Thursday, 1 May 2008

Green Spending Continues, Despite the Credit Crunch

Reuters has reported that despite economic slowdown impacting the bottom line, US industrial companies are continuing to spend on going green. The objective of these corporations, according to Reuters, is to win praise for being environmentally concerned and also stave off legislation (which sounds very like the target market for the Merrill Lynch Green & Gold services we reported on yesterday).

Of course the fact that oil prices are up 20% this year is also a factor. Energy prices were always going to be a driving force in the market, but the expectation was that legislation would force the issue with carbon taxes. As it turns out the market is doing it itself.

The Reuters article also notes that sales of green products are booming (up 20% in the first quarter).

© The Green IT Review

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