Anew survey by RILA (Retail Industry Leaders Association) makes clear that retailers have begun taking on environmental initiatives in a significant way: Two-thirds of CFOs said their companies are actively undertaking environmentally friendly practices, and 44% said they have increased their investments in green practices over the last two years.
The survey, conducted by BDO Seidman as part of its Retail Compass Survey, also found that among the top 100 largest retailers, 83% are involved in green practices and 62% of those have increased their green investments during the past two years. The majority of all retailers surveyed said they are pursuing both internal and external green practices, from improving the efficiency of operations or facilities to selling greener products, while only 9% said their companies are focused solely on external practices.
“Retailers are focused on the importance of implementing environmentally friendly and energy-efficient business strategies, commonly referred to as going green,” BDO Seidman’s Catherine Fox-Simpson said about the survey. “These businesses reap a twofold benefit from pursuing green practices—consumer appeal and substantial tax breaks.”