US Manufacturers Unprepared for New Green Economy, Survey Says
Most U.S. manufacturers say they can't track their carbon footprint
Long the domain of corporate social responsibility, it’s now just a matter of time before manufacturers across all industries are mandated to report and measure their environment impact, specifically their emissions of CO2 and other green house gases.
Whether these reporting requirements are the result of climate change legislation or regulated (and the Environmental Protection Agency has clearly signaled that it will not shy away from using its regulatory hammer if legislation fails) greater environmental oversight by federal and state governments is a certainty.
But are U.S. manufacturers ready to comply with these looming requirements? The short answer is no, not even close, according to a yet-to-be released study by IFS, a Swedish software developer.
The study, compiled by Reed Business Information for IFS’ North American unit, shows that 48 percent of surveyed manufacturers do not even have the technology to accurately report and track their environmental footprint. Another 28 percent says their ability to track their environmental impact is “limited.” Although 83 percent of respondents said tracking their company’s environmental impact is important, they say that deploying the technology to do that is too expensive.
Particularly hurt, according to the IFS survey, are mid-market companies that generate between $250 and $999 million in revenue. Only 20 percent of these companies indicate that they’re tracking their environmental footprints, compared to 36 percent of companies making $1 billion-plus in revenues.
Over 260 mid-size manufacturers participated in the IFS survey.
Photo Credit: Paper Workers, Douglass Crockwell, Smithsonian American Art Museum
This is very troubling. How can so many U.S. companies, the leaders of global innovation, be so behind on implementing and taking advantage of this growing trend and soon-to-be-mandated paradigm? What is even more troubling is that there are thousands of companies in the U.S. right now that have embraced green jobs and growth and are profiting from it even during this recession. That so many businesses can’t wrap their head around the need for new investments and innovative thinking is saddening. I encourage readers to check out http:///www.greencollareconomy.com for more information about great companies that are doing well by being the first to take advantage of the new and growing market of green products and services. There are thousands listed. There is also a plethora of case studies at http://www.greencollareconomy.com that demonstrate who the new model of business will need to be green if investments, and the planet, are going to survive.