|August 14, 2006|
Study Asks if Green Chemistry Drives Profits . . . or Just Good PR?
|New Jersey, USA (Greenbiz) - Initially motivated by government regulations and public relations concerns, more companies are now turning to "green" chemistry as a way to increase the bottom line. A newly proposed market study from Kline & Company will seek to quantify this development in the chemicals industry. |
"Green chemistry has taken on a life of its own and is advancing far beyond the minimum legal requirements," says Gillian Morris, industry manager of the Chemicals & Materials practice for Kline & Company's research division. "Some chemical companies are starting to find that environmentally friendly practices and profits aren't always mutually exclusive, and that green chemistry has actually helped to increase profits in some instances."
The concept of green chemistry -- the use of chemical design for pollution prevention -- has grown out of environmental legislation like the Pollution Prevention Act of 1990, which established a national policy to reduce or prevent pollution at the source when feasible. This directive shifts the responsibility to the chemical designer to be responsible for considering what will happen once the chemical is in use.
The EPA has listed 12 principles of green chemistry, encouraging companies to prevent waste and to design chemicals with little or no toxicity that break down to innocuous substances after use. The agency also encourages the use of in-process real-time monitoring and control during syntheses to minimize or eliminate the formation of byproducts.
Morris points to companies such as Rohm and Haas, Codexis, Lonza, and S.C. Johnson as early adopters of these principles and leaders in the green chemistry field.
"The obvious benefits of green chemistry are good PR and the avoidance of fines for pollution offenses, but there's little industry data to indicate really to what extent companies are benefiting financially," says Mitch Halpern, director in Kline's Chemicals and Materials consulting practice. "By knowing exactly how green chemistry practices will affect the bottom line, companies can then make decisions about material, equipment, and technology costs and identify opportunities to make substantial improvements in their production processes."
Kline's study will focus on three aspects of green chemistry: