Even though the U.S. federal government has not implemented any sweeping changes in regard to climate change or sustainable energy requirements for businesses, many companies are taking action by creating their own policies that take green energy into account.
More jumping on the sustainability bandwagon
A new report from Calvert Investments, Ceres and World Wildlife Fund revealed that more firms are developing policies that embrace sustainability and make it an important part of a company's growth plan. Many of the organizations taking part are leaders in their fields, and include giant corporations such as AT&T, General Motors, Sprint, Wal-Mart and Hewlett-Packard. While some are getting on board with investing in sustainable practices to increase their standing with consumers, others have found they can do so and still enjoy significant cost savings.
The report found that 56 percent of Fortune 100 and Global 100 companies have set targets to reduce greenhouse gas output, and 13 percent of those organizations are attempting to reach certain goals in regard to renewable energy use.
While a large number of companies are looking to use sustainable energy, many are hoping to make the strategy a part of their future business plans. The report found more businesses are investing in long-term strategies that will advance their sustainability initiatives, rather than working on short-term green projects.
"The world's largest companies are expanding their use of renewable energy because it makes good business sense - they see the value in diversifying their energy supply, mitigating fuel cost, cutting their energy-related emissions, and, in some cases, providing a physical asset with real value for the enterprise," said Bennett Freeman, senior vice president for sustainability research and policy at Calvert. "We strongly encourage all companies to set renewable energy targets and disclose these commitments, which we believe will help companies - and those who invest in them - address clear risks and seize concrete opportunities."
Sustainability a worthy investment
While large organizations are investing in renewable energy technologies, smaller companies can also benefit from such sustainability tactics. Entrepreneurs considering an investment in green energy may need to obtain business financing in order to begin implementing policies that will allow their enterprises to emit fewer greenhouse gases, save on natural gas expenses and generate positive buzz with consumers.
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