CFOs and the environment
A longtime challenge for corporate environmental departments has been the ability to measure their work in monetary terms (“Earth in the Balance Sheet” December 2007). The increased demand for sustainability reporting and the increased role of the CFO are positive steps in incorporating environmental management in the day-to-day activities of a company. The CFO’s involvement will lead to better and standard metrics for sustainability reports. This will lead to better compliance with environmental regulations and improvement of a company’s financial performance, as well as an improvement of a company’s environmental impact. Case in point is the plastic-packaging manufacturer mentioned in the article. By examining the environmental issues of its processes, this manufacturer improved its efficiency and lowered its costs while improving its environmental performance.
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