ENVIRONMENTAL CONSERVATION

Fact

If 10% of retailers and their suppliers achieved energy savings of 10%, the estimated opportunity for energy savings in one year would be equivalent to taking half a million cars off the road for one year and provide enough energy for over a million homes.

Article:

Oct. 2, 2007 — Two out of three leading U.S. retailers say they have implemented environmentally friendly practices and, among the top 100 largest companies, the percentage jumps to 83%, according to a new survey of chief financial officers in the retail sector.

Corporate image was the main motivator for going green (54% of CFOs cited “image among consumers” and 13% cited “image among shareholders”). Just 15% of respondents said tax breaks or tax incentives were the greatest motivator.

“Retailers are focused on the importance of implementing environmentally friendly and energy efficient business strategies,” says Catherine Fox-Simpson, a partner at BDO Seidman LLP, which conducted the study. “These businesses reap a two-fold benefit from pursuing green practices — consumer appeal and substantial tax breaks.”

Nearly half (44%) of those surveyed say they have upped their investment in green practices during the past two years. Sixty-two percent of the "top 100" have increased their green investments over the same period.

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