Wednesday, November 28, 2012

Green up!



Green up!

A global wave of environmentalism is forcing organizations to produce greener products using greener processes. For years, adoption of green strategies was seen as an obligation by companies. But the scenario is changing at a quick pace. Companies have demonstrated to the world how adoption of greener processes would help not just in building a better environment, but also in gaining significant business gains and better profitability. 

GE's Ecomagination, a world acclaimed green program initiative, had delivered US$100 million in cost savings to GE and also reduced the company’s greenhouse gas emissions by 30%. The program also helped GE to come up with a portfolio of 80 new products including energy-efficient MRIs, locomotives, and light bulbs and generating $17 billion in annual revenue. 

Wal-Mart stores in California cut their waste by 81 percent. The company saves as much as $100 million just by decreasing how much it sends to landfills each year. 

Telematics, a set of technologies innovated by UPS to monitor performance of their package cars, helps to reduce the amount of time spent idling by 15 minutes per driver per day. That equates to 25 gallons of fuel per driver per year. Most other companies began adopting solar energy, a result of availability of low cost cells.

Cathay Pacific studies real-time wind data to determine flight routes and speeds. It aims at reducing the delay which leads to fuel saving. It also began using biofuels. The Company works with various organizations to improve the efficiency of global air-traffic management.
 
Nike did a cargo shift. The company had been traditionally receiving shipments from its manufacturing facilities in Asia the air way. In its recent initiative, it started using ocean container ship instead of by air. This saved Nike $8 million in 2009 alone and laid foundation to the company’s goal to reduce the carbon emission from inbound logistics by 30% by 2020. 

However, adoption of green strategies is not easy. Huge investments in innovation, in terms of both capital and human resources are required. In spite of the huge investments, any innovation can only be successful if it can be brought to market swiftly. Above all, in the competitive market, the company needs to build a perception that it is socially responsible. And that cannot be done in a day. Social responsibility as a differentiating point to the customers is something that builds over time.  


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