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British PM Says Investment in the Green Economy is a Competitive Necessity

February 07, 2013 Add Comment Edit

On February 4, 2013, British Prime Minister David Cameron made a speech in which he spoke to the competitive necessity of his government's investments in the green economy. Speaking at the official launch of the Department of Energy and Climate Change's (DECC) new Energy Efficiency Mission, Cameron boldly addressed his critics by saying

"So to those who say we just can't afford to prioritize green energy right now, my view is we can't afford not to. Far from being a drag on growth, making our energy sources more sustainable, our energy consumption more efficient and our economy more resilient to energy price shocks – those things are a vital part of the growth and wealth that we need."

Cameron made a compelling case for cleantech investment in front of an audience of business leaders. Cameron explained that in the near future, only the world's greenest nations will be able to compete in the global economic race towards a low carbon economy. Cameron further argued that the UK must prioritize investment in green energy and energy efficiency if it wants to be internationally competitive.

"Make no mistake, we are in a global race and the countries that succeed in that race, the economies in Europe that will prosper, are those that are the greenest and the most energy efficient," Cameron said. "Energy consumption is set to grow by a third over the next two decades alone. And in a race for limited resources it is the energy efficient that will win that race."

While some believe that the fragile state of the economy precludes such investment, Cameron flatly rejected that argument by saying that the promotion of the government's wide range of energy efficiency policies is a matter of economic competitiveness. UK currently has an array of policies for driving energy efficiency investments. They include the Green Deal, the carbon floor price, Climate Change Agreements, Enhanced Capital Allowances and the Carbon Reduction Commitment.

However Climate minister Greg Barker, said there was the need for a more "coherent" approach to promoting these initiatives. To that end Cameron is calling for a closer working relationship between businesses and government.

"Already today Britain is one of the best places for green energy, green investment and crucially for green jobs anywhere in the world," Cameron said.

"But I want to go further... I want to bring these [policies] together and really explain to the world, and particularly investors, what is available here in Britain... Together we can make Britain a global showcase for green innovation and energy efficiency. Together we can do the right thing for our planet and, just as important, do the right thing for our economy too."

"It is the businesses that are best insulated from energy price shocks that will be the most successful, it is the consumers who are the least vulnerable to energy prices whose household bills will be the lowest and who can be the most confident about their future. And yes, it is the countries that prioritize green energy that will secure the biggest share of jobs and growth in a global low-carbon sector set to be worth $4trn by 2015."

"Businesses know that going green can boost growth. Our research shows that supporting the UK's low-carbon economy with the right policies could potentially add £20bn to GDP by 2015. said Rhian Kelly, director for business environment policy at the CBI. "Britain must maximize these opportunities to become the leading destination for low-carbon investment and strengthen our exports of green goods and services to the rest of the world."

This is the kind of leadership that should be a model for heads of state in democracies around the world.

© 2013, Richard Matthews. All rights reserved.

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The Future of Integrated Sustainability Reporting

December 13, 2012 Add Comment Edit

Corporate transparency is moving towards an integrated report in which financial and non-financial performance are tied together and articulated in a single document. Although as yet there is no formal standard as to what constitutes an integrated report, it is becoming clear that the sustainability reporting benefits a company. Research shows that financial markets reward those companies that engage in sustainable behavior and comprehensive disclosure.

As reviewed in an Ethical Corporation interview with Robert Eccles, Professor of Management Practice at Harvard Business School, integrated sustainability reporting is a trend continues to grow.

Eccles has published two books that addressed sustainability reporting and he has been a driving force in this area for almost two decades starting with a 1995 paper he published in the Sloan Management Review with Sarah Mavrinac called “Improving the Corporate Disclosure Process.”

This paper revealed that while the market was interested in non-financial information, companies were not disclosing information on sustainability.

In a 2010 book titled One Report: Integrated Reporting for a Sustainable Strategy, Eccles wrote with Mike Krzus they explored the idea of “integrated reporting.”

Eccles says that "the vast majority of investors aren’t interested in sustainability reports. This is not surprising since they are not the target audience for them. Sustainability reports are meant for a broad range of stakeholders, most of whom have a very particular environmental, social or governance interest."

However they are interested in integrated reporting which is intended for investors, as well as for those stakeholders who want a more holistic view of the company’s performance.

