The research question addressed here is whether the semantic value implicit in environmental terms in an activity description text string, can be translated into economic value for firms in the construction sector. We address this question using a relatively new applied statistical method called Latent Dirichlet Allocation (LDA). We first identify a satellite register of firms in construction sector that engage in some form of environmental work. From these we construct a vocabulary of meaningful words. Then, for each firm in turn on this satellite register we take its activity description text string and process this string with LDA. This