Nearly three-quarters of all Connecticut businesses have embraced a strategy for responsible uses of energy and the environment, an all-time record for the state, according to a survey from the Connecticut Business & Industry Association.
The April sampling of 391 companies showed 74 percent of the respondents are committed to sustainability with the main reasons being reducing costs and environmental responsibility. The results show a marketed increase over the past four years when CBIA first began tracking green business. In 2007, less than half the respondents — 47 percent — had adopted sustainability strategies.
“The sustainability efforts that are evolving on many fronts should make Connecticut a better place to live, work and do business,” said Anthony Marone, vice president of client and external relations of United Illuminating, which sponsored the research.
Most businesses have committed to green practices only recently, with the majority adopting sustainability policies in the past two years. The biggest area of sustainability were energy efficiency or conservation, such as upgrades to lighting, HVAC and furnaces/boilers.
One of the greatest obstacle to going green, the survey reports, is lack of knowledge on whether sustainable practices will pay off. Business leaders remain unconvinced that consumers will put their environmental concerns ahead of their wallets.
Only a few respondents – 15 percent – reported a revenue increase as a direct result of the sustainability policies. Almost as many – 13 percent – reported a negative impact on their finances.
There were reports in the survey of positive impacts in the non-revenue areas of the business: 45 percent said it created better client/customer relations, 41 percent helped their public image, 39 saw an increase in employee morale and 23 percent bettered their relationships with suppliers and vendors.
“It’s encouraging to see that businesses are committing to sustainable green practices, even if it doesn’t improve their bottom line,” said Peter Gioia, CBIA vice president and economist, in a statement.
