Chicago, USA September 25-26 2007

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Saving the climate won’t break the bank

Ambitious emissions reduction targets do not have to diminish corporate coffers. In fact, some companies are demonstrating that implementing technologies to reduce CO2 emissions not only increases public approval, but also provides a business advantage through increased efficiency. These companies are members of the World Wildlife Fund’s (WWF) Climate Savers initiative which is designed to assist companies in cutting their carbon carbon dioxide (CO2) and other GHG emissions.

The goal of Climate Savers is to face the reality of climate change risk by turning the necessity of reducing emissions into a business advantage, notes Matthew Banks, Senior Program Officer, Climate Change Program, WWF. ‘All our partners have demonstrated that voluntary emissions reduction action will not result in the bankruptcy of economies as is often the fear,’ he adds.

Banks, along with Climate Savers’ partner IBM, will be participating in the upcoming Corporate Climate Response event this September 25th & 26th in Chicago. Banks will be discussing why sustainability is strategic along with representatives from Wal-mart, Dow Chemicals, Kimberly-Clark, Environmental Defense and Context.

Matthew Banks, Senior Program Officer, Climate Change Program, WWF

What are some examples of how climate change action can lead to increased profits for companies?

By increasing efficiency of production, companies can reduce energy demand and thereby save money as their utility bills shrink. Money saved becomes part of net revenue and profits. Investing in renewable energy generation cuts reliance on fossil fuels and makes business more self sufficient.

Which companies have had the most success turning climate action into profits?

Perhaps the best example of how climate change action translates into profit growth is with IBM. IBM was one of the first members of the Climate Savers program and set emissions goals in 2000 to reduce GHG emissions by 4% associated with actual energy use. By 2005, annual energy use was down 5.7% translating into $115 million in energy cost savings, money that again becomes part of net revenue.

What are some of your Climate Savers partners doing to take global warming response to the next level?

Some partners have reached their original emissions reduction goals but are continuing to invest in new technologies and renewable energy to continuously cut their emissions. For example, despite Nike’s substantial growth in facilities (about 6% from 2001-2005) since it began the partnership with WWF, emissions have fallen to 13% lower than 1998 levels. Nike has achieved this through green power buys that supply about 20% of the energy used by its worldwide facilities.

Its European distribution center is now powered by 6 on-site wind turbines, and the majority of business travel is offset through partnerships with transportation companies. Nike has also removed all greenhouse gas emissions from its products, replacing the sulfur hexafluoride (SF6) used in the Nike cushioning system with climate friendly nitrogen gas.