Eccles goes on to say that "Even so-called mainstream investors are increasingly recognizing that a company’s ESG performance increasingly affects its ability to create value for shareholders over the long term, and can even put its license to operate at risk."

Eccles believes that 2013 and beyond should be a very exciting time for integrated reporting. He does not expect that mandated reporting will happen in the US any time soon.

Although he says that "Mandating disclosures is something that needs to be done by the state." He goes on to say that "I don’t expect to see much in the way of mandating specific disclosures in any country. I also don’t think that this should happen. Mandating specific disclosures is contrary to the spirit of integrated reporting and ignores the fact that what should be disclosed is a function of a company’s sector and strategy."

Eccles expects that many more companies will be issuing integrated reports on a voluntary basis. He also says that "companies will be increasingly sophisticated in how they are leveraging the Internet to make integrated reporting an active and engaging exercise with shareholders and other stakeholders where they listen as well as talk."

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Corporate Sustainability Reporting: To Disclose or Not to Disclose

December 13, 2012 Add Comment Edit

Although there is more public pressure to disclose information, that does not mean everyone wants to comply. While many companies have committed to greater transparency, others believe greater transparency provides too much information to detractors and competitors.

As explained in a triple Pundit article by Robert Ludke, the Managing Director of Public Strategies, sustainability reporting is the better option.

While there are undeniably risks associated with disclosure, by presenting reports, a company or organization is able to set the terms of the discussion about how these materials are provided to the public.

Transparency that illustrates a companies sustainability journey will be rewarded by its stakeholders. Investors will see a company worthy of their capital, customers will support the brand and public audiences and reputational goodwill can be strategically valuable in both good times and in bad.

Sustainability reporting is not only financially viable it is proven to outperform those who are less sustainable. This is borne out by Harvard University’s Dr. Robert Eccles and his team in a 2011 report entitled, “A Corporate Culture of Sustainability."

Their report demonstrates that the rate of return on high sustainability companies was better than the the rate of return for their low sustainability peers. “Investing $1 in the beginning of 1993 in a value-weighted (equal-weighted) portfolio of sustainable firms would have grown to $22.6 ($14.3) by the end of 2010…In contrast, investing $1 in the beginning of 1993 in a value-weighted (equal-weighted) portfolio of traditional firms would have grown to $15.4 ($11.7) by the end of 2010.”

The public and investors are increasingly demanding greater levels of sustainability. They want to know more about a companies behavior as well as its financial impacts. The choice is simple, the information can be speculated upon by others or it can by presented by the company itself. Clearly the latter option is better than the former.

Disclosure has been shown to benefit a company's reputation and the bottom line, while non-disclosure may prove very risky.

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Sustainability Offers a Competitive Advantage & Better ROI

September 18, 2012 Add Comment Edit

According to the 2012 Carbon Disclosure Project (CDP) report, sustainability makes companies more competitive and offers investors better returns. This is driving an increasing number of publicly traded companies to embrace sustainability as part of their long-term strategy to combat climate change. The CDP gathers information for investors about the environmental policies of large companies and the environmental risks they face. The CDP has created an index to recognize the world's best companies called the Carbon Performance Leadership Index (CPLI). The companies that make it onto these lists tend to generate superior returns for investors.

"Our focus is less on payback periods and more on targeting environmental investments to be 'value positive," Deirdre Mahlan, Diageo's CFO, said. "It is insufficient, and even irresponsible, to consider only short term payback when making investment decisions."

"An investment in a basket of stocks of CPLI companies following the publication of CDP's global report each year since 2006 and rebalanced on any annual basis to reflect that year's CDLI would have generated total returns of 67.4 percent, more than double the 31.1 percent return of the Global 500," write the CDP report authors. "Moreover, past CPLI companies generated average total returns of 15.9 percent since 2010, more than double the 6.4 percent return of the Global 500."

The Carbon Disclosure Project’s report concludes: “Those companies that have an awareness of long-term climate-change risks and opportunities reflected in their business strategy will gain strategic advantage over their competitors.”

For more information click here.

© 2012, Richard Matthews. All rights reserved.

