Executive Briefings

Businesses Looking to Get on 'Green' Wagon Should Start First with Getting Rid of Waste

When Walmart CEO Lee Scott announced Walmart's green emphasis in a 2006 Fortune magazine article, he stated proudly, "There need not be any conflict between the environment and the economy," and he made a commitment that Walmart's green efforts would be either cost-saving or cost-neutral. More recently, authors L. Hunter Lovins and Boyd Cohen reminded us in their book, Climate Capitalism, "Cutting waste saves money, whether you are a business leader or a head of household."

In short, more organizations than ever now realize that being green can be good for the bottom line. While this is not always the case (different organizations have different needs and capabilities), companies of all sizes are increasingly interested in finding financial benefit in their corporate social responsibility and sustainability efforts.

The first thing supply management should do is look for ways to reduce waste. Reducing waste nearly always benefits the environment, while also reducing cost and increasing efficiency.

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When Walmart CEO Lee Scott announced Walmart's green emphasis in a 2006 Fortune magazine article, he stated proudly, "There need not be any conflict between the environment and the economy," and he made a commitment that Walmart's green efforts would be either cost-saving or cost-neutral. More recently, authors L. Hunter Lovins and Boyd Cohen reminded us in their book, Climate Capitalism, "Cutting waste saves money, whether you are a business leader or a head of household."

In short, more organizations than ever now realize that being green can be good for the bottom line. While this is not always the case (different organizations have different needs and capabilities), companies of all sizes are increasingly interested in finding financial benefit in their corporate social responsibility and sustainability efforts.

The first thing supply management should do is look for ways to reduce waste. Reducing waste nearly always benefits the environment, while also reducing cost and increasing efficiency.

Read Full Article