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The economy may be down, but your green initiatives should be up and running. Companies that use the recession as an opportunity to align their green goals with business objectives and make targeted investments in green initiatives will stand the best chance of creating sustainable enterprise-wide value as the economy rebounds.

Properly managed, green initiatives can help companies lower their overall expenses, and keep their business design efficient. In addition, there is opportunity to edge out competitors as new regulations come into play. Successfully implementing a green agenda will mean that a company has created synergies between sustainable business efficiencies and environmental compliance.

While companies should maintain their green agendas, it is critical that they assess all initiatives and make targeted investments to ensure the highest possible returns without adding to overall costs. But before decisions and investments are made, senior leadership must be able to clearly state the green agenda’s current status, the short- and long-term goals of the portfolio, and how the green strategy aligns with the business’ strategy.

To help address the issue of being green during an economic downturn, Diamond Management and Consultants developed the Green Maturity Scale (see chart), a framework for companies to see where they stand in terms of compliance and how they can take advantage of high-ROI green opportunities. The ability to maintain an upward trend on the Green Maturity Scale consists of understanding the current state of green, identifying opportunities and collaborating with executive leadership to align recommendations with the overall business strategy.

Companies that remain ahead of the Green Maturity curve by managing their green initiatives as singular portfolios and that maintain flexibility in the face of new requirements stand the best chance of increasing profitability and gaining a competitive edge.

The most forward companies whose green agendas have delivered bottom-line benefits treat them as integral parts of sustainable overall business strategies rather than simply social responsibility or elements of broader corporate citizenship.

In the best cases, innovative executives are using their green portfolios to add value to their companies’ bottom lines. A major consumer packaged goods company announced last year a goal of reducing greenhouse gas emissions, energy use, water use and waste per metric ton of food 15 to 20 percent by 2015 (using 2005 baselines). In the process, the company will save millions of dollars in raw material and energy costs.

Early adopters and mature organizations have established long-term plans, including clearly defined enterprise-wide strategies, metrics, and governance structures. They have achieved benefits through quick hits, have wide-reaching programs in different areas of their supply chains, and create quantifiable reports on the progress of initiatives.