The Carbon Disclosure Project's fifth annual report indicates that FT500 companies are beginning to take renewable energy and energy efficiency seriously.
New York, September 24, 2007
The Carbon Disclosure Project, which acts as a secretariat for a collaboration of over 315 institutional investors with over $41 trillion in assets under management, launched its Fifth annual report based on the responses from the FT500 largest global companies. The report revealed that FT500 companies are beginning to take renewable energy and energy efficiency seriously.
The fifth annual report provides details on the actions that FT500 companies are taking to combat climate change. This year's report had some additional questions regarding the use of sustainable energy and the role that energy efficiency played in corporate carbon reduction strategies.
The two questions posed by CDP found that 34% of respondents reported purchasing a portion of their energy from renewable sources. Companies using renewable energy were primarily in carbon intensive industries (utilities/mining) or consumer facing industries such as retail and banking.
"Companies are recognizing the role that sustainable energy and energy efficiency can play in lowering dependence on carbon-based fuels" stated Paul Dickinson, CDP CEO.
In the CDP5 report Anheuser-Busch replied that they operate Bio-Energy Recovery systems at ten of their breweries, where industrial wastewater is used to produce biogas that in turn is providing up to 15% of the plant's fuel costs.
Energy efficiency was stated as both an economical and environmental method to reduce carbon emissions. Nike's response stated "we see value in reducing energy use, both from the environmental and cost-savings perspective. We take the savings and plug them back into our efficiency efforts." Nike's experiences were echoed by 3M who have reduced energy use indexed to net sales by 27% over the past five years.
Marianne Osterkorn, International Director of the REEEP stated "This year's CDP5 report is showing that companies are beginning to take seriously the role that energy efficiency and renewables can play. We hope that more sectors embrace clean energy and energy efficiency as part of their future carbon reduction strategies."