P&G keeping costs down during green transition

|By:, SA News Editor

Procter & Gamble (PG) is trying to balance its green initiative while securing as much profit as it can, as it caters to global sustainability while cutting company-wide costs.

This spring, P&G promised to begin monitoring its entire palm oil supply by 2015, cut the water content in laundry detergent by a quarter (saving 45M gallons of water annually) by 2018, and rid oil from dirty suppliers by 2020. Procter & Gamble also joined with Wal-Mart (WMT) in the $100M Closed Loop Fund, which helps U.S. cities boost recycling programs.

To balance its green initiative, the company is cutting 3,000 office jobs over the next two years, selling its pet food business, and is looking to cut $10B from costs by 2016.