Environmentalism leading to profits for some companies
May 31, 2011
People who like cashmere sweaters may be interested to know that there is something even "finer than the softest cashmere," according to a new report from Time Magazine.
Time is referring to clothing made out of vicuña hair. The vicuña is a small animal that resembles a llama and lives in Peru. However, it was an endangered animal that was facing extinction. Thus, a company called Loro Piana decided to first save the vicuña, and then ensure that vicuña hair be sheared like the coats of sheep. In this way, Loro Piana made a profit and also made sure that vicuña's were saved.
"A lot of companies start out with the environment as a way to look good. Then they find out there are both reputational and financial gains," Phil Radford, executive director of Greenpeace USA, told the news source.
In the U.S., more than 200 animal and plant species are on a waiting list for federal protection under the Endangered Species Act, according to a recent report from the New York Times. There are about 1,400 endangered species currently listed on the ESA.