Many of The McGraw-Hill Companies’ businesses have green-related initiatives and products. McGraw-Hill Construction’s GreenSource magazine covers green building and design; S&P provides indices that measure companies according to their carbon efficiency for investors; McGraw-Hill Education is increasing its range of digital products and supports textbook recycling. This is all part of the reason Newsweek put us in their top 25 of over 500 companies in their Green Rankings. But enough bragging…okay, one more brag. Please?
Much like S&P’s indices help investors decide which companies to invest in based on green criteria, J.D. Power and Associates’ latest initiative helps consumers put their money where their heart is. JDPA’s green product ratings service aims to help consumers understand the environmental impact of the products they use.
There are more than 426 “eco-labels” (see picture to the right) being used in the market but it can be challenging to identify which ones are most useful, as many labels focus only on one particular area such as electricity usage or organic content. J.D. Power’s approach covers multiple attributes, focusing on a product’s complete lifecycle— from raw material extraction to consumer usage to product disposal.
Leveraging its expertise in consumer research, J.D. Power has created a prototype of a product rating system that is easy to understand– the higher the score the better the product is for the environment; the lower the score, the more harmful it is to the environment. To calculate the rating, J.D. Power surveys consumers to identify the most important attributes they feel a green product should possess, such as environmentally-friendly packaging and recyclability. Each attribute is then assigned an importance weight that helps J.D. Power clients identify which areas to focus on and address. Currently, J.D. Power is focusing on the household cleaning supplies market (i.e. detergents, kitchen and bathroom cleaners, etc.) and plans to expand into other categories such as household appliances in the future.
Additionally, J.D. Power is also working on a new Electric Vehicle Ownership Experience Study which will provide customers and manufacturers with insights into the electric vehicle market. Over the coming years, as vehicle technology evolves, electric vehicles will become an increasing interest to consumers and a top priority for auto-manufacturers. See some of the green auto-related info here.
In addition to its market leadership, J.D. Power has also made it easier for employees to be greener. Recently, J.D. Power’s Westlake Village, CA office installed two electric vehicle charging stations in partnership with Facilities that are available free of charge for employees.
Exciting stuff at J.D. Power. As consumers become more and more ecologically conscious in their buying habits, JDPA will be helping them sift through the information and make their decisions.