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The Free-Market Case for Sustainability from a Skeptic (Video)

September 01, 2012 Add Comment Edit

Free market capitalist, libertarian, and green advocate T. J. Rodgers is neither a Democrat nor a Republican, yet he enthusiastically makes the business case for companies cashing in on renewable energy like solar power. He has demonstrated through his own experience and the experience of his company (Sunpower) that going green is fiscally responsible. Rodgers is even receptive to President Obama's take on cap-and-trade. What makes his approach particularly interesting is the fact that his advocacy does not engage the environmental argument, rather he argues the case for green based upon the benefits provided to business.

As Rodgers says, it makes sense to provide people what they want and make it efficiently leading the charge for renewable energy. A dedicated, unabashed, free market capitalist, T. J. Rodgers takes a business approach that is skeptical of the impacts of global warming.

While he cannot refute the science that indicates the planet is warming due to human activities, he is skeptical of the degree of warming, he does not foresee a catastrophic sea level rise, nor does he see the relationship between a warming planet and extreme weather. He goes on to assail Al Gore's stance on the environment. However, he makes the point that you do not need to support the science of climate change to see the merits of companies being more sustainable.

© 2012, Richard Matthews. All rights reserved.

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Historic Opportunities in the Green Economy

August 29, 2012 Add Comment Edit

We have the means to reinvigorate the economy, create millions of jobs, increase energy security and open up vast new exports markets. If we are to keep carbon concentrations below 450ppm, we can anticipate clean energy investments exceeding $13 trillion over the next two decades. These investments lower energy costs and directly benefit manufacturers of cleaner cars, cleaner fuels, cleaner power and companies involved in improving industrial, power plant, and building efficiency.

While the clean energy industry offers significant growth opportunities, to capitalize on this historic opportunity we need comprehensive energy and climate legislation. Such legislation can create 1.9 million new clean energy jobs in the US by 2020. Globally the new green economy could generate 15 to 60 million additional jobs over the next two decades.

The hybrid and electric vehicle market exemplifies this growth opportunity. With policies that cut emissions in half, the market for hybrids, plug-in hybrids, and electric cars is expected to grow substantially over the next two decades as global demand for these vehicles is expected to reach nearly 800 million units.

To maximized the growth of the green economy we need to invest in efficiency and clean energy deployment, we must also require utilities to obtain a percentage of their electricity from renewable sources.

Clean energy and climate legislation is not just smart business policy it is also smart energy security policy. The US could cut its consumption of foreign oil by 30 percent over the next two decades. This would free up trillions of dollars that could be reinvested in the new energy economy.

Comprehensive clean energy and climate legislation can create both the sustained incentives and long-term price signals. This would maximize energy efficiency and commercialize innovations in renewable technologies. However, to keep emissions down we must put caps on GHGs.

Energy and climate legislation will provide jobs, enhanced energy independence and competitiveness. But to get there we must support political leaderships that see the value of the new energy economy.

© 2012, Richard Matthews. All rights reserved.

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Bridging the Gap: A Financial Approach to Sustainability (White Paper)

July 18, 2012 Add Comment Edit

"Do good and you will do well!" pundits and companies often assert. While the tagline sounds great, the reality is that many companies struggle to connect sustainability with core business goals such as increasing sales, reducing costs, or reducing risks. As a result, sustainability departments are often seen as tangential to the core business, and annual CSR reports are mostly filled with anecdotal feel good stories. More often than not, environmental impacts, costs, and risks are mostly hidden and do not show up in companies' main accounting systems. As long as a CFO or Procurement Officer does not have visibility on such costs and risks in financial terms, the environment will at best remain a Chief Sustainability Officer issue.

The good news is that change is underway, mostly driven by buyers recognizing their own costs and risks from environmental impacts and asking their suppliers to be a part of reduction efforts, as seen in recent efforts by large retailers and organizations like the US Department of Defense.

Download the new white paper from Enviance to learn how a Fortune 100 company is responding to buyer pressure and effectively connecting sustainability and profitability, with a rigorous accounting of sustainability impacts, costs, and risks. You will also learn about the 4 KEY STEPS to make sustainability departments integrated partsof core business operations.

To download the white paper click here.

