Clean energy is becoming “business as usual” for many companies as they save money and reduce emissions, according to an analysis of America’s largest corporations.
Of the 53 Fortune 100 companies that reported their energy targets to CDP, all saved at least $1.1 billion annually by cutting emissions and using clean energy. In 2012, these companies reduced emissions by 58.3 million metric tons of CO2, equivalent to retiring 15 coal plants.
Nearly half of Fortune 500 companies currently have targets to reduce greenhouse gases, increase energy efficiency, or use more renewable energy. The report featured the sustainability efforts of many Business Forward member companies:
- AT&T set a target to add 5 megawatts of renewable energy and ultimately added 7 megawatts.
- Lockheed Martin surpassed its target of reducing emissions by 25 percent from 2007 levels by 2012, with a 31 percent reduction.
- Pfizer achieved a 25 percent reduction from 2007 levels in GHG emissions, beating its goal of a 20 percent reduction.
- Wal-Mart set a 20 percent emissions reduction goal for 2012, and achieved it a year early.
- Verizon set a new target to produce 10 megawatts of renewable energy by the end of 2014.
And many of those same companies are seeing large annual savings from energy reduction, including the following member companies:
- AT&T: $41.5 million
- Google: $1.1 million
- Lockheed: $7.1 million
- Microsoft: $1.0 million
- Pfizer: $10.0 million
- Target: $6.6 million
- Verizon: $16.9 million
- Wal-Mart: $71.2 million
As the report notes, “What’s becoming clear is that companies don’t have to choose between the bottom line and addressing climate change.”