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Jeff Marks is executive director of ClimateWork Maine
Updated: 6 hours ago
How To
How to cut costs while going green
By Jeff Marks, ClimateWork Maine
Workforce shortages, lack of affordable housing and child care, taxes, tariffs and trade restrictions top the list of immediate business concerns.
However, climate change should not be overlooked as an urgent priority, even though the devastating economic toll of the 2024 hurricane season, western wildfires and 2023-24 winter storms that caused $90 million in damage in Maine may seem like distant events.
While urgency is always relative, one industry clearly views climate risk as an immediate operational threat: Insurance. Property insurers analyzing recent climate-related disasters recognize these are not isolated incidents. In response, they are withdrawing from high-risk markets, raising premiums and reducing coverage.
Businesses that ignore these market signals may find themselves uninsured — or severely underinsured — when the next climate-driven disaster inevitably strikes. To mitigate risk, they must continue and expand proactive measures.
'Smart business' examples
Despite shifting federal policies, business support for climate action remains strong in Maine. For many, it is simply smart business as usual.
In retail, Hannaford continues to reduce waste and minimize climate impact through its significant and innovative move away from plastic and single-use packaging to renewable materials in the products carrying its brands in its stores.
All 189 stores divert or donate all food at risk of going to waste — keeping food out of landfills. Efficiency projects like LED lights, night shades, doors on cases and state-of-the-art refrigeration systems have significantly reduced energy costs, while also reducing reliance on fossil fuels. It has expanded use of renewable energy by installing rooftop solar on 10 of its stores.
In financial services, Androscoggin Bank, in partnership with ReVision Energy, developed a solar farm in the Kennebec County town of Sidney and installed LED lighting in all branch locations, generating energy savings and adding jobs to the energy sector. The bank has also created a leading sustainable impact program, enabling clients to advance their environmental, social and governance goals by linking their bank deposits to loans made by the Bank aligning with the United Nation’s sustainable development goals.
In health care, MaineHealth's environmental sustainability program works across clinical and non-clinical departments to implement sustainability projects and engage staff in environmentally responsible practices.
Steps all businesses can take
Maine businesses can sustain climate momentum by focusing on the following areas.
Create public-private partnerships: Collaboration is crucial for climate resilience and renewable energy development. Maine must explore a broad alliance that includes businesses, environmental groups, citizen organizations, state officials, universities, and other networks to drive meaningful action.
Engage with policymakers: Businesses must actively shape energy and climate policies, emphasizing innovation, affordability, and job creation.
Invest in sustainable practices: Companies should scale their sustainable operations to align with the growing demand for clean energy and climate resilience. Sharing best practices, case studies, and innovative projects can promote both profitability and environmental responsibility.
Support innovation. Funding and implementing new technologies are key to reducing emissions and improving energy efficiency. Efficiency Maine has positioned the state as a leader in home electrification, demonstrating how smart investments drive clean energy adoption.
Pragmatic approach
Maine has established itself as a national climate leader, thanks to the ongoing commitment of its business community. The Efficiency Maine heat pump program has become a model for other states, inspiring a multi-state regional effort. The business community's economic perspective has been invaluable in shaping and implementing these initiatives.
This pragmatic approach can also support resilient supply chains, renewable energy, grid modernization and permitting reforms. As storm damage intensifies, investment in climate adaptation and infrastructure will only increase.
Through collaboration, policy engagement, sustainable investment and innovation, we can strengthen our economy while addressing one of the defining challenges of our time. Now more than ever, climate action is everyone’s business.
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