For Immediate Release
June 16, 2009

CBIA SURVEY FINDS MORE CONNECTICUT COMPANIES GOING GREEN
Embracing sustainable business practices is helping businesses grow

Faced with increasing costs, a lingering recession and increased global competition, more Connecticut companies are embracing sustainable business practices and reaping the benefits.

According to the Connecticut Business & Industry Association’s 3rd annual Sustainability and Connecticut Business Survey, companies today are adapting to new realities including consumers’ demands for sustainable products and services. They are fulfilling a growing desire to invest with conscience and purpose by conserving natural resources, minimizing pollution and contributing to an ecologically sustainable economy.

“Connecticut companies have made certain that sustainable practices are part of their business model,” said John R. Rathgeber, CBIA president and CEO. “Despite the current economic climate, our members are continuing to implement innovative strategies to improve their competitiveness while ensuring that they are environmentally friendly and socially responsible.”

Green business practices in Connecticut are widespread and growing.  Almost three-quarters of those surveyed have adopted sustainable strategies. The proportion of Connecticut businesses going green has grown steadily and consistently since CBIA began conducting this survey three years ago.  In 2007, 47 percent of companies surveyed were engaged in sustainable business practices.  That grew to 59 percent in 2008 and 73 percent in 2009.

“When corporate and community leaders make business decisions that are socially responsible and environmentally friendly, economic benefits typically follow,” said Richard V. Kretz, managing member, Kostin, Ruffkess & Co., LLC.

Key findings:

• Half of all businesses say the recession has had no effect on their green business practices; 31 percent say it has made green business practices a lower priority, and 20 percent say it has made green business practices a higher priority.

• The majority (63 percent) cite their commitment to social and environmental responsibility as the primary motivator for going green.
  

• The main barrier to going green has changed in recent years. Cost, which has become an ever-greater challenge for business overall, is now the primary obstacle to green business practices (48 percent of respondents), followed by lack of time or human resources (40 percent).

• Almost half (49 percent) have adopted green business practices in the products and services they provide or produce, and 57 percent have gone green in the products and services they purchase or use.

• More than half (53 percent) have reduced their impact on the environment for the purpose of reducing operating costs, 28 percent to enhance their corporate image, 14 percent to grow their market share, and 8 percent to attract a younger workforce.

“Demonstrating concern for the environment is no longer just the nice thing to do—it’s the smart thing to do,” said Richard M. Barry, president, Citizens Bank, Connecticut. “Understanding the challenges and opportunities that exist in the green marketplace gives Connecticut companies a chance to positively impact their operations and bottom line, strengthen their brand and engage their employees in a very meaningful way.”

The survey was conducted by e-mail in April 2009. A total of 381 surveys were returned for a response rate of 13.6 percent and a margin of error of +/- 5.1 percent.

Editor’s Note:  A complete copy of the survey is available at www.cbia.com/newsroom/surveys.

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CBIA is the state’s largest business organization, with 10,000 members.

 

For more information contact Nancy Andrews, CBIA media relations manager, at 860-244-1957 or andrewsn@cbia.com.

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