Oct. 2, 2007 Two out of three leading U.S. retailers say they have implemented environmentally friendly practices and, among the top 100 largest companies, the percentage jumps to 83%, according to a new survey of chief financial officers in the retail sector.

Corporate image was the main motivator for going green (54% of CFOs cited image among consumers and 13% cited image among shareholders). Just 15% of respondents said tax breaks or tax incentives were the greatest motivator.

Retailers are focused on the importance of implementing environmentally friendly and energy efficient business strategies, says Catherine Fox-Simpson, a partner at BDO Seidman LLP, which conducted the study. These businesses reap a two-fold benefit from pursuing green practices consumer appeal and substantial tax breaks.

Nearly half (44%) of those surveyed say they have upped their investment in green practices during the past two years. Sixty-two percent of the "top 100" have increased their green investments over the same period.