Getting Paid To Drive Green

Some Companies Offer Incentives To Buy Hybrids, Carpool, Or Be Earth-Friendly

(CBS)  When it comes to a carbon footprint, some of the biggest feet on the planet belong to U.S. businesses and industry.

But some are doing surprising things to make a difference, CBS News correspondent John Blackstone reports.

Peter Magnani is test-driving a gas-electric hybrid because the bank he works for will help him buy it.

"The Bank of America will give me a $3,000 cash rebate if I buy a hybrid car," Peter Magnani, who works there, said.

In the past two years the Bank of America has given 1862 employees $5,586,000 to buy fuel-efficient hybrids. That has saved an estimated 1,800 tons of carbon emissions.

"I feel good about working at a company that has that consciousness and provides those benefits," Magnani said.

For business, going green is a way to attract and retain employees.

"These days, people want to work for a company that they respect, that they think is doing the right thing, that they think is part of the solution," said Joel Makower, editor of Greenbiz.com.

So, Bryan Cole is happy getting 40 miles to the gallon in a car that burns biodiesel.

What does he burn?

"Waste vegetable oil that's coming out of restaurants," Cole said.

His employer, energy bar-maker Clif Bar, helped him buy it.

"I received a $5,000 forgivable loan," he said.

And it will be totally covered if he stays at the company for five years.

That perk has put plenty of fuel-efficient vehicles in the company parking lot. Carpoolers and bike commuters get bonuses, too.

"It's just another great way that they're getting everybody psyched about thinking outside the box on how they wanna commute," said Cliff Bar employee Ryan Mayo.

That also includes how they can save energy at home. Shawna Sadowski is getting $1,000 to buy insulating window blinds.

"They prevent up to 75 percent of heat loss, as well as prevent heat from coming in," Sadowski said.

Usually we think business is there to make money. But this costs money.

"It does cost money, but we're a successful business," said Cassie Cyphers of Cliff Bar. "We're still making money, so it's working!"

It's not just business.

The American Jewish Committee gives employees cash to buy fuel-efficient cars. And the county of Los Angeles is telling its 100,000 workers its negotiated discounts for them on hybrids.

A lot of small steps … to shrink that big carbon footprint.

[airport1207]

I wonder how much of carbon emissions can be saved if Microsoft do the same thing as BOA does.

[termtex01]

I wonder how many of those hybrids or green cars burn bio-fuel and raise the price of corn even higher?

[rf35]

Every little bit helps. I would be quick to get a hybrid if there were some sort of incentive program offered by the military. Unless that happens, I''m going to wait until hydrogen fuel cell vehicles and infrastructure become established here. I should be ready to buy in about 3-5 years, not more than 7.