Sustainability has become a ubiquitous corporate buzzword, and the
concept of triple-bottom-line accounting is spreading. Companies both large and small
are saving money by reducing waste and pollution.
Recent corporate scandals have accelerated a trend towards greater ethics,
transparency and accountability in business. This proxy season has seen an increased
number of shareholder resolutions; ExxonMobil investors alone filed 23.
Successful markets have been developed to trade emissions credits and reduce
pollution, including the recently opened Chicago Climate Exchange. Purchasing
managers inspect the environmental and labor practices of their suppliers, while
companies such as BP and General Electric have invested in renewable energy.
The focus on sustainable business and executive ethics is increasing at the nation’s
business schools. The green businesses industry, which was virtually nonexistent 30
years ago, is now served by dozens of publications and trade associations.
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