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For Immediate Release
CONNECTICUT COMPANIES EMBRACING CORPORATE SUSTAINABILITY
Connecticut businesses are increasingly eyeing a “triple bottom line” of fiscal health, environmental stewardship and corporate social responsibility as a broader and truer measure of their success. They are using these efforts to enhance their company's image and reduce costs, increase productivity, and attract new customers and employees. And many Connecticut companies have energy cost-savings measures, energy-efficiency policies or recycling programs already in place. Those are some of the findings of CBIA's 2007 Corporate Sustainability/Green Business Practices Survey, released today. The survey defined sustainability as the opportunity for businesses to provide long-lasting solutions that will enhance the socio-economic landscape while continuing to create jobs and economic wealth well into the future. Green business practices were defined as those that addressed environmental stewardship and social responsibility. The survey provides a better understanding of the ways in which Connecticut businesses are environmentally involved and socially responsible, not only within their industries, but within their communities as well. "Green business practices are an emerging strategic imperative that's helping Connecticut companies improve their operations and increase their competitiveness in the global marketplace,” said John R. Rathgeber, CBIA president and CEO. “These companies understand the dynamics of the growing green economy. They want to do more to make the most effective use of our valuable resources and continue to have a meaningful, positive presence in their communities.” Two-thirds of Connecticut business leaders responding to the survey believe that sustainability planning can enhance their companies' long-term fiscal strength. If they adopt green business practices, half of the respondents believe their companies can attract larger vendors and other partners, and 45 percent think they can attract younger workers who might be more environmentally conscious. Nearly half (47 percent) of those surveyed said their company is changing its policies regarding environmental practices and business sustainability. Forty-nine percent of respondents said their firms are already considering potentially cost-saving environmental factors when choosing sites for business expansion or relocation. The most important factors include traffic congestion (40 percent), regional energy costs (34 percent), access to public transportation (30 percent), and proximity to a major city (21 percent). Many Connecticut companies have energy cost-savings measures or energy-efficiency policies already in place, and the vast majority (82 percent) of respondents said their companies participate in recycling programs. Connecticut businesses also implement sustainability and green policies by being a good neighbor in their local communities and supporting local charitable organizations. Eighty-four percent of respondents said it is important to be a good corporate citizen, and almost all (96 percent) would choose more green business practices for their company if they were proven to be healthier for their employees. But those surveyed said there are barriers that prevent companies from going green, including a lack of knowledge or understanding of green business practices (50 percent), cost (43 percent), and lack of leadership on the issue (20 percent). The survey results indicate that Connecticut companies are dedicated to good corporate citizenship and community involvement and are looking for ways to remain environmentally sound and socially responsible. With the proper tools and guidance, they can stay on the cutting edge of these new policies and practices and remain economically, environmentally and socially sustainable well into the future. The survey was conducted by e-mail with 397 Connecticut businesses participating, for a margin of error of plus or minus 5 percent.
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CBIA is the state's largest business organization, with 10,000 members. Editor's Note: Peter Gioia, CBIA vice president and economist, is available to discuss the survey. Please call Nancy Andrews to arrange an interview. For a copy of the survey, visit cbia.com/newsroom/surveys.
For more information contact Nancy Andrews, CBIA media relations manager, at 860-244-1957 or andrewsn@cbia.com. 350 Church
Street · Hartford, CT 06103-1126 · cbia.com/newsroom
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