Part of what we have been learning in class recently deals with the fact that incorporating sustainable business practices and environmental concerns as part of the core company activities leads to greater profitability. This example has been made on a huge scale by the GE company this year. The GE company just reported a 21% increase in revenues throughout it's environmentally concerned sectors, which is nothing to shrug off. I am sure the CEOs of other similar albeit less environmentally concerned companies are scratching their balding heads and wondering what they are doing wrong. How could being green actually prosper the business? It is just ridiculous!!! Or is it?
Too bad many of these execs haven't taken a class in green business and don't realize that you needn't wear Birkenstocks and tye-dye to be concerned about global eco-changes. It doesn't have to be like that, it can be as simple as increasing efficiency which haphazardly can reduce the negative externalities of your Fortune 500 company.
Some of the more ambitious environmentally concerned goals for GE are stated below:
"• Bringing annuals sales of ecomagination products to $25 billion by 2010.
• Investing $1.5 billion annually in ecomagination R&D by 2010.
• Improving energy efficiency by 30 percent by 2012. (GE has already met its 2012 target to cut absolute GHG emissions by 1 percent, the goal it set in 2005.)
• Reducing water consumption by 20 percent by 2012; the company's water use was flat last year."
It is about time that other monstrous conglomerates realize that services and eco-friendly initiatives are not a passing phase and represent vital business opportunities. Until then, companies like GE will reap all the rewards for their innovation and eco-magination.
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