Key to profits and a green rep: Environmental reporting
September 23, 2009 by Tom GuayPosted in: Special Report
Q: What’s the fastest way to give your company a black eye in today’s green-sensitive world?
A: Don’t report any environmental information, and especially don’t report greenhouse gas (GHG) emissions like carbon dioxide (CO2).
That’s how hundreds of companies ended up at the bottom of a new Green Rankings survey published by Newsweek magazine.
The key to getting top honors:
- Create environmental metrics, like measuring pollution created, waste generated and GHG emissions released
- Adopt programs to reverse these events, and
- Report your progress.
That’s the approach adopted by hundreds of companies that scored well in the Green Rankings analysis. The top five companies are:
- Hewlett-Packard for its strong programs to reduce GHG emissions
- Dell for its commitment to rely on renewable energy
- Johnson & Johnson for its commitment to climate change programs
- Intel Corporation for its reliance on renewable energy purchases, and
- IBM for its longstanding commitment to train employees on environmental awareness.
Newsweek spent a year studying the greeniness of the nation’s 500 largest companies and found that companies that set environmental goals — such as reducing their carbon footprint — and publicized the company’s progress in reaching these goals also scored better financially and ranked better than their peers.
The Newsweek story is here.
The magazine created its Green Rankings without the support or feedback of the companies. To do this, Newsweek used a program created by Trucost and NSF International to rate corporate green performances. The methodology is described here.
Many utilities are prominently at the bottom of the list, due to their release of GHGs when they burn coal to create electricity.
One utility, Duke Energy scored 490th in the Newsweek ranking. But this was calculated before Duke switched sides in the global warming debate. It now supports a cap-and-trade law to reduce GHG emissions. The energy company’s statement is here. It will be curious to see how Duke scores in next year’s rankings.
The bottom five are:
- Consol Energy, basic materials
- ConAgra Foods, food and beverage
- Allegheny Energy, utility
- NRG Energy, utility, and
- Peabody Energy.
All of the listings are here.
Tags: cap-and-trade, Dell, Duke Energy, GHG emissions, green companies, Green Rankings, Hewlett-Packard, IBM, Intel, Johnson & Johnson, Newsweek, NSF International, sustainability, Trucost
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September 24th, 2009 at 3:35 pm
The bad thing about reporting info which you’re not required to report is that the enviro-whackos will hold that against you and say you’re not doing enough to help the environment. I remember when I had to report RCRA info, the local enviro-whackos used to get the info on a freedom of info act and continually badger us about reducing the VOC content even though we were in compliance with everyone.
September 25th, 2009 at 3:53 pm
Rick
My “hidden agenda” is that I do not approve of large scale polluters trying to hide behind a “public service announcment” to appear to be green. I invite you to visit Mt. Garbage near Pontiac, Illinois. And no it is not in my back yard, I live 75 miles from it. But something is wrong when one of the largest manmade objects in Illinos is a pile of garbage built by Waste Management. See how many of your recycled milk containers are dumped there.
September 28th, 2009 at 11:02 am
Tim,
I concede the issue with landfills. No question the past policies of managing waste will continue to be an issue even after completely trasnforming to the new green economy. However, to make progress there has to be a starting point for change. We cant ask transgressors to change and continue to crucify them during the transition. Hold them accountable yes… but not deny them an opportunity to be part of the solution.