U.S. businesses could save $780 billion dollars over 10 years by reducing greenhouse gas (GHG) emissions by only 3 percent, according to a new report by the World Wildlife Fund and CDP. A 3 percent reduction would help U.S. corporations achieve a 25 percent reduction against 1990 emission levels by 2020.
It is widely recognized that a global temperature increase of 2 degrees Celcius could result in catastrophic climate effects. By committing to a minimum 3 percent reduction, companies can make a considerable difference in the time it will take to reach this climate threshold.
Managing, reporting, and reducing emissions help companies mitigate climate risk, and the report finds that investing 3 to 4 percent of annual capital expenditures in low-risk, profitable carbon reduction projects would allow companies to realize savings as a result.
The report also includes a carbon target and profit calculator to provide guidance for companies interested in making the 3 to 4 percent climate commitment.
Most of the world’s largest companies have already set reduction targets or made renewable energy commitments. More than 1400 U.S. companies are recognized by the EPA as Green Power Partners, voluntary purchasers of renewable energy in the form of renewable energy credits (RECs), a number that continues to grow.
For more information on renewable energy credits, greenhouse gas emissions, and climate impact reduction strategies, we invite you to contact us.