Annie Leonard, former executive director of Greenpeace USA, notes: “There is no such thing as ‘away.’ When we throw anything away, it must go somewhere.”
The traditional office environment has long been used to throwing stuff away - paper, plastic, food waste, hardware and out-of-date equipment, and more. The US Environmental Protection Agency estimates that a typical office worker generates around one kilogram of office waste daily. For example, the average office worker uses 10,000 sheets of copy paper each year, most of which would end up in landfills.
According to research by Gensler, a design and architectural service provider, each time a company moves its office, it generates close to 270 tons of waste. For reference, this equals around 27 fully loaded garbage trucks. Besides, a standard office relocation is also estimated to emit over 1,460 metric tons of CO₂. Offsetting this would require over 66,000 trees to absorb CO₂ for a year.
On top of this, some estimations point out that every time an office is liquidated, 80% of its furniture and equipment go to landfills, while just 20% is resold. In the US alone, up to 8.5 million tons of office assets end up in landfills every year - that is about 110 million office desks.
Unlike traditional offices, which require each company to furnish and maintain its own infrastructure, coworking spaces pool resources to provide access to shared office equipment and furniture such as printers, copiers, scanners, desks, chairs, etc. This reduces the need for multiple machine items per company, eliminates the waste from excess office furniture purchases, and lowers business operations’ overall carbon footprint.
At Campus X, we welcome new members to bring their own furniture and office equipment to stimulate circularity.
We also strive to use recycled and eco-friendly materials all across our facilities - from recycled paper for printing purposes and office stationery to supplies for hygiene needs, packaging and restaurant napkins. Besides, we emphasize waste reduction at its source by encouraging digital-first workflows and promoting practices like double-sided printing to reduce paper waste.
We also have IT experts who maximize the lifespan of our state-of-the-art hardware, including computers, scanners, projectors, and printers, through ongoing maintenance, upcycling, and other initiatives. They often consult our members on what to do with obsolete equipment, including advising on best recycling practices when it no longer works.
We have also equipped our facilities with MEAVO Office Phone Booths - eco-friendly and sustainable office solutions made from over 800 recycled plastic bottles each.
Furthermore, since we believe that being sustainable also means reducing food waste, our facilities offer fully equipped kitchen spaces for members to store, reheat, or prep their meals from home.
Additional measures that we have undertaken to reduce waste include:
Installed recycling bins for paper, plastic, glass, and metal throughout the Campus in easily accessible locations
Set up dedicated areas for the separate collection of accumulators and batteries, along with a contract for their transportation and recycling
Conducting awareness campaigns to educate staff and members about the importance of waste management, proper sorting techniques for ensuring effective recycling, and advancing circular material use
Installed water dispensers, replaced paper cups with glass and ceramic ones, and encouraged reusable water bottles and coffee cups
Established programs to encourage donating and reusing items such as plastic bottle caps, books, clothes, electronics and batteries
Nurturing a healthy and green environment
Researchers are clear: Poor indoor environmental quality significantly contributes to productivity losses. In contrast, improved air quality, appealing indoor environments, and natural light can help people get more work done.
At Campus X, we aim to incorporate natural elements into office spaces and prioritize access to nature. As a result, we have made it our goal to create and maintain green spaces to improve air quality and provide recreational areas (e.g., green outdoor areas and spacious terraces with a front-row view of the Vitosha mountain). Indoors, we are prioritizing plants known for their air-purifying qualities, as well as native and drought-tolerant ones that require minimal watering.
That way, we can help our members positively impact their teams' mood, satisfaction, and productivity and benefit from a healthy and inspiring work environment - all significant factors in employee recruitment and retention.
Fostering a greener culture and access to sustainability know-how
Coworking spaces are more than just physical offices—they act as knowledge hubs where companies can gain best practices from sustainability-themed workshops, incubators, seminars, and expert talks.
Furthermore, they can prove invaluable in offering opportunities for networking with ESG-focused businesses, sustainability professionals, potential partners, and impact-driven investors, as well as staying ahead of evolving ESG trends and regulations. By fostering an environment of collaboration, these spaces enable businesses—whether startups, scale-ups, or established firms—to exchange ideas for transitioning toward more sustainability-oriented processes and aligning with stakeholder expectations and long-term ESG goals.
Last but not least, they can help you encourage employee engagement through various green challenges and community-led eco-initiatives. For example, last year, we hosted the Climate Mural Game, organized by Nevena Peeva-Todorova, a member specializing in helping SMEs build their ESG strategies. The interactive experience aimed to stimulate impactful action across participating members by shedding light on the science of climate change and our role in sustainability.
Our members also got the chance to test E-Drive’s innovative electric bikes to improve their individual footprint and transition to a greener commute.
Ready to get a step closer to achieving your sustainability goals?
Whether you are a startup, a scaleup, or an established company - the economic, business, ecological, and societal arguments for prioritizing sustainability in your operations are growing stronger by the day. Choosing a coworking space can be a decisive strategic step and a low-hanging fruit.
At Campus X, we believe that sustainability is most effective when embraced collectively. As a result, we strive to create a community-driven environment where companies can collaborate on green initiatives, share best practices, and collectively reduce their environmental impact. Join us in doing better business for a better tomorrow.
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