At the opening panel discussion of the third annual Fortune Brainstorm Green conference, moderator and green business guru Marc Gunther gave the leaders of four major environmental groups a golden opportunity – a clear platform to tell businesses what they really want. The answer from all four leaders was unanimous, loud and clear – business needs to stand up now and support climate legislation that would place a mandatory cap on carbon emission and unleash innovation and clean technology solutions.
The discussion between the heads of Environmental Defense Fund, The Nature Conservancy, NRDC and the Sierra Club followed a one-on-one session with Time Inc.’s Editor-in-Chief John Huey and former Walmart CEO Lee Scott about Walmart’s path towards sustainability over the past several years. The substantive work that Walmart has done on this front was a perfect backdrop to the environmentalists’ panel by proving that businesses can play a pivotal role in creating a more sustainable planet for us all.
“[Every business] should think hard about [its] core business capabilities – every business can have good environmental outcomes and good business outcomes,” noted Mark Tercek of the Nature Conservancy.
Other points of discussion and debate included the odds of Congress passing a climate bill by this time next year (about 50%, according to three out of the four panelists), the promise and pitfalls of ramping up nuclear energy in this country and why environmental concerns continue to rank low among Americans. A quick wrap-up question probed the environmental issues and trends businesses should be tracking in the near future, which include water consumption, resource efficiency and energy production costs, among others.
Energy efficiency, the “low hanging fruit” of environmental sustainability, continues to present a major opportunity for business. When you see a company like Walmart saving so much around energy efficiency, it makes you wonder why all companies aren't taking advantage of these opportunities to slash costs, increase productivity and minimize carbon and waste. “At what point does dealing with wasted energy become a fiduciary responsibility for corporate boards?” queried David Yarnold, executive director of EDF.
See more from David Yarnold in his interview with Poppy Harlow of CNN.
What other trends should smart businesses watch for in coming months and years? Send us your ideas, and we’ll share them here at Brainstorm Green this week.
This is the first of several posts from our staff attending Brainstorm Green.