On Earth Day 2013, Ann Taylor parent company Ann Inc. (NYSE:ANN) announced that across nearly 400 stores in North America, it had cut its "carbon footprint" by 20% -- twice its objective, and more than two years ahead of schedule.

But this company's not only doing its part to save the Earth -- it's also saving money on energy costs, boosting earnings and and helping to create for itself a very attractive P/E multiple. Fool contributor Rich Smith explains how Ann Inc. is doing well by doing good -- and could be good for your portfolio.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Ascena Retail Group and owns shares of General Electric. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.