Sometime in the near future, you could be choosing a business or restaurant based on their carbon footprint, or rather their contribution toward clean energy that benefits exchange traded funds (ETFs).
The latest proposal for Los Angeles businesses is a green-business certification program. The new program about to get funding in the county of L.A. is similar to programs the Bay Area and Northern California counties lauched in 1997. Now 800 businesses in that area have been certified, reports Cynthia Zwahlen for The Los Angeles Times. San Diego also has a program.
Restaurants are the prime target right now, and the $150,000 grant funded by the Los Angeles Department of Water and Power will get businesses of any size to participate. For example, a restaurant should recycle cardboard, paper, glass, metal and plastics but could choose whether to collect food waste for off-site composting.
They would be required to replace older “T-12” fluorescent lighting as part of choosing seven ways to save energy from the online checklist. They’d have to operate dishwashers only when full, soak pots and pans instead of cleaning them with running water and serve guests drinking water only when requested. A small business can participate for as little as $500.
Los Angeles has posted the criteria for businesses to earn their green stamp at www.environmentla.org. Most of all, the program is good for morale and will boost business for the long run. This could be a trend that begins here in California and will catch on across other states, reducing consumption for the United States at large.
ETFs focused on this sector:
- PowerShares Wilderhill Progressive Energy (PUW): down 52.3% year-to-date
- Market Vectors Global Alternative Energy (GEX): down 66.9% year-to-date
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.