“Green” practices can save companies money

By Tom Stundza -- Purchasing, 5/21/2008 10:34:00 AM

A growing number of companies are saving hundreds of millions of dollars by embracing environmentally safe practices, according to a report by the non-profit Environmental Defense Fund. The report was released this week at a San Francisco news conference featuring green-friendly CEOs and California Gov. Arnold Schwarzenegger.

Cited at the press briefing were SunPower, Sierra Nevada Brewing, Patagonia, Ikea, Nike, Hewlett-Packard, UPS and Yahoo for using green practices in their work sites, in product development and packaging, in energy-saving data centers and other technology,
David Yarnold, the fund's executive director, says green business practices “can create competitive advantage” and “strengthen the bottom line.”

In a USA Today report on model programs, technology giant Sun Microsystems aims to reduce its greenhouse gas emissions by 20% by 2012 through a range of practices, from using cooler, energy-saving technology in its computer chips to allowing thousands of its 18,000 employees to work at home. Fireman's Fund Insurance offers its commercial customers insurance policies promising their property, if destroyed by fire or disaster, will be rebuilt using Green.