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All Green Books Sep 9, 2008

Going Green at Wal-Mart?

Book explores how businesses and going green ... and staying profitable

If you're in the business world, you've undoubtedly seen a memo passed around your office regarding some green initiative. You may only know about an effort to recycle paper or save energy, but the truth of the matter is businesses are looking deep within to discover ways they can contribute to solving America's energy dependency problem ... and increase their bottom line at the same time.

As I've experienced this in my own business, I've also grappled with what it means to shop at stores I have judged as not very eco-friendly. One such company was Wal-Mart. I emphasize was because Wal-Mart is actually doing something that truly contributes to the green to go green, even if it is driven by profit. With Wal-Mart, you take what you can get. It even spurred me to temporarily cease my personal boycott of the giant retailer.

Daniel Esty and Andrew Winston explore this topic and many others in their book Green to Gold. It's a must-read for those interested in staying on the cutting edge of business for the future. Here's what they had to say about giant corporations, particularly Wal-Mart, making the shift to green:

"Bentonville, Arkansas: In a speech to shareholders, Wal-Mart CEO Lee Scott lays out his definition of “Twenty First Century Leadership.” At the core of his new manifesto are commitments to improve the company’s environmental performance. Wal-Mart will cut energy use by 30 percent, aim to use 100 percent renewable energy (from sources like wind farms and solar panels), and double the fuel efficiency of its massive shipping fleet. In total, the company will invest $500 million annually in these energy programs. Moreover, in a move with potentially seismic ripples, Wal-Mart will “ask” suppliers to create more environmentally friendly products: some of the fish Wal-Mart sells will have to come from sustainable fisheries, and the clothing suppliers will use materials like organic cotton. “We believe that these initiatives will make us a more competitive and innovative company,” Scott emphasizes. …

"What’s going on? Why are the world’s biggest, toughest, most profit-seeking companies talking about the environment now? Simply put, because they have to. The forces coming to bear on companies are real and growing. Almost without exception, industry groups are facing an unavoidable new array of environmentally driven issues. Like any revolution, this new “Green Wave” presents an unprecedented challenge to business as usual."