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Top companies shine in climate stakesPosted: 05 Dec 2005
The Fortune 500 company, Dupont, has come top of awards made this week for companies who have done most to reduce their carbon emissions..
The Low Carbon Leaders Awards, ranging from business to the individual and from the local to the global, give recognition of emission reduction and leadership on climate change over the last ten years. Sponsored by The Climate Group, they were published today in Business Week magazine.
DuPont, is recognised for its outstanding record on absolute greenhouse gases (GHG) reduction. It achieved an a 72 per cent reduction of Greenhouse Gas (GHG) between 1990 and 2003 and has saved $2 billion since 1990 by reducing its energy consumption.
Meanwhile, the small town of Woking in the UK beat off competition from many larger cities. Its award is in recognition of its 40 per cent reduction of energy consumption in municipal buildings on 1990 levels in 2001. Woking reduced CO2 emissions 77 per cent on 1990 levels in 2004 and saved ₤5.4 million in municipal energy and water bills since 1990 as a result.
�These awards are a clear recognition of how important leadership is in tackling climate change", said Dr Steve Howard of The Climate Group. �These are the best examples of companies, cities, states and individuals who have taken a dynamic and pro-active approach to the issue. They have seen that the solutions to climate change are possible, available and cost effective. Our global future will be driven by a low carbon economy, and those already embracing this future are reaping the benefits.�
Business Week, Climate Group, and a panel of judges compiled the following top ten ranking, based on total reduction of greenhouse gases (GHGs). The results are given relative to company revenues, and management's leadership on environmental issues over the past ten years:
Company: 2004 Sales
$ Billions Metric Tons % Reduction
1 DuPont $27.5 11 million 72
Reduced energy consumption 7 per cent below 1990 levels, saving more than $2 billion - including at least $10 million a year by using renewable sources.
2 BP $285.1 12.8 million 10
Reached its 2010 GHG reduction target in 2001. Increased valuation by $650 million through improvements in operating efficiency and energy management.
3 Bayer $36.7 4.9 million 63
Boosting energy efficiency also avoided $850 million in investments that otherwise would have been required, because production grew 22 per cent.
4 BT $18.5 1.6 million 71
Low-carbon and renewable sources provide 98 per cent of its electricity in Britain, saving $1.1 billion. Adding 38 per cent reduction in vehicle emissions almost doubles savings.
5 Alcoa $23.5 8.9 million 26
Slashed emissions of perfluorocarbon (PFC) gas from aluminum smelters by 80 per cent. Expects annual cost savings to reach $100 million next year.
6 IBM $96.3 1.7 million 38
Tonnage cuts are from just higher energy efficiency. The reduction triples if other CO2 and PFC cleaning-solvent emissions are included. Total savings: $791 million.
Paper $1.9 280,000 61
Substantially lower CO2 emissions stem from efficiency initiatives that have netted savings of more than $17 million over the past 10 years.
electronics $9.5 850,000 50
Since 1994, CO2 emissions have been progressively curtailed with better energy practices. Efficiency savings now exceed $100 million a year.
9 3M $20.0 1.85 million 12.8
By cutting energy consumption, 3M has saved more than $190 million since 1990.
10 Iberdrola $12.0 3.9 million n.a.
Tonnage was avoided with renewable fuels, but total emissions grew in 2004. Biomass investments - $12.7 billion since 2001 - will yield 5,500 megawatts in 2008.
For more information on the awards see: Business Week