May 21, 2008 - Dow Chemical VP of sustainability Neil Hawkins says the company has recouped its ten-year, $1 billion energy-efficiency investment five times over thanks to lower utility costs and new revenues from green products, CNet reports.

Speaking at the Dow Jones Environmental Ventures conference this week in California, Hawkins outlined Dow's success in cutting energy costs and generating new business from ventures in clean technology and green chemistry.

Much of Dow's success has come from developing new products that help building owners reduce boost facility energy efficiency and reduce carbon dioxide emissions. For example, the company has introduced a new Styrofoam insulation that earned an Energy Star rating from the U.S. Environmental Protection Agency. Dow is currently working on bringing down the cost of solar panels for roofing and siding, according to Hawkins.

"The single most important thing we can do is improve CO2 [emissions] in buildings...where people are doing a lot more insulating," Hawkins said. "This trend of sustainability...will impact our profit for the next 20 years."

Last May, Dow joined the U.S. Climate Action Partnership, a coalition of businesses calling for the federal government to enact national legislation to achieve significant reductions in greenhouse gas emissions.

But Dow still has a ways to go in other areas. The company was recently listed on the Toxic 100, the University of Massachusetts's annual list of the largest corporate air polluters in the U.S.

For a look inside Dow's campaign to improve public perceptions of the chemical industry, read our interview with Julie Fasone-Holder, the company's chief of marketing.