The Connecticut Business and Industry Association released a report Wednesday that suggests about 66 percent of the businesses it surveyed are “going green.”

The survey, which received a response from 434 out of the roughly 5,000 businesses that received it, was sponsored by UIL Holdings Corporation in partnership with CBIA — in an effort to gauge companies’ commitment to environmentally-friendly or sustainable practices.

About 90 percent of the companies that reported involvement in sustainability practices overwhelmingly cited energy efficiency or conservation measures among their “green” initiatives. Other initiatives cited in the survey were waste management or reduction (77 percent) and purchasing recycled materials (74 percent).

Despite the survey’s relatively low response rate, Pete Gioia, vice president of CBIA, said in a statement that he is encouraged by the data the survey reveals.

“The high number of companies involved in sustainability shows how important this is to Connecticut’s business community. The government can advance the greening of business operations by offering targeted incentives, helping offset capital investments, and lowering the cost of doing business,” Gioia said in a press release.

The 66 percent figure is up from CBIA’s 2007 survey, which indicated less than half of businesses took on sustainability measures. However, the number has receded from the 74 percent high reported by CBIA in their 2010 survey.

“Although a battered economy and a back-to-basics ethic are partly to blame, skepticism about the business value of sustainability persists,” the survey released Wednesday reads. “Businesses need to be able to answer some fundamental questions: Will going green save or cost us money? Increase or decrease our profit margins? Grow or shrink our customer base? Business cannot manage what they can’t measure.”