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Here are four of Andrew's going green strategies in an uncertain economy:
1. Cut waste - Waste reductions can free up cash while generating environmental benefits. Wal-Mart is calling on suppliers to reduce packaging by 5 percent in the next five years and estimates that this could save $3 billion in transportation costs through 2013. Wal-Mart suppliers are also expected to save $8 billion from reduced material and transportation costs. Verizon recently moved more than 3 million customers to paperless billing and saved $8 million in paper and administrative costs. It also saved another $2.7 million by moving its payroll, training, and HR systems online.
2. Invest in efficiency - The McKinsey Global Institute recently published a report that says economic uncertainty can drive more investment in energy efficiency because efficiency costs less than meeting demand through new supplies.
3. Design highly efficient products and processes - More efficient systems require less money than traditional systems, and that’s always a good thing during a financial crisis.
4. Spend time rather than money - During a downturn, companies may have more time to plan and think ideas through, as well as including participants all along the value chain. This way, companies can avoid difficulties and do-overs that cause costs to escalate.