07/25/2008 12:54 PM

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Interface, Ormat on Verge of Joining SB20 Core

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With the release of the 2008 Sustainable Business 20 List (SB20), two firms stand at the threshold of joining the "Core List" of companies, knighted for their continual leadership on the path towards a sustainable society.

Green building company Interface, Inc. (Nasdaq: IFSIA) and renewable energy company Ormat Technologies, Inc. (NYSE:ORA) have been named to the SB20 List in each of the last three years. If they are nominated a fourth time in 2009 they will join an elite list of companies with SB20 Core status, admired internationally not only for their ongoing sustainability initiatives, but also for their strong management and balance sheets.

The list of Core companies, who have made the SB20 list at least four times, includes:

• Canon (NYSE: CAJ)
• Electrolux (ELUXA.ST)
• Green Mountain Coffee Roasters (Nasdaq: GMCR)
• Herman Miller (Nasdaq: MLHR)
• Novozymes (NZYM.CO)
• Precious Woods (PRWN.SWX)
• STMicroelectronics NV (NYSE: STM)
• Vestas Wind Systems (VWS.CO)
• Whole Foods Market (Nasdaq: WFMI)

Before Green Was Golden

The "Green" movement has taken off over the last two years. Whether it's primarily a marketing trend with an expiration date or a permanent shift in corporate sensibility has yet to be seen. But one thing is for certain: the list of contenders for SB20 recognition has grown.

When Progressive Investor--a green investment information service of SustainableBusiness.com--first attempted to develop a list of 20 outstanding companies seven years ago, the leaders were easy to pick out from the crowd--and they were mostly large corporations based in Japan and Europe.

Companies like Canon (Japan) in electronics and Electrolux (Sweden) in appliances were early adopters in their respective industries and were already far along in analyzing the lifecycle impacts of their products. Swiss Re (Switzerland) led the charge in the insurance industry, recognizing the dangers of climate change early on.

In the U.S., furniture manufacturer Herman Miller had eliminated endangered wood from its products as well as waste to landfills, and Chiquita made news when it decided to shine up its tarnished image by certifying banana plantations both environmentally and socially.

There were few smaller, green companies on the public markets seven years ago. Whole Foods, United Natural and Green Mountain Coffee were tiny, rapidly growing stocks at that time, as was Horizon Organic, which was bought by Dean Foods. These organic/natural foods companies were the first green industry to gain acceptance.

Over the past few years, the movement has spread to other industries with more companies following suit, and it has become more challenging to decipher which companies have made the most progress towards and the deepest commitments to sustainable business practices-a good sign indeed.

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