A new study published as a collaboration between Ceres, WWF, Calvert Investments and David Gardiner & Associates has revealed that America’s largest companies are leading the way in greenhouse gas emissions reductions. The study, entitled Power Forward, How American Companies Are Setting Clean Energy Targets and Capturing Greater Business Value, found that 53 of the Fortune 100 companies have collectively reduced CO2 emissions by more than 58 million metric tons yearly. Their efforts have saved them over $1 billion.
These figures demonstrate that GHG reductions are more than just a side program for these companies. Reducing GHG emissions has become a central part of their corporate culture and strategy. This is demonstrated by the cost cuts that they have been able to achieve. For example, UPS, Cisco Systems and PepsiCo have all individually saved over $150 million through their renewable energy and efficiency programs.
Despite this positive message, the research also uncovered that while the largest companies are achieving notable emissions reductions and savings; this is generally not the case for smaller companies. In the Fortune 250 to 500 category, only 30% of companies have emissions reductions targets in place at all. More research is needed to determine the state of GHG emissions reductions outside the Fortune 500 group. However, based on the trend revealed in this study, large companies are leading the way while the rest of America’s private sector lags far behind.