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Slash Energy Cost & Reduce Budget Uncertainty

February 06, 2012 Add Comment Edit

Here is a white paper on energy for big retailers sponsored by Verisae and published by Environmental Leader. In this special report you can discover energy management ideas tailored to the business of big retailers. New-store design, refurbs and retrofits may present the biggest and most obvious opportunities to make dramatic, long-lasting improvements in energy efficiency and budget certainty. But the weak economy has caused most retailers to cut way back on such projects. Energy-cost reductions can make a big difference for your company’s financial performance. After payroll, energy is among the largest operating costs for any grocery retailer. In fact, energy cost may amount to roughly half or more of net profit. A 10% reduction of energy cost can increase net profit by 5% to 10%. To download the white paper see below.

Click here to download this white paper.

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Video: The Financial Opportunities from Sustainability

January 14, 2012 Add Comment Edit

In this video Sarah Slaughter, the Associate Director for Buildings and Infrastructure at MIT, address the challenge of sustainability. Many organizations feel overwhelmed by the prospect of being more sustainable. Slaughter addresses the question of who needs to be at the table to build a Sustainability strategy. Sustainability is an important issue for communities and government officials, but is is also a key part of what CFOs need to consider when looking at risks and opportunities. As Slaughter says, if CFOs can find new ways and new products and new services that provide new market opportunities, it's like found money on the sidewalk.

© 2012, Richard Matthews. All rights reserved.

Video: Sustainability is Driving Competitiveness

January 14, 2012 Add Comment Edit

According to National Business Initiative (NBI) program manager Steve Nicholls, Environmental sustainability is an important business driver for competitiveness.

© 2012, Richard Matthews. All rights reserved.

Video: Sustainability...Your Competitive Advantage

November 12, 2011 1 Comment Edit

Caterpillar Sustainable Development Manager John Disharoon presented "Sustainability...Your Competitive Advantage" daily from the stage in Generations Park at CONEXPO-CON/AGG 2011.

© 2011, Richard Matthews. All rights reserved.

ISO Standards and Greener Vehicles

May 25, 2011 Add Comment Edit

ISO is working to support cleaner cars because they understand that the future is about fuel-efficient, low or no emission vehicles. ISO standards for the automotive industry cover environmental considerations but they also cover things like safety, ergonomics, performance, test methods, and the roll-out of innovative technologies. These standards help to make new automotive technologies ecological, efficient, safe and effective.

Standards are being adapted to the new challenges of battery electric vehicles (BEV) and hybrid electric vehicles (HEV). These new standards cover issues like safety from electric hazards, on-board rechargeable energy store systems and protection against failures.

The ISO and the International Electrotechnical Commission (IEC) have reached an updated agreement concerning the standardization of road vehicles. The Agreement Concerning the Standardization of Road Vehicles improves cooperation on standards for electric vehicles and automotive electronics. As revealed in the agreement, ISO is helping to plug these technologies into the electricity supply infrastructure, also known as the grid.

ISO 15118 deals with the interface between electric vehicles and the grid, including communication links and protocols.

ISO committes are currently working on standards for electric vehicles and extensions of existing standards. A committe known as ISO/TC 22 is developing standards for electric vehicles and the extension of ISO 6469 seeks to ensure the safe handling of electric vehicles.

Also under development is ISO 12405, which provides test specifications for lithium-Ion traction battery systems.

ISO is providing an internationally recognized approach that will help to further the growth of greener vehicles.

© 2011, Richard Matthews. All rights reserved.

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ISO 14001 Certification in the Solar Sector

May 25, 2011 2 Comments Edit

A number of green companies have sought ISO 14001 environmental management certification including those associated with solar power.

Satelite solar panel maker AXT Inc. is committed to environmental protection and positive corporate citizenship. In 2006, they were certified as ISO 14001:2004.

A German manufacturer of photo-voltaics known as Q-Cells, is also ISO certified. The company earned ISO 9001:2000 certification and ISO 14001:2004 certification. Q-Cells is the world`s second largest maker of PV cells, after Sharp of Japan.

The Swiss connector manufacturer, Multi-Contact, which provides electrical connectors to the photovoltaic industry, recently achieved DIN ISO 14001 certification. The company uses resource saving MC Multilam Technology. With the MC3 and MC4 connector systems, Multi-Contact is leading in the Photovoltaic sector worldwide. With successful ISO 14001 certification the company has strengthened its sustainable positioning.

