Going Green Action Plan: Resource Guide For Eco-Advantages

For companies looking at going green or trying to sustain a green strategy, a workable step-by-step action plan can be found in the book, Green to Gold (John Wiley & Sons).
A good first step in any company’s green action plan is to ask everyone in the company – from the front office to the back door – to read this book.

In Eco Terms

Co-authors Daniel C. Esty, Hillhouse Porfessor at Yale University and Andrew S. Winston, environmental strategist, have combined their years of experience working with companies of all sizes and types to produce an eco book that can easily be considered a guidebook to developing and implementing a green initiative. The book introduces its readers to eco topics such as:

• The Eco-Advantage
• Natural Drivers
• Eco-Tracking
• Inspiring an Eco-Cultural
• Eco-Advantage Strategy
• Eco-Advantage

Companies produce an eco-advantage by building a “sustained competitive advantage” and conducting business through an eco-lens. Companies can cut costs, reduce risks, drive revenues, build value, and make a deeper connection with customers, stakeholders and employees.
According to the authors, there are two sources for eco-pressures, limits of natural resources (natural drivers of eco) and the growing pressure from stakeholders.

Esty said, “The world has come to understand that the environment is a critical element of strategy and sustainability and in what it’s going to take to be a successful company going forward.”

Esty continued,“There is an expanding set of stakeholders who now care about environmental performances. Today there is a much broader set of activists including community members and leaders such as city mayors, customers, and employees.

Winston added, “The green path isn’t optional anymore. The companies that don’t seek eco-advantage may not survive the demands of customers, consumers, employees, or rising energy prices and a carbon-constrained world.”

Environmental Thinking

The authors provide three basic business reasons for companies to think and act environmentally:

• Upside benefits
• Management of downside cost and risks
• Values-based environmental stewardship

These three factors benefit or provide advantages to big business and small business alike.

Esty said, “GE is a company that has dramatically reorganized itself to meet public demand for environmental goods and services. This has become a major element of GE’s current economic strength.”

For small business, Esty stated, There are just thousands of small businesses finding that brining in an environmental dimension is what will separate them from the pack.

Action Plan for Eco Strategies

The recommended action plan includes three major steps:

• Short Term actions include looking at where your company stands now and launching eco pilot projects.
• Medium Term actions include tracking green performance by determining eco footprint, capturing data, creating metrics and setting up eco management systems, all the while building a green culture within the company. An eco-culture gets employees excited about going green and encourages their participation for finding ways to improve on the green initiative.
• Long Term actions include taking on a deeper commitment and strategy within the business.

Green Creates Value

With slow sales, slower growth and downturn that hasn’t reached the bottom yet, how does a company make a viable business case for keeping or implementing new eco-strategies?

Esty said, “Significant elements of green movement will save money in the short urn and will drop straight to the bottom line. The idea that companies can put aside the green agenda for a while is a big mistake.”

Winston agreed, For right now, the focus will be more narrow – getting lean to cut costs and survive the downturn.

A Guide to Eco Sustainability

For those companies just starting on eco, or for those trying hard to sustain eco-initiatives, Green to Gold carries its weight as a valuable resource guide for turning green initiatives into positive results – especially to the financial bottom line.