Report: Fortune 500 Companies Accelerating Renewable Energy, Energy Efficiency Efforts
Despite efforts in Washington to sideline action on climate change, a growing number of Fortune 500 companies are taking increasingly ambitious steps to reduce their greenhouse gas (GHG) emissions, procure more renewable energy and reduce their energy bills through energy efficiency, according to a new report released today from World Wildlife Fund (WWF),Ceres, Calvert Research and Management (Calvert) and CDP.
Sixty-three percent of Fortune 100 companies have set one or more clean energy targets. Nearly half of Fortune 500 companies – 48 percent – have at least one climate or clean energy target, up five percent from an earlier 2014 report. Accompanying this growth is rising ambition, with significant numbers of companies setting 100 percent renewable energy goals and science-based GHG reduction targets that align with the global goal of limiting global temperature rise to below two degrees Celsius.
Findings from the new report, “Power Forward 3.0: How the largest U.S. companies are capturing business value while addressing climate change,” are based on 2016 company disclosures to CDP, which holds the world’s largest collection of self-reported corporate environmental data, and other public sources.
“American businesses are leading the transition to a clean economy because it’s smart business and it’s what their customers want,” said Marty Spitzer, World Wildlife Fund’s senior director of climate and renewable energy. “Clean energy is fueling economic opportunity from coast to coast without regard for party line. Washington policies may slow this boom, but these companies are making it very clear that a transition to a low-carbon economy is inevitable.”
Read more (Power Online)