Yes it's true. I had to read it twice to be sure but as my colleague Seth Leitman the Green Living Guy always says, going green is profitable.

Going green can be profitable – that is the conclusion of multiple studies that have looked at the financial outcomes of corporate efforts to improve their environmental impacts. By reducing emissions, packaging materials, and waste, Walmart, Unilever, and many other companies have been able to reduce their costs and improve their environmental impact. This has led some to conclude that the best way for corporations to serve society and to operate sustainably is to focus on reducing costs and maximizing their profits.

I think that this is a flawed conclusion. The alternative to this profit-above-all approach is a sustainably effective approach that focuses on the triple bottom line of people, planet and profit. Organizations that practice and integrate sustainability thinking put it into all of their operations – they do not just work on what leads to profits. They integrate sustainability into their very DNA, and everything proceeds from that. These organizations measure themselves in all three areas and structure and design their operations to perform in ways that have a positive impact on all three.

For the entire story: http://www.forbes.com/sites/edwardlawler/2012/03/15/sustainability-it-should-be-about-more-than-the-bottom-line/