Is Being "Green" the new Currency for Tech Companies? (20-Sep-07)
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Full story: Is Being "Green" the new Currency for Tech Companies? (20-Sep-07)
Environmental awareness is on the increase, yet it is not necessarily the new currency to attract more investors. However, it does have the advantage of cutting down the cost of energy consumption and increasing investor appeal.
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MANILA, Philippines -- Computer vendor HP believes that environmental awareness has increased over the years, but it's not necessarily the new currency to attract more investors, an executive told reporters.
"It's not the new currency. But there's an increasing awareness," said Pat Tiernan, HP vice president for social and environmental responsibility, in a conference call in Manila.
The HP executive, however, noted that going green for the company means increasing investor appeal, apart from complying with regulatory issues and cutting down the cost of energy consumption.
Since the 1980s, the executive stressed that environmental consciousness has been in the "DNA of HP."
"It dates back to the origins of HP," Tiernan said, as he outlined HP's effort to always keep the environment in mind as they design products, encourage energy consumption, cut down fuel use in transportation of goods, and hold suppliers accountable for environmentally friendly practices.
He also said HP is "walking the walk," implementing various programs to reduce overall energy use by 20 percent by 2010.
HP internal studies have found that customers are willing to pay premium for products that are environment friendly, the executive said.
So why is HP going green?
Tiernan explained that energy consumption has, for instance, translated to cost savings and risk reduction for HP.
"Millions of dollars were saved under our energy consumption programs," he added.
HP is designing products that are energy-efficient. Its desktop PCs, for one, were the first to meet the US Environmental Protection Agency's EnergyStar 4.0 requirements, the company said.
It has also redesigned its print cartridge packaging in North America that aims to reduce greenhouse gas emissions by an estimated 37 million pounds in 2007.
HP has introduced a dynamic cooling technology for the management of data centers, which promises to deliver 20 to 45 percent savings in cooling energy costs.
The computer vendor has also engaged more than 600 suppliers in its social and environmental responsibility program since 2003.
"It's really about managing the company's operations, and helping manage the cost and the risk of the company," Tiernan said.
- Source: INQUIRER.net
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