In this article, George Dallas argues that corporate governance should not be looked at as an external discipline that imposes costs, but rather as an internal discipline that adds value — it is about creating a corporate culture that embodies and implements core values and principles intended to enhance the quality and sustainability of a firm’s future performance.

CAN CORPORATE GOVERNANCE BE A VALUE DRIVER OR IS IT SIMPLY A NECESSARY COST OF COMPLIANCE?

Particularly in the United States, but also globally, much of the recent focus of companies in the area of corporate governance has been in terms of compliance with Sarbanes-Oxley, most notably its section 404 on internal controls. This is a costly and complex process and carries with it the overhang of prosecution, both civil and criminal. Outside the United States there is the additional dimension of imposed compliance with another country’s regulatory requirements — which can be not only costly, but also at odds with prevailing governance structures. In this context one should not be surprised to see many weary and threatened corporate executives viewing governance reform as a costly compliance burden whose benefits may not outweigh its costs.

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Congratulations! You have a shiny new green product and you want to market it the right way. You worked hard to make it state-of-the-green-art – and you want people to believe that the product really is as green as you claim it to be. You naturally think of going the eco-labeling route, but stop. Unless it’s required by certain retailers or other customers, it may not be necessary. There are plenty of alternatives (as well as complements) to pursuing certification from a third party, no matter how trusted or well-known that third party is among even the greenest of consumers.

Eco-Labels: Benefits and Pitfalls

An eco-label is granted by a third party to certify the green-ness of any aspect of a product (single attribute label) or its entire life cycle (multi attribute label), including how it is produced (no CFCs), to the materials it uses (recycled, renewable), to where it goes after disposal (compostable). Eco-labels can be issued by government (EPA’s Energy Star, USDA’s Organic), environmental groups (FSC), NGOs (UL, GreenGuard), or trade associations (USGBC, creators of the LEED program).

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July 14th, 2009 - Federal Regulators are taking a close look into regulations that will require companies to report the effects of climate change on their financial health.

Elisse Walter, one of five SEC commissioners, told E&E Publishing: “I think with the changes in the environment and everything that’s been happening, it’s really time for us to take another very serious look at the disclosure system in this area. I think it’s a very serious issue.”

This month, two meetings have been held at SEC headquarters in Washington, D.C., the subject being key indicators of climate health and their effect on corporate viability. Ceres organized both meetings, which included senior representatives from the SEC and state governments. In response to when we could expect new reporting standards, Walter told E&E: “”The staff is going to be working on it this year,” Walter said, adding that it would be too speculative to predict when, or if, the commission would formally adopt new disclosure standards.”

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This is the conclusion reached in a new report (The Business Case for Carbon Offsetting – An Independent Analysis) from the Carbon Market analyst team at New Energy Finance Ltd. The research is based on an analysis of over 2,000 offsetting companies, a complete review of previous research in this field and in-depth interviews with over 40 end-buyers of carbon offsets.

Background

The market for voluntarily offsetting carbon emissions doubled between 2007 and 2008 to reach $700m. And with forecasts suggesting that the market could double again to 2012 this new sector is now attracting the attention of more serious investors and traders, as well as more companies looking to offset their emissions.

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GE announced this week that by 2015 it is developing a turn-key product portfolio that will empower consumers to build – both new home builders and existing homeowners – to efficiently consume, manage and generate electricity to enable an overall net zero annual energy cost. In addition to GE’s current portfolio of energy-efficient lighting and appliances products and demand response technology that GE is currently developing, GE plans to develop residential power generation products like solar PV and residential wind products, well positioning GE to make the net zero energy home a reality.

“We have a long, trusted relationship with consumers, strong presence with home builders, demand response appliance technology and, the extremely critical, smart grid technology leadership of GE Energy that makes the GE net zero energy home an exciting prospect for our future growth,” said GE Consumer & Industrial President and CEO James Campbell.

The GE net zero energy home offerings will be comprised of three major groups within the product portfolio: energy efficient products, energy management products and energy generation/storage products.

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July 13 — More than 500 properties are now part of the Green Lodging program operated by the Florida Department of Environmental Protection.

The state recently approved more than 40 properties for inclusion in the voluntary program, which recognizes lodging facilities that adopt conservation practices involving energy, water, air quality and waste.

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July 9th, 2009 - In a Senate Panel hearing today, Rich Wells, VP of energy at Dow Chemical, told congress to act quickly and pass a cap and trade program to fight climate change. Dow joins other industry representatives such as GE and Exelon in calling for a price on carbon.

Speaking to the Senate Environment and Public Works Committee, Wells stated “We believe the cost of inaction will far exceed the cost of comprehensive, far-ranging and expeditious action today.”

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NEW YORK — Having helped companies explore the labyrinth of greenhouse gas regulation in Europe, the Big Four auditing and accounting firms are now moving quickly to build climate and carbon shops in the United States. Their goal is to stake claim to a business that could one day rival tax compliance and financial disclosure in size and scope.

Deloitte Touche Tohmatsu, Ernst & Young, KPMG and PricewaterhouseCoopers are the undisputed giants of the auditing, tax advisory and business consulting world. They boast a client list that includes thousands of the biggest names in the corporate world.

The four are already well-known in Europe for their carbon footprint accounting, abatement strategy consulting and emissions disclosure services as industries on the other side of the Atlantic are forced to comply with the European Union’s Emission Trading Scheme (ETS), but so far, their presence in America’s nascent carbon market has barely been recognized.

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OAKLAND, Calif. — It’s no secret that there is plenty of work ahead of us in moving the U.S. to a green economy. The trouble is not in finding people who need work, but rather in finding qualified and well trained workers to take on those jobs.

For companies facing a shortage of applicants, a promising solution is in the works: Green jobs training programs will make it easier for companies to make those hires, and federal, state and local projects are helping spread those nationwide.

As an added bonus, these programs will also make it easier for companies who prioritize hiring local, to meet their goals. Sun Light and Power, a solar panel installer based in Berkeley, Calif., thinks these green job training programs offer the best of both words:Workers that are both local and well trained.

“It’s important for us to hire employees from the community because we believe in continuing to support learning and development after the training programs they’ve gone through,” said Ellen Lee, Human Resources Director for Sun Light & Power.

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A startup company in Delray Beach with ties to a local developer is trying out another use for land: growing crops that can be used for biofuel.

Ag-Oil, which is affiliated with Boca Raton-based Ascot Development, announced plans to build a biodiesel refinery on 103 acres in Delray Beach.

The refinery would be a pilot-scale facility designed to process algae and non-food oilseed crops such as jatropha, a bush that yields beans with a high oil content.

Ascot has been working on such projects as the Delray Marketplace commercial development and the Whitworth Farms residential development.

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