Companies are increasingly dedicated to good corporate citizenship, according to the 2008 Sustainability and Connecticut Business Survey by the Connecticut Business & Industry Association.
“Connecticut businesses are well-known for their innovation and resourcefulness,” said John R. Rathgeber, CBIA president and CEO. “The concept of corporate sustainability is a natural extension of that tradition. It is also a very smart way of doing business that continues to reap competitive rewards.”
In the past year, the number of companies adopting green business practices has increased by 12 percentage points, from 47 percent to 59 percent.
Connecticut companies are involved in numerous initiatives, from recycling to re-examining supply chains. The survey found that among Connecticut companies surveyed, 86 percent recycle, 73 percent have policies for properly disposing of waste, 54 percent use recycled paper and 39 percent use eco-friendly cleaning supplies
Cost was cited in the survey as both a reason companies have gone green and a reason why they haven’t. Of respondents 84 percent said their top reason for adopting green practices is to demonstrate environmental and social responsibility. Other key factors include lowering operating costs, and improving market strategy.
Almost two-thirds of companies that have embraced green business practices said their actions benefited their business.
“Companies that find the overlap between their business interests and those of society and the environment, ”˜the sustainability sweet spot,”™ will do better in the long run,” said Andrew Savitz, senior consultant for Sustainable Business Strategies and author. “These companies will outpace their competitors by finding ways to enrich society and their shareholders at the same time.”
The survey found that 72 percent of business respondents believe sustainable practices could lead to long-term savings. That’s 66 percent more than last year.
“Building a sustainable future program provides our customers with environmentally friendly products and helps them achieve their green goals,” said Meredith B. Reuben, CEO of Eastern Bag & Paper of Milford. “We believe in the benefits of green practices and will continue to make improvements that will have a positive impact wherever we can.”
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