A JP Morgan Treasury Services survey finds that approximately 80% of the more than 200 finance executives surveyed say green strategies or sustainability efforts have saved or are expected to save their company money. Approximately 79% of these executives expected to see increased efficiencies if they were to shift to a completely green treasury operation. Certain green strategies are quite popular, including converting paper-based treasury processes to electronic transactions, which was cited by 71% of participants.
While the "Going Green" survey identifies several successes in establishing corporate green strategies, businesses still have a ways to go. Only 31% say their company has assessed its carbon footprint. In addition, only 37% say their company's environmental strategy is integrated in its business plan, and a mere 20% have factored climate change into business sustainability plans. Less than half say their company has formal environmental policies or sustainability programmes.
"Migrating to electronic treasury processes can have a measurable impact on a corporation's carbon footprint as large treasury operations can easily generate 5.5 tonnes of paper each year - the equivalent of 143 trees and 106 tons of greenhouse gasses," said Susan Webb, managing director, JP Morgan Treasury Services.
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