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Sustainability: One Stock That’s Rising

October 2nd, 2008 · by Tim Minahan · 1 Comment · best practices, enviro/social sustainability, oil/energy, supply risk

On the day the stock market lost a record $1.2 trillion in value, another trading exchange saw values of its stocks rise nearly 65%. A factor that could have implications for your company’s spend management and operating plans.

Under the Regional Greenhouse Gas Initiative (RGGI), a group of fossil-fuel burning power plants in 10 Northeastern states held the nation’s first-ever cap-and-trade greenhouse gas auction. The controversial program requires power producers in the region to buy credits to cover their carbon dioxide emissions, which are viewed as a key culprit behind global warming.

The belief is that the program will encourage the nation’s biggest polluters to adopt more fuel-efficient and eco-friendly supply and manufacturing approaches by instituting what constitutes a tax on carbon emissions above a certain threshold. Proceeds from the $40 million raised during the auction will be spent on renewable and energy-efficient technologies.

While regulators are still gauging the success and structure of the cap-and-trade program, the event portends coming legislation and policies that will drive your company to adopt environmentally and socially responsible business practices.

Said one senior procurement executive I met with at the Sourcing Interests Group (SIG) event in Las Vegas last week: “Over a year ago, we saw that sustainability was important to our customers. We also anticipated increased governmental legislation on the issue and we wanted to get out in front of it.” In fact, his team identified sustainable supply management as one of its top five strategies for the coming years.

Components of his company’s plan include assessing supplier’s socially and environmentally responsible practices during the sourcing process; measuring and controlling the carbon emissions of its corporate travel program; and improving its overall supplier diversity. His procurement team is also working with the company’s real estate group to retrofit existing facilities to be more energy efficient and eco-friendly.

To better understand prevailing pressures and strategies for sustainable supply, we have launched a study of how global spend management organizations are embracing social and environmentally responsible business practices. I encourage Supply Excellence readers to participate in this brief survey here.

All respondents will receive a copy of the study findings.

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1 response so far ↓

  • 1 Barbara Walsh // Oct 10, 2008 at 2:06 am

    I’m sure you get some strange emails, and I hope this isn’t one of the strangest. My name is Barbara Bouchey, and I live in St. Louis, Missouri. I am a descendant of Minihanes of County Cork, Ireland, and have spent the last 5 years doing genealogy, as a hobby, on the Minihanes from southwest County Cork.

    Since most Minihanes, Minahans (or however it’s spelled now) are from the Minaghans/Minihanes of southwest County Cork, I thought that I would contact you to see if you know the origin of your Minihan ancestors, and would like to see if we can make a connection.

    My great grandmother was Catherine Minihane of Ballyally, born 1849, southeast of Skibbereen in Co. Cork, near the Atlantic Ocean. In 1873, Catherine married Jeremiah Walsh of Skeagh, Skibbereen. Catherine’s father, Michael Minihane was born ca 1800, and the oldest of eight children. Many of these descendants came to the US, and now I’m trying to put it all together.

    I seem to be one of the only genealogy hobbyist in the US concentrating on the Minihane name. I have much detail about the family in Ireland and would be very willing to share what I have if you are interested.

    Thanks in advance,

    Barbara Walsh Bouchey
    St. Louis, Missouri
    314-367-6222
    bbbouch@swbell.net

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