Corporate America Making Green Gains

Corporate America -- in keeping an eye on energy and cost saving -- continues to make huge strides in becoming greener, according to a new study.

Siemens' 2012 Greening of Corporate America study shows the percentage of U.S. companies highly engaged in sustainability practices has risen from 18 percent in 2006 -- the first year the same study took place -- to 42 percent in 2012, while the percentage of firms viewing environmental initiatives as costs or required legal obligations alone fell from 33 percent in 2006 to 17 percent in 2012.

"Since 2006 we've seen a dramatic shift in how corporate sustainability is transforming business," said Ari Kobb, director of sustainability and green building solutions for Siemens' building technology division. "In only six years, it has grown from being a fledgling concept to becoming a standard element of corporate strategy. Companies are no longer incorporating sustainability simply out of obligation."

The survey, which is done in conjunction with McGraw-Hill Construction, also said the influence of the chief sustainability officer position continues to rise at companies -- as does the creation of sustainability budgets.

Corporations saw both energy and cost savings as the biggest benefit to encourage sustainability, while financial considerations -- such as the state of the economy and budget issues -- were listed as the biggest obstacles to broadening such programs.

This is the third in a series of sustainability reports from Siemens initiated in 2006 to investigate the emerging trend of corporate sustainability. Siemens has released the studies every three years -- in 2006, 2009 and now 2012.