Majority of Retailers Taking Sustainability to Heart, Survey Finds (2-Oct-07)
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Full story: Majority of Retailers Taking Sustainability to Heart, Survey Finds (2-Oct-07)
The Retail Industry Leaders Association’s new Sustainability Initiative has two main objectives: to advance socially sustainable business practices in the retail industry, and to ensure that RSI members are recognised for the leadership they do to provide in environmental stewardship.
A recent survey conducted by BDO Seidman has found that 66% of retailers have already begun their transition to green, with the majority of retailers pursuing both internal and external green practices.
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ARLINGTON, Va., Oct. 2, 2007 -- The Retail Industry Leaders Association's new Sustainability Initiative aims to develop cleaner and greener business practices while making sure customers and policymakers recognize the progress made by the group. And a new survey finds that 66 percent of retailers have already begun the transition to green.
RILA's Sustainability Initiative was developed from research into how the group could move forward quickly and effectively on reducing the impact of its activities, and is aimed at changing how the retailers do business across the entire supply chain.
The RSI is focused on two main objectives: to advance socially sustainable activities and business practices in the retail industry, and to ensure that RSI members are recognized by their customers and policy leaders for the leadership they do provide in environmental stewardship.
"For years, our members have been embracing stewardship and sustainability," explains RILA President Sandy Kennedy. "Through the RSI, we will gather the leading retail companies in the country to advance activities and business practices that will move the industry forward as a whole."
RILA is made up of 55 retailers that together account for over $1.5 trillion in sales, including companies like Gap, Wal-Mart, IKEA, Sears, Target and Nike. Together, these retailers operate more than 100,000 stores, manufacturing facilities and distribution centers around the world.
The results of a survey announced yesterday makes clear that retailers have begun taking on environmental initiatives in a significant way: two-thirds of CFOs said their companies are actively undertaking environmentally friendly practices, and 44 percent said they have increased their investments in green practices over the last two year.
The survey, conducted by BDO Seidman as part of their Retail Compass Survey, also found that, among the top 100 largest retailers, 83 percent are involved in green practices and 62 of those have increased their green investments during the past two years. The majority of all retailers surveyed said they are pursuing both internal and external green practices, from improving the efficiency of operations or facilitys to selling greener products, while only 9 percent said their companies are focused solely on external practices.
"Retailers are focused on the importance of implementing environmentally friendly and energy efficient business strategies, commonly referred to as going green," BDO Seidman's Catherine Fox-Simpson said about the survey. "These businesses reap a two-fold benefit from pursuing green practices -- consumer appeal and substantial tax breaks."
- Source: GreenBiz.com
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