NEW YORK - Businesses from Wal-Mart Stores Inc to Nike Inc
are finding that green investments in their operations are more than just
Earth-friendly - they're boosting the bottom line, an environmental group said
on Tuesday.
The new wave of environmental investments goes beyond
energy-saving lighting, buying recycled office supplies and double-side
printing, the group, Environmental Defense Fund, said in a new report.
Solar energy systems are getting a boost from a long-used
energy industry tool, called power purchase agreements, that help finance
installation of the clean energy source by selling several years' worth of
electricity under a single contract.
Companies such as Microsoft Corp, Macy's Inc, Target Corp and
Whole Foods Market Inc have signed such agreements with solar developers to set
15- to 20-year fixed costs for their electricity, reducing their reliance on
utility-supplied power and trimming their carbon output while getting
predictable power bills - often below the typical retail price level.
While those contracts have so far relied on subsidies or tax
credits from states to make them attractive, other strategies, from waste
reduction to design efficiencies, are becoming more commonplace.
Nike's newly released Air Jordan XX3 sneaker was designed to
be assembled like a jigsaw puzzle, reducing the need for toxic adhesives, and
uses recycled polyester from bottles and scrap material from the factory floor.
Consumer products maker Johnson & Johnson focused on
implementing energy efficiencies in its facilities and created an "enhanced best
practices" checklist that seeks innovations that provide a return on investment
within five years.
The move has paid off, the company said in the report, by reducing its
greenhouse gas emissions by 34,500 metric tons in 2006 - and creating an
annualized cost savings of $30 million. - Reuters
