Friday, May 28, 2010

Majority of firms will spend more on climate change

http://www.reuters.com/article/idUSTRE64O0T720100525

This article explains how many large companies are investing more in being green. "Seventy percent of firms with revenue of $1 billion or more say they plan to increase spending on climate change initiatives in the next two years"
Most are also becoming more energy efficient. It also explains that companies are doing this on their own, apart from government.
I think that this switch will be a very good entrepreneurially and environmentally. When businesses invest in new technologies and ideas, many others (consumers) get the benefits. It subsequently gets easier for the consumer to acquire such ideas and technology, as more research has been put into by the industry. So as more businesses invest in greener technologies and greener practices, it becomes easier and cheaper for the average consumer to also make such changes, resulting in more efficient energy uses over time. It is very good that companies have realized that being green is not just for the press, it can be good for business and saving money to maximize profit. I am also surprised of how many companies are doing this, especially in the timeframe. 70% switching in a few years is quite an improvement.

1 comment:

  1. This is an excellent example of how big businesses can use their power and influence to promote "going green" Businesses are some of the most powerful, influential organizations in our modern world. I agree that this will allow consumers to promote and choose greener companies over other companies. I disagree however that companies dont do this for the press. They do it so consumers will buy the products and for the positive publicity.

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