By John C. Drachman, Financial writer
As going green becomes more of a selling point for tree-hugging capitalists, Barron’s noted recently that a skeptical public is looking beyond public relations to a firm’s real accomplishments.
Advisolocity’s D. Bruce Johnston noted that one of the positive virtues of social media networking, for example, is its greenness. “We’d rather use electrons in our posts than chop down another tree and send a piece of paper.”
The stats back this up: 72% of respondents from a recent Mintel study said investors “feel good about working with a financial services firm that invests in companies focused on eco-solutions.”
Nearly 50% of respondents, though, said they are suspicious that many firms are playing the green game to burnish their corporate image. Another 45% said they would like to see institutional investors provide monetary or other incentives to businesses that take a stake in renewable energies.
Sincerity and action may be the keys to overcoming consumer doubts, the report concluded. More about Mintel’s report, “Green Marketing in Finance 2011,” can be found at Barron’s article on green advertising.
John Drachman, Social Media Memo, can be reached at firstname.lastname@example.org