Corporate World has always been reprimanded by the Socialist World and Liberal Media. It has been portrayed as an organization engaged in making profits by exploiting the consumers, employees, government and the environment. Issues like climate crisis and global warming have been closely associated with Corporate World thus stigmatizing it as Anti-Green. But is Corporate World really Anti-Environment? Is it not really ready to change? I decided to research this topic and here is a list of some of the Fortune 500 companies and their initiatives to make their operations Greener:
1. Wal-Mart: Probably the greatest bête noire of environmentalists and consumer advocates. But surprisingly Wal-Mart has ambitious green plans: Targets include spending $500 million a year to: increase fuel efficiency in Wal-Mart’s truck fleet by 25 percent over three years and doubling it within 10 years; reduce greenhouse gases by 20 percent in seven years; reduce energy use at stores by 30 percent; and cut solid waste from U.S. stores and Sam’s Clubs by 25 percent in three years.
2. DeltaAir: On Earth Day 2007, Delta announced to plant one tree for each of its 47,000 worldwide Delta employees. Delta customers now have the option to contribute toward the offset of carbon emissions through a donation to The Conservation Fund when they purchase a ticket at website of this once bankrupt company.
3. CitiGroup: CitiGroup is purchasing more than 56 million kilowatt-hours of green power, a 55% increase over its purchases in 2007. Citi is buying renewable energy certificates from Constellation NewEnergy. Purchase of certified green wind power will provide 100% of the energy load for the next five years at Citi's newest skyscraper, Two Court Square in Long Island City, New York, the building that has been acclaimed for its high energy efficiency. In addition Citi is achieving environmental certification globally for the construction of all new office buildings and operations centers and evaluation of existing larger facilities.
4. General Motors: In order to obliterate long reputation as makers of gas guzzlers, GM plans to introduce a hybrid full-size pickup. GM says the 2009 GMC Sierra hybrid will provide a 25 percent improvement in fuel economy without compromising performance.
Chevron: Most of the people don’t know that Chevron is also the largest private producer of geothermal energy in the world, accounting for more than half of all privately developed geothermal power. Since 2002, Chevron has invested approximately $2 billion in alternative and renewable energy technologies and energy efficiency services, and between 2007 and 2009, they expect to spend approximately $2.5 billion.
5. FedEx: FedEx Express has used Biodiesel (B5) in the Washington, D.C. area since Fall 2005 with over 1,000,000 miles of revenue service by April 2007. There are now 100 FedEx hybrid electric vehicles operating in locales including United States, Canada, Japan and Europe. FedEx hybrids have accumulated more than 1,000,000 miles in revenue service.
So what’s the truth? Is Corporate World really changing its mindset? Is it ready to face and address the energy and environmental challenges? Is it ready to invest in greener systems?
Unfortunately there is no one answer to these questions. The issue is really multi-dimensional and has numerous aspects:
1. Bottom Line: - Being green may be good for environment as well as for the company bottom line. Today every industry that has energy as primary input resource seems struggling to maintain the business profitable in the fierce global competition. Thus it makes lot sense to cut down the high energy use, and/ or increasing energy efficiency.
2. Sustaining in Market: Green products help company to maintain the market and even capture new market. For example, highly fuel efficient 787 Dreamliner grabbed much attentions and orders, even from some of the European airlines.
3. Government Regulations and Lawsuits: Corporations are trying to be ahead of the curve to avoid future environmental lawsuits and cope with government regulations.
4. Subsidies and Tax Exemptions: Green products have great amount of subsidies and tax exemptions that make these attractive investments.
5. It’s Good to be Green: Being green helps to build and improve the image. It’s certainly a strong marketing point.
So is it good for the common consumer? yes!!. It’s a sign that the mindset is shifting slowly but definitely surely. Even the smallest attempt is going to help the environment, whatever the intension may be! It should be welcome and at the same time be ensured that this momentum is conserved. After all every corporate cloud has the green lining !!
