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As evidence mounts that companies with strong environmental management practices also have higher financial performance, a number of mutual fund companies are creating new “Eco-Efficiency” funds. The new funds – which include Storebrand Scudder Environmental Value, Sustainable Performance Group, SBC Eco Performance Portfolio, and Swedbank’s Environmental Fund – have shown dramatic performance gains over their counterparts. To achieve the most financial benefit, several studies indicate a company must fundamentally rethink its environmental management systems, rather than simply add environmental initiatives onto current systems. Firms which implement systemic measures – such as organizational change initiatives and product redesign – show the most benefit. Not surprisingly, studies show that it is important for companies to report environmental successes to shareholders to fully benefit. Resources: Donald Reed, “Green Shareholder Value, Hype or Hit?” WRI, Sept. 1998. [sorry this link is no longer available] Linda Descano & Bradford S. Gentry, “Communicating Environmental Performance to the Capital Markets,” Corporate Environmental Strategy: The Journal of Environmental Leadership, Spring 1998. (See our Content Partner page, for contact info). Michael Russo & Paul Fouts, “A Resource-Based Perspective on Corporate environmental Performance & Profitability,” Academy of Management Journal, 40(3), 1997. [sorry this link is no longer available] FROM Co-op […]
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Commonwealth Energy Corporation, California’s largest Electric Service Provider, will convert its 38,000 residential and small business customers from system power to the company’s GreenSmart program, using California-based, renewable energy sources. Unlike most green power programs, which require people to pay a premium, the power will be provided at a discount from what they’re currently paying. Calpine Corporation supplies the power. About 60 percent comes from geothermal sources; the rest comes from forest waste biomass production. Commonwealth is one of the cheapest energy providers in the state and the company believes green electricity can be cost-competitive with traditional supplies. Commonwealth Energy: [sorry this link is no longer available]
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Business Energy Checkup is an interactive resource on the Alliance to Save Energy’s website. It can help you identify the benefits and costs of a wide range of energy efficiency options. As it guides you through the five stages of the U.S. EPA’s Energy Star Buildings program, it shows you how to to reducing operating costs and lowering air pollution emissions. There is a similar program for homes. [sorry this link is no longer available] [sorry this link is no longer available]
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Jamaica, one of the Caribbean’s principal tourist destinations has been leading the charge toward environmentally sustainable tourism for some time. In November, ’98, the 84-room Negril Cabins Resort became the first in the world to achieve Green Globe certification, closely followed by Sea Splash Resort, Hotel Mocking Bird Hill, and Sandals Negril Resort & Spa. Green Globe’s standards were introduced to Jamaica through a USAID-funded project, EAST (Environmental Audits for Sustainable Tourism), which is implemented through the Jamaica Hotel & Tourist Association. SGS, one of the world’s largest certifiers, provides independent assessment of environmental improvements. EAST generates awareness and understanding of the benefits of auditing and the use of environmental management systems in business operations. It also teaches Jamaicans the technical skills which are necessary to run a successful EMS programme. According to Negril Cabins Resort owner, Maxi Bell, “Our preparations for certification have helped immensely in terms of the overall management and environmental efficiency of the hotel. The environmental improvements have already paid back in terms of the cost of operating the hotel, and in terms of the well being of the property and grounds.” Located next to Jamaica’s largest and best preserved wetlands with its hundreds of rare […]
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Green Century Funds and Franklin Research & Development have filed resolutions with ARCO and Exxon respectively to halt plans for oil drilling in the Arctic National Wildlife Refuge. The resolutions are part of a campaign including USPIRG, Greenpeace and the International Longshoreman and Warehouse Union (ILWU). One of the big sustainable business news stories this month was the speech ARCO CEO, Mike Bowlin, gave “on the last days of the Age of Oil” (News Briefs). Interesting. The campaign to designate the Arctic National Wildlife Refuge as wilderness (closing it to oil drilling) has been going on for about 15 years.
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Santa Monica, California is the first city in the world to have all its municipal power needs supplied by renewable energy. The City Council voted unanimously to purchase five MW of power from Commonwealth Energy – the equivalent to supply 5,000-6,000 homes. The power will come from geothermal plants located in Sonoma County. Clean energy will cost Santa Monica only about five-percent more. lori@ceert.org Source: Green Power Notes: [sorry this link is no longer available]
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Santa Monica, California is the first city in the world to have all its municipal power needs supplied by renewable energy. The City Council voted unanimously to purchase five MW of power from Commonwealth Energy – the equivalent to supply 5,000-6,000 homes. The power will come from geothermal plants located in Sonoma County. Clean energy will cost Santa Monica only about five-percent more. lori@ceert.org Source: Green Power Notes: [sorry this link is no longer available]
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After pioneering such large-scale, megatourism destinations as Acapulco, Puerto Vallarta, and Cancn, Mexico is promoting the small-is-beautiful approach of ecotourism. Local guides are being trained throughout the country and some of its state tourism offices. Oaxaca and Veracruz, for instance, are at the forefront of marketing Mexico’s natural destinations. The new book, Mexico: Adventures in Nature guides travelers to environmental destinations in which your visit is a vote for conservation and local economic well-being. Until recently, most of Mexico’s protected areas and biosphere reserves were simply off-limits to tourism. Either the government tried to keep areas “tourist-free” because of the lack of park guides, or the areas themselves were too remote from the main tourism corridors to attract visitors. [sorry this link is no longer available]
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In addition to environment benefits, energy efficiency and pollution prevention have other significant business payoffs. A growing list of case examples are online at the American Council for Energy Efficiency website. “Making Business Sense of E2 and P2”, by
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Implementation of the Kyoto Protocol will create one to two million jobs in environmentally-related fields in the European Union over the next 11 years, according to Ritt Bjerregaard, European Commissioner for Environment and Nuclear Safety. At least 3.5 million people in the European Union presently work in such jobs. Energy-efficient technologies, renewable energy sources and taxes on conventional energy sources will all create jobs. “Estimates show the job potential of wind energy can be as high as 320,000 jobs, and that of biomass production to 1,000,000 jobs,” Bjerregaard said. She predicted that it would be mainly small and medium-sized companies that will create these new jobs as they change production processes. Companies that use clean technologies and innovative solutions will gain competitive advantage as they save costs, avoid pollution, use fewer resources such as energy and water. Their expansion will lead to job creation. Bjerregaard says, “Studies in Germany and the U.K. show that cleaner cars and more and better public transport systems not only improve urban air quality but also create employment. Similarly, increased activity in recycling and the provision of green spaces result in new businesses opportunities and thus new jobs.” She predicts organic farming and sustainable forestry […]
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