PITTSBURGH, Oct. 30 /PRNewswire-FirstCall/ -- Saving money is at the root
of environmental efforts among the nation's small and mid-sized business
owners, according to new survey findings by PNC Bank, a member of The PNC
Financial Services Group, Inc. (NYSE: PNC). These owners also want the new
U.S. president to support both oil drilling in restricted areas and increased
incentives to reduce energy use.
(Photo: http://www.newscom.com/cgi-bin/prnh/20081030/NETH028 )
PNC, ranked among the nation's most environmentally responsible companies
with more certified green buildings (55) than any other company on earth,
conducted its first "Green Small Business Survey" to get insights from small
and mid-sized business owners about the environment, its impact on their
decisions and other views. With the presidential election set for Nov. 4,
PNC's survey found that many small and mid-sized businesses want the new
president to 'do something' about energy and environmental policies:
-- Drill, Baby, Drill: Asked for the top energy policy action they would
recommend to the new president, one-third (36 percent) support oil
drilling in the Arctic National Refuge and other restricted areas. The
next choice, among 23 percent, is increased spending and incentives for
the development of alternative energy sources. Another 15 percent would
like to see more emphasis placed on incentives and requirements for
energy conservation and an equal number would also advise greater use
of nuclear power.
-- Pay More to Use Less: The top environmental policy recommendation is to
increase incentives for businesses to use less energy, chosen by 34
percent. One-quarter (26 percent) would support a mandate on increased
fuel efficiency standards for cars and trucks. Meanwhile, only 11
percent want the U.S. to ratify an international agreement that
mandates reductions in carbon emissions while 7 percent would implement
more stringent environmental protections.
"The biggest concern for most small and mid-sized business owners is cash
flow," said Todd Barnhart, senior vice president, business banking, PNC.
"These findings reveal that when it comes to the environment, owners think
first about their bottom line. Many are missing the point that environmental
sensitivity also makes good business sense."
Barnhart added that PNC's environmental leadership has resulted in
innovative products and services. For consumers, this includes free online
banking and a discount loan rate to buy new hybrid cars. For small businesses,
a discount loan rate is available to finance energy-efficient improvements,
e.g., water and light fixtures, Energy Star appliances, that can improve
efficiency and reduce operating expenses.
Green vs. Greenbacks: Business Decisions
Being environmentally friendly isn't all about protecting Mother Earth. In
fact, most owners cite saving money as the root of their green efforts, saying
it is the primary motivator when implementing or considering business actions
that could have environmental impact.
Three-fourths say savings are the primary reason they are currently or
would reduce energy usage, invest in energy efficient systems or change
shipping/distribution. When it comes to recycling, however, one-third (34
percent) cite savings as their primary motivation, while nearly half (49
percent) recycle for the environment.
-- Recycling Rules: When asked what actions they have taken, nearly
three-quarters (70 percent) of owners recycle. However, only about half
(55 percent) are taking action to reduce energy usage, and one-third
(39 percent) are investing in energy efficient systems. One-fifth (20
percent) have changed shipping or distribution.
-- Good Intentions: Overall, PNC found business owners' intentions are
good as 80 percent say they give some consideration to environmental
impact when it comes to running their business. Within that total,
however, 26 percent view it as a "major" consideration while 21 percent
say environmental impact is "not something I think about."
Methodology
PNC, one of nine winners worldwide of the Urban Land Institute's
Sustainable Cities Award for its commitment to green business, conducted its
Green Small Business Survey between late July and mid-August by telephone
within the United States among nearly 1,000 owners or senior decision-makers
of small and mid-sized businesses with annual revenues of $100,000 to $250
million. The results given in this release are based on interviews with 507
businesses nationally, while the remaining 399 interviews were conducted among
businesses within the states of Maryland, New Jersey and Pennsylvania.
Sampling error for the national results is +/- 4.0 percentage points at the 95
percent confidence level.
The survey was conducted by Artemis Strategy Group (www.ArtemisSG.com), a
communications strategy research firm specializing in brand positioning and
policy issues. The firm, headquartered in Washington D.C., provides
communications research and consulting to a range of public and private sector
clients.
The PNC Financial Services Group, Inc. (www.pnc.com) is one of the
nation's largest diversified financial services organizations providing
consumer and business banking; specialized services for corporations and
government entities, including corporate banking, real estate finance and
asset-based lending; wealth management; asset management and global fund
services.
This report has been prepared for general informational purposes only and
is not intended as specific advice or recommendations. Information has been
gathered from third party sources and has not been independently verified or
accepted by The PNC Financial Services Group, Inc. PNC makes no
representations or warranties as to the accuracy or completeness of the
information, assumptions, analyses or conclusions presented in the report. PNC
cannot be held responsible for any errors or misrepresentations contained in
the report or in the information gathered from third party sources. Any
reliance upon the information provided in the report is solely and exclusively
at your own risk.
