Obama White House Good for Green Business, Execs Say

Jan 8, 2009 | 12:41 PM

Nov. 10, 2008 - Nine in ten top executives agree that the incoming Obama administration will promote a sustainable business agenda, as the private sector faces increasing pressure to help solve environmental and social problems, according to a new survey.

The survey of 1,200 business leaders, conducted by Business for Social Responsibility (BSR), invited respondents to select the three most important steps the Obama administration should take to advance corporate responsibility around the world:
Promote major investments in renewable energy and carbon capture and storage technologies. (67%) Take measurable steps toward progress on effective, efficient, and fair global climate change mitigation strategies. (53%) Initiate cross-sector collaboration among business, government, and civil society. (42%)

While respondents reported general optimism about the new administration, increased government involvement in corporate responsibility issues may prove a double-edged sword. An overwhelming majority (94%) of survey respondents said they anticipate increased regulation of corporate environmental and social performance, particularly in the areas of greenhouse gas emissions (86%) and corporate governance and financial transparency (83%).

Some other findings from the survey:

Weathering the economic crisis: A third of respondents expect their corporate responsibility budget to decrease due to economic conditions - but 77% said they are confident that global business will embrace responsible business practices as part of their core strategies and operations over the next five years.

Making the business case: While 59% of respondents call corporate values an important driver of corporate responsibility decisions, 84% said companies today seek reputation benefits and 75% are looking for long-term cost savings or efficiencies as return for their corporate responsibility investments.

“[These] business leaders have confirmed that business success helps them weather uncertain times - and build long-term value that will restore trust in the private sector,” said BSR CEO Aron Cramer on publishing the findings.
The Spin: A renewed focus on environmental issues in Washington will surely strengthen the green market and require cleaner and greener marketing strategies for all industries. Expect green marketing to move from a niche to a mainstream business necessity.