State push for businesses to employ sustainability is losing its momentum
State businesses' buy-in to environmentally friendly initiatives has waned over the past three years, according to survey results released today by the Connecticut Business & Industry Association.
The CBIA survey, which three years ago had shown 74 percent of Connecticut business involved in sustainable practices, indicated only about 66 percent of companies today are taking a similar tack.
"In spite of this downtrend, most companies we surveyed - 69 percent - say they plan to make sustainable practices an essential component of their business growth and investment," CBIA economist Peter Gioia said in a statement. "Only 7 percent do not plan to do so, and the remaining 24 percent - operating in an uncertain economic climate - say they'll have to wait and see."
Despite the recent dip in their involvement in green initiatives, businesses are still much more likely to be working out sustainable solutions in such areas as energy efficiency and waste management than they were in 2007, the survey showed. Six years ago, fewer than half of Connecticut companies were engaged in sustainability efforts.
The 2013 Sustainability and Connecticut Business Survey, sponsored by UIL Holdings Inc., was completed by 434 businesses in the state. Most were businesses employing fewer than 50 people.
KEY SURVEY FINDINGS
• For those employing sustainability practices, energy efficiency was a priority for 90 percent, waste management for 77 percent and green purchasing for 74 percent.
• Cost was cited by 65 percent of respondents as the main holdup in going green.
• 11 percent of respondents said they had stepped up efforts to go green, while 9 percent backed off such efforts.
• 32 percent of businesses require associated manufacturers, suppliers, distributors and retailers to adopt green business practices
• Of those adopting sustainable initiatives, 81 percent said going green has been worth the time and investment.
• 74 percent of businesses would take advantage of state government incentives for going green.
The full report can be downloaded at www.cbia.com/business.
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