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Wal-Mart CEO Lee Scott Unveils

As the keynote lecturer at the Prince of Wales’s Business and the Environment Programme, Wal-Mart Stores, Inc. (NYSE: WMT) President and CEO Lee Scott unveiled “Sustainability 360” – a company-wide emphasis on taking sustainability beyond reducing the company’s direct environmental footprint to engaging Wal-Mart’s associates, suppliers, communities and customers. “Sustainability 360 takes in our entire company – our customer base, our supplier base, our associates, the products on our shelves, the communities we serve,” said Scott. “And we believe every business can look at sustainability in this way. In fact, in light of current environmental trends, we believe they will and soon.” As an example of this way of working, Scott announced the company’s intention to introduce “Global Innovation Projects” – one of which is a challenge for Wal-Mart associates and suppliers to start thinking about how to remove non-renewable energy from the products the company sells. “Perhaps the most far-reaching opportunity we have with our suppliers is a simple idea with potentially profound consequences,” said Scott. “Just think about this: What if we worked with our suppliers to take non-renewable energy off our shelves and out of the lives of our customers? We could create metrics and share best […]

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U.S. House of Representatives Committee Clears the Way for Alternative Fuels Legislation

The House Committee on Science and Technology completed consideration of H.R. 547, the Advanced Fuels Infrastructure Research and Development Act. In a full Committee mark-up session, the bill and a commemorative resolution both passed unanimously. “When I took the reins of this Committee I made a promise that this would be a committee of ‘good ideas’ and ‘consensus.’ We are here to solve problems,” said Chairman Bart Gordon (D-TN). “I want H.R. 547 to serve as an example of how we can identify problems big and small, and leverage the resources and expertise of the Committee to develop creative ways to bridge technological gaps through research and development.” This bipartisan bill ­ introduced by Chairman Gordon ­ initiates a research, development and demonstration program to make biofuels more compatible with present-day infrastructure. H.R. 547 also directs these agencies to develop technologies and methods to provide low-cost, portable and accurate measurements of sulfur in fuels, and to develop a physical properties database and Standards Reference Materials for biofuels. “It is clear that fueling our country solely on conventional fuels threatens our economic well-being and environmental health. The public wants and deserves clean and reliable fuel choices,” added Chairman Gordon. “But if […]

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CBS RADIO Launches First 'Green' Focused Radio Station

CBS RADIO today announced the launch of 94.7 The Globe, its first “green” focused radio station. The Washington D.C. station will operate using renewable energy to power its 50,000 watt signal by purchasing of energy resources generated by wind. Station vehicles will be replaced with hybrid models. 94.7 The Globe will further its “green” focus by taking a number of steps on and off-air to consistently promote ways for listeners to live an eco-friendly lifestyle. The station renamed itself 94.7 The Globe reflecting its new pro-environment principles and “World Class Rock” format. A new website has also been created for The Globe featuring station news and environmental resources. “Everyone at the station, from our on-air talent to the many employees who work behind the scenes, has embraced this environmentally responsible concept and we look forward to incorporating green aspects into every facet of our operation,” said Michael Hughes, Senior Vice President, CBS RADIO Washington, and General Manager of WARW. “It’s not often you can perfectly align great music with a message so central to your audience’s beliefs. Rock and ‘green’ is just such a winning combination, and now, more than ever, is the right time to evolve the station to […]

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Bank of America Expands Hybrid Vehicle Program Nationally

Bank of America is expanding its program to reimburse $3,000 to employees that purchase a new hybrid vehicle. The program will now be available to more than 185,000 U.S.-based employees. Last June, the company introduced the program to associates living within 90 miles of the three pilot program cities, Boston, Charlotte, and Los Angeles. “Our associates were very enthusiastic about this program and have responded well to the opportunity,” said Anne Finucane, Bank of America chief marketing officer and head of the company’s environmental council. “In fact, since we launched the program and within the three cities where it was piloted, hybrid vehicle purchases by our associates have more than quadrupled.” The company will continue to evaluate the program, assessing how it could be rolled out to associates outside of the U.S. The program mirrors the Internal Revenue Service’s hybrid vehicle tax credit program and applies toward a new hybrid vehicle as defined by the agency. All full-time and part- time, U.S.-based associates working at least 20 hours per week are eligible.

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SunPower prices $175M Debenture Offering

SunPower Corp. (Nasdaq: SPWR) has priced its public offering of $175 million of 1.25% senior convertible debentures due 2027. SunPower has also granted the underwriters of such offering an option to purchase up to an additional $25 million aggregate principal amount of the debentures. The solar cells and panels maker said it is also offering up to 2.9 million shares of its class A common stock, all of which are being borrowed by an affiliate of Lehman Brothers Inc. Closing of the public offering is expected to occur on February 7. SunPower intends to use the net proceeds for general corporate purposes, including working capital and capital expenditures.

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