With the help of ISO certifcation, companies in the solar sector are integrating ecology into their management, processes and practices.

© 2011, Richard Matthews. All rights reserved.

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The Implications of ISO 50001 for Your Business

May 24, 2011 Add Comment Edit

To help businesses understand the implications of the new energy oriented ISO series, GreenBiz.com gathered a panel of energy and sustainability executives for a webinar titled, "ISO 50001: Preparing for the New Energy Management Standard."

The business community is increasingly adopting sustainable practices to decrease costs, reduce environmental impacts and add value. Energy management is central to these efforts. According to panelists Bill Allemon, vice president of Energy Management Services at ARCADIS U.S. what distinguishes the new ISO standard is its reach and range.

Other panelists include Don Macdonald, director of Sustainability Business Development of UL DQS Inc., and Kelly Smith, Global Energy and Sustainability program manager for Johnson Controls Inc.. The discussion was moderated by GreenBiz Executive Editor Joel Makower.

Allemon said, "the standard gives you the tools and basics, and if you want to, you can go all the way to certification." Smith of Johnson Controls noted that the standard can be applied to a single facility or building within a company and be used across an organization.ISO 50001 provides a systematic comprehensive approach for continuous improvement and an emphasis on performance management which are essential for development of sustainable organizations, Macdonald said."Energy is a corporation's 'currency,' " said Macdonald, pointing to a failure to value energy as organizational currency as a key barrier to improving energy management. Other barriers he cited include:

-Absence of continuous monitoring, metrics and performance management.
-Initial costs more important than recurring costs.
-Disconnect between capital and operating budgets.
-Immature sustainability culture.
-Shareholder focus on production rather than efficient use of resources.
-Failure to embed deep process quality management systems in an organization.

The panelists' presentations and their discussion are available in a GreenBiz webinar which can be downloaded free with registration.

© 2011, Richard Matthews. All rights reserved.

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ISO 50001 Energy Management Standard

May 19, 2011 1 Comment Edit

The International Standards Organization (ISO) is developing a guideline for energy management known as 50001 which will be published in the third quarter 2011. ISO 50001 is designed to help organizations improve their energy performance, increase energy efficiency and reduce climate change impacts.

ISO has identified energy management as a priority area meriting the development and promotion of international standards. Effective energy management is a priority focus because of the significant potential to save energy and reduce greenhouse gas (GHG) emissions worldwide.

The new energy guideline establish a framework for energy management systems for buildings, industrial plants, commercial facilities and utilities. ISO 50001's broad applicability across national economic sectors, it is estimated that the standard could influence up to 60 percent of the world’s energy use.

ISO 50001 Energy Management Standard is based on the common elements found in all of ISO’s management system standards. It is entirely compatibility with ISO 9001 (quality management) and ISO 14001 (environmental management).

ISO 50001 will provide a framework for integrating energy efficiency into management practices. It will make better use of existing energy-consuming assets, as well as provide benchmarking, measuring, documenting, and reporting of energy intensity improvements and their projected impact on reductions in GHG emissions

ISO 50001 will provide energy management best practices and good energy management behaviors. It will also supports transparency and communication on the management of energy resources. Evaluating and prioritizing the implementation of new energy-efficient technologies are important part of the framework that also promotes energy efficiency throughout the supply chain and energy management improvements in the context of GHG emission reduction projects.

ISO 50001 is being developed by ISO project committee ISO/PC 242, Energy management, whose Chair, Edwin Piñero, has said of the new series of guidelines, “Everyday, organizations all over the world deal with issues such as energy supply availability, reliability, climate change, and resource depletion. A critical element in addressing these issues is how effectively an organization manages its energy use."

“ISO 50001 provides a proven model that helps organizations systematically plan and manage their energy use. With a strong focus on performance and continual improvement, ISO 50001 will contribute to enhanced energy efficiency and prudent energy use. An extremely high level of consensus drove our committee’s fast progress toward publication - proof that the world needs and wants this standard.”

Roland Risser, Chair of the U.S. Technical Advisory Group to ISO/PC 242, and Manager of the Building Technologies Program at the U.S. Department of Energy, underlines that, “This new International Standard provides the structural framework for commercial and industrial companies to continually improve their energy intensity - saving money, improving competitiveness and reducing pollution. When companies can link efficiency to profitability, that’s a win-win.”

