Green is Good for Business
By : Jim Pinto,
By : Jim Pinto,
The increasing attention to global climate change and rising energy prices brings new opportunities. Products that use less fuel and decrease emissions generate growth and profits. "Green" is becoming a good profit opportunity.
In the past, corporate environmental plans were mostly cost burdens relating to regulatory compliance, with perhaps a touch of the public relations image of being socially responsible. In the past few years, this has changed dramatically - "green" is becoming a business profit opportunity.
Most plants, factories and industrial systems were designed decades ago when the consequences of pollution and waste were not really considered. Now, companies are working to reduce their "environmental footprint," and not just for long-term humanitarian reasons. Irrespective of whether or not man-made pollution is only a contributing factor to natural global warming, "green" is gaining more attention because of the real profit opportunities. Further, many businesses are starting to recognize the competitive dangers of lagging behind.
PayoffsThe increasing attention to the causes of global climate change is happening concurrently with rising energy prices. Oil at $100-a-barrel brings new opportunities. Products that use less fuel and decrease emissions generate growth and profits. General Electric is generating new growth and profits with super-efficient gas turbines that provide more electricity and less carbon dioxide emissions than older models. Boeing’s 787 jets use 20 percent less fuel than comparable models, and orders quadrupled as oil prices soared.
Hybrid cars are perhaps the best-known recent success story. Instead of innovating, U.S. automakers were lobbying against tougher emission standards, and kept introducing gas-guzzling trucks and sport utility vehicles (SUVs). Meanwhile, Toyota and Honda started investing a decade ago to compete with less fuel usage and fewer emissions. Now they are benefiting by environmental regulations as well as the jump in oil prices.
Here are some examples of how "green is good," not just for the environment, but for the resulting direct savings and profits:
The idea of "green" goes beyond the good feeling that we’re saving the environment; it brings enormous opportunities for savings and profits. Take a minute to do a green review of your own office, factory or plant.
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