References:
1. “Is Wal-Mart going green? - CEO vows to be ‘good steward for the environment’ in announcing goals”, MSNBC News Services, 03/03/2008, http://www.msnbc.msn.com/id/9815727/
2. “The Conservation Fund”, 03/03/2008,
http://www.delta.com/about_delta/global_good/conservation_fund/
3. “EPA Recognizes Citi among Nation's Leading Green Power Purchasers”, 03/03/2008, http://news.moneycentral.msn.com/ticker/article.aspx?Feed=BW&Date=20080222&ID=8230748&Symbol=C
4. “GM introduces hybrid full-size pickup truck”,
http://www.iht.com/articles/2008/02/03/business/hybrid.php
5. “Geothermal - Creating Renewable Energy for Power Generation”, 03/02/2008,
http://www.chevron.com/deliveringenergy/geothermal/
6. FedEx Express, 03/02/2008, www.fedex.com
1. Wal-Mart: Probably the greatest bête noire of environmentalists and consumer advocates. But surprisingly Wal-Mart has ambitious green plans: Targets include spending $500 million a year to: increase fuel efficiency in Wal-Mart’s truck fleet by 25 percent over three years and doubling it within 10 years; reduce greenhouse gases by 20 percent in seven years; reduce energy use at stores by 30 percent; and cut solid waste from U.S. stores and Sam’s Clubs by 25 percent in three years.
2. DeltaAir: On Earth Day 2007, Delta announced to plant one tree for each of its 47,000 worldwide Delta employees. Delta customers now have the option to contribute toward the offset of carbon emissions through a donation to The Conservation Fund when they purchase a ticket at website of this once bankrupt company.
3. CitiGroup: CitiGroup is purchasing more than 56 million kilowatt-hours of green power, a 55% increase over its purchases in 2007. Citi is buying renewable energy certificates from Constellation NewEnergy. Purchase of certified green wind power will provide 100% of the energy load for the next five years at Citi's newest skyscraper, Two Court Square in Long Island City, New York, the building that has been acclaimed for its high energy efficiency. In addition Citi is achieving environmental certification globally for the construction of all new office buildings and operations centers and evaluation of existing larger facilities.
4. General Motors: In order to obliterate long reputation as makers of gas guzzlers, GM plans to introduce a hybrid full-size pickup. GM says the 2009 GMC Sierra hybrid will provide a 25 percent improvement in fuel economy without compromising performance.
Chevron: Most of the people don’t know that Chevron is also the largest private producer of geothermal energy in the world, accounting for more than half of all privately developed geothermal power. Since 2002, Chevron has invested approximately $2 billion in alternative and renewable energy technologies and energy efficiency services, and between 2007 and 2009, they expect to spend approximately $2.5 billion.
5. FedEx: FedEx Express has used Biodiesel (B5) in the Washington, D.C. area since Fall 2005 with over 1,000,000 miles of revenue service by April 2007. There are now 100 FedEx hybrid electric vehicles operating in locales including United States, Canada, Japan and Europe. FedEx hybrids have accumulated more than 1,000,000 miles in revenue service.
So what’s the truth? Is Corporate World really changing its mindset? Is it ready to face and address the energy and environmental challenges? Is it ready to invest in greener systems?
Unfortunately there is no one answer to these questions. The issue is really multi-dimensional and has numerous aspects:
1. Bottom Line: - Being green may be good for environment as well as for the company bottom line. Today every industry that has energy as primary input resource seems struggling to maintain the business profitable in the fierce global competition. Thus it makes lot sense to cut down the high energy use, and/ or increasing energy efficiency.
2. Sustaining in Market: Green products help company to maintain the market and even capture new market. For example, highly fuel efficient 787 Dreamliner grabbed much attentions and orders, even from some of the European airlines.
3. Government Regulations and Lawsuits: Corporations are trying to be ahead of the curve to avoid future environmental lawsuits and cope with government regulations.
4. Subsidies and Tax Exemptions: Green products have great amount of subsidies and tax exemptions that make these attractive investments.
5. It’s Good to be Green: Being green helps to build and improve the image. It’s certainly a strong marketing point.
So is it good for the common consumer? yes!!. It’s a sign that the mindset is shifting slowly but definitely surely. Even the smallest attempt is going to help the environment, whatever the intension may be! It should be welcome and at the same time be ensured that this momentum is conserved. After all every corporate cloud has the green lining !!
References:
1. “Is Wal-Mart going green? - CEO vows to be ‘good steward for the environment’ in announcing goals”, MSNBC News Services, 03/03/2008, http://www.msnbc.msn.com/id/9815727/
2. “The Conservation Fund”, 03/03/2008,
http://www.delta.com/about_delta/global_good/conservation_fund/
3. “EPA Recognizes Citi among Nation's Leading Green Power Purchasers”, 03/03/2008, http://news.moneycentral.msn.com/ticker/article.aspx?Feed=BW&Date=20080222&ID=8230748&Symbol=C
4. “GM introduces hybrid full-size pickup truck”,
http://www.iht.com/articles/2008/02/03/business/hybrid.php
5. “Geothermal - Creating Renewable Energy for Power Generation”, 03/02/2008,
http://www.chevron.com/deliveringenergy/geothermal/
6. FedEx Express, 03/02/2008, www.fedex.com
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