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Green Business Trends
July 18, 2008
JC Penny Introduces Simply Green Mark
JC Penny introduces the “Simply Green” mark to help consumers purchase environmentally responsible goods. Danny Seo, long-time green advocate, has managed the project which identifies products that are at least 70% organic, or made from at least 25% renewable or recycled materials. This is the latest effort by JC Penny to “green” its operation. In 2007, they were the first retailer to receive the Energy Star Partner of the Year award for Energy Management by EPA.
Wal-Mart Reputation Plummets
Wal-Mart Watch reports that a study from Harris Interactive found Wal-Mart’s reputation among consumers to have significantly dropped in the last year. Wal-Mart also ranked among the worst corporations on the “sincerity scale.”
Sustainable MBAs
on the Rise
The Aspen Institute has released their Guide to Socially Responsible MBA Programs which identifies 130 business schools that are working to incorporate social and sustainability social issues into their business education curriculum.
Labor Abuses at Prius Plants
A recent report from the National Labor Committee has accused Japanese Toyota Prius plants of abusive working conditions. The allegations highlight a dangerous disconnect in how businesses consider environmental and social concerns. The report claims that workers in Prius plants are “overworked to the point of exhaustion, and sometimes, death.” With the environmental movement gaining incredible momentum, hybrid cars are touted as one of various solutions, and are manufactured with unbelievable speed. According to sources close to the report, “These are reminders that a green economy can only materialize and prove sustainable if both environmental and social considerations are at the forefront of its design.”
More Marketing Wisdom
A newly released book by Joe Pulizzi and Newt Barret, Get Content. Get Customers aims to provide companies the tools to understand how to retain loyal customers. With recent changes in the marketplace, the case studies explored in the book highlight best practices. According to Pulizzi, “The creation of valuable and relevant content is today's competitive advantage. Organizations need to start thinking about content like one of their products-one that they invest in and ultimately becomes central to their overall business strategy."
Home Depot’s New CFL Recycling Program
Home Depot announces the launch of its CFL (compact fluorescent light) bulb recycling program. This free service will be available nationwide, allowing for the safe and responsible disposal of bulbs. Home Depot has also pledged to increase in-store energy efficiency, and will switch their lighting fixture showrooms to all CFL bulbs by this fall. The cost savings of this project are estimated at $16 million a year.
Supreme Court Reduces Exxon Damages Award
Last month, the Supreme Court cut the damage award against Exxon Mobil for the Valdez disaster from an initial $5 billion to $500 million. The Exxon Valdez struck a reef in the Prince William Sound in 1989 resulting in the worst oil spill in American history. Over 1,300 miles of shoreline were damaged, thousands of birds and marine life were killed and over 32,000 Alaska Natives lives were disrupted. The reduced award is the result of a nearly 20 year struggle to hold Exxon accountable for the lives lost and unimaginable damage done.