Is Big Business Buying Out the Environmental Movement?

Short answer: No.

This is just damn good PR.

With Big Business going green, is it a sign that environmental campaigns have prevailed and are setting the corporate agenda? Or have enviros been duped into endorsing what may be little more than a new wave of corporate greenwashing?

In the business world these days, it appears that just about everything is for sale. Multi-billion-dollar deals are commonplace, and even venerable institutions such as the Wall Street Journal find themselves put into play. Yet companies are not the only things being acquired. This may turn out to be the year that big business bought a substantial part of the environmental movement.

That's one way of interpreting the remarkable level of cooperation that is emerging between some prominent environmental groups and some of the world's largest corporations. What was once an arena of fierce antagonism has become a veritable love fest as companies profess to be going green and get lavishly honored for doing so. Earlier this year, for instance, the World Resources Institute gave one of its "Courage to Lead" awards to the chief executive of General Electric.

Every day seems to bring another announcement from a large corporation that it is taking steps to protect the planet. IBM, informally known as Big Blue, launched its Project Big Green to help customers slash their data center energy usage. Newmont Mining Co., the world's largest gold digger, endorsed a shareholder resolution calling for a review of its environmental impact.

Home Depot introduced an Eco Options label for thousands of green products. General Motors and oil major ConocoPhillips joined the list of corporate giants that have come out in support of a mandatory ceiling on greenhouse gas emissions. Bank of America said it would invest $20 billion in sustainable projects over the next decade.

Just take a look at the commitments. Are any of them going to affect the corporate bottom line?

Nope.

Yeah, Bank of America is dipping into its deep pockets, but its advertising for Christ's sake. And a shrewd accountant will probably write the expense off as such.

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