© 2011, Richard Matthews. All rights reserved.

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China's Green Investments and Growing Economic Preeminence

February 12, 2011 Add Comment Edit

Companies operating in China are seeing a wealth of opportunities in the green sector as are investors. However, Chinese government investments are driving even greater opportunities on the horizon.

In 2010, China surpassed Japan as the world’s second-largest economy. In three-decades China has emerged from Communist isolation to global superpower. China is also leading the world in its support for a green economy.

Domestically China has lifted 300 million citizens out of poverty. Globally China has helped lift the world out of recession. According to the Organization for Economic Cooperation and Development, China's “double-digit” expansion was responsible for a third of global growth in 2010. The International Monetary Fund (IMF) said in a report on Oct 6, 2010 that China's growth was projected to be 10.5 percent in 2010 and in 2011 growth is projected to be 9.6 percent.

China has even overtaken the US as the world's biggest automobile market. It is also increasingly leading the world in technological innovation and new patents. China is already the world leader in wind and solar energy manufacturing, firmly establishing its global dominance in cleantech.

China’s clean-energy success is due to the same factors that made it a manufacturing leader, low labor and construction costs, expanding universities that produce large numbers of engineers and technicians, improving telecommunication and transport systems.

The green market is destined to be the single biggest economic trend of the twenty-first century and China's leadership is cementing the nation's role as the world's green leader. China's green market investments will soon propel that nation ahead of the US as the world's pre-eminent economic power.

PricewaterhouseCoopers said in a January 2011 report that China is on course to overtake the US as the world’s largest economy around 2020. Ten years from now a waning superpower may look back and realize that Chinese government investments provided the edge that enabled China to out-compete America.

© 2011, Richard Matthews. All rights reserved.

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The Chinese Government is Investing in Clean Energy while the US Congress Dithers

February 03, 2011 Add Comment Edit

In January, Chinese President Hu Jintao came to Washington on an official state visit. In a joint statement President Obama and President Hu said that they "view climate change and energy security as two of the greatest challenges of our time."

During a press conference, President Obama said, “I believe that as the two largest energy consumers and emitters of greenhouses gases, the United States and China have a responsibility to combat climate change by building on the progress at Copenhagen and Cancun, and showing the way to a clean energy future. And President Hu indicated that he agrees with me on this issue.”

With a 2009 investment of $34.6 billion (US), a 2010 study by Pew Charitable Trust considers China to be the world's leading country in clean energy financing. Due to China's domestic policies that promote the use of renewable energy, China's investment and financing for clean energy is almost double America's $18.6 billion (US). The Pew study said countries like China, Brazil, the UK, Germany and Spain that have "strong, national policies aimed at reducing global warming pollution and incentivizing the use of renewable energy are establishing stronger competitive positions in the clean energy economy."

According to a 2010 International Energy Agency report, Chinese energy consumption has doubled over the past decade, and will soar 75 percent by 2035, accounting for more than a third of total global consumption growth. To help meet this demand, China is aggressively investing in renewable sources of energy.

China's need for energy will transform the global clean energy landscape, dramatically expanding markets for clean technologies and prompting major state investments in low-carbon energy alternatives. China has become the world's most vibrant market for a range of green economy technology including renewable energy, high-speed rail, smart grid technologies, and even a growing domestic market for electric and plug-in hybrid vehicles.

China has also set ambitious targets of 100 gigawatts of wind power and 20 gigawatts of solar by 2020. Each target is supported by feed-in tariffs and other financial incentives for renewable energy projects, and in 2009, China surpassed the United States as the world's largest market for wind power.

China is also the world's largest solar cell manufacturer with an annual output of 4,382 MW and the number is still increasing. The current yearly output of solar cells in Jiangsu Province alone accounts for 25% of global output.

China's planned investment in the clean tech market amounts to $740 billion or 5 trillion yuan while the American Recovery and Reinvestment Act has allotted less than 5 percent of that amount to clean tech.

Despite a wealth of bilateral engagements and coordination between the two leaders, America is not competing on the same footing in clean tech. The current American energy policy can only be defined as stupid. While the Chinese government is making massive investments, a climate denying Congress ensures that the US will continue to fall behind in the clean technology race.

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