Global climate talks underway in Paris have been built on a foundation of more than just national government commitments. “Sub-national actors,” such as cities, states, and companies, have been making their own climate commitments ahead of Paris, and that trend continues this week.
Just today, in a full-page Wall Street Journal ad coordinated in part by C2ES, more than 100 companies announced their support for a fair and strong global climate agreement and pledged to ensure a transition to a low-carbon, energy-efficient U.S. economy. These companies join a growing chorus of corporate voices for climate action. For example:
- More than 150 companies, from Alcoa to Xerox, have signed the American Business Act on Climate Pledge and committed to reducing their environmental impact through steps such as cutting emissions in half, reducing water usage, and running on 100 percent renewable energy.
- Bill Gates and other leading business entrepreneurs launched a multibillion-dollar public-private partnership to fund research and development of innovative clean energy technologies.
- Last week, 78 global CEOs signed an open letter calling committing to action and calling on governments to implement carbon pricing.
- This fall, 14 energy, tech and manufacturing companies with more than $1 trillion in revenues signed a statement organized by C2ES supporting a balanced and durable international agreement.
Why do more and more businesses care about climate change?
Key Insights on Business State and City Collaboration for Climate Resilience
C2ES held a Solutions Forum workshop focusing on opportunities for collaboration on climate resilience in November 2015 in Detroit, Michigan. More than 40 business leaders, state and city officials, non-profit organizations, and other experts shared their experiences addressing climate change impacts and enhancing resilience. Discussion focused on the role each stakeholder group can play in planning for climate change. This paper summarizes the key insights of the meeting and areas of focus moving forward.
More than 300,000 electric vehicles (EVs) are already on the road in the United States, but to ramp up adoption of this technology, consumers will need more access to charging beyond their home or office.
C2ES has identified business models that, combined with near-term public support, could boost investment in publicly available EV charging and expand the environmental benefits of EVs.
The business models are detailed in a new C2ES publication, Strategic Planning to Implement Publicly Available EV Charging Stations: A Guide for Businesses and Policymakers. The guide draws on research from a two-year initiative in partnership with the National Association of State Energy Officials (NASEO) to explore innovative financing mechanisms aimed at accelerating the deployment of alternative fuel vehicles and fueling infrastructure.
Strategic Planning to Implement Publicly Available EV Charging Stations: A Guide for Businesses and Policymakers
Can you feel the momentum?
With negotiators meeting in Bonn this week and only six weeks to go until Paris, the business community is not only stepping up to the plate, but is swinging for the fences on its support climate action (Yes, it’s playoff season, so baseball is also on my mind).
This week’s announcement that 69 companies have joined the White House’s American Business Act on Climate Pledge brings the total to 81. Many of these companies pledging to reduce their emissions, take other actions to tackle climate change and support a strong international agreement include a number of members of our own Business Environmental Leadership Council: Alcoa, Bank of America, GE, General Motors, HP, IBM, Intel and PG&E. Together the 81 companies represent a combined $3 trillion in revenue and 9 million employees.
And last week, 14 companies with a combined revenue of $1.1 trillion and 1.5 million employees signed a statement organized by C2ES in support of a Paris climate agreement, that began “Paris presents a critical opportunity to strengthen efforts globally addressing the causes and consequences of climate change, and to demonstrate action by businesses and other non-state actors. ”
But these companies aren’t just talking about climate change; they’re doing something about it. They’re making commitments to reduce their own emissions, and some are even committing to use 100% renewable energy through the RE100 campaign. They are also working both internally and with communities and cities to increase climate resilience.
Now it’s time to take this enthusiasm and put it to work. We know there is growing support for a strong agreement in Paris, and hopefully that’s what we’ll get in December. But that’s just the first step—we’ll need to ensure that countries live up to their commitments, and back here in the United States, we’ll be working with businesses, states, and cities to build partnerships that harness the power of the markets to reduce emissions, develop innovative financing for clean energy and strengthen our resilience to climate impacts.
We have some real momentum going now. Let’s make the most of it.
Cities and counties are increasingly emerging as climate leaders, becoming laboratories and incubators for climate solutions. These solutions take a fresh approach to emerging local challenges, and could drive progress at a larger scale.
Here are two key ways cities are stepping up:
· Local governments are creating an invaluable knowledge base for efficiency and sustainability efforts.
To reach your destination, you have to know where you are starting from. That’s why it’s so important that cities are taking advantage of ever-improving data collection and analytical capabilities to become the providers of rich databases of energy and water use in their jurisdictions.
Philadelphia's Energy Benchmarking program requires large commercial buildings to disclose their energy use. As a result, the city has a baseline of energy usage by nearly 2,000 buildings across multiple sectors. By sharing this data with building owners and energy managers, the city is focusing more attention on saving energy. And by sharing building data online with potential tenants, the city hopes to create a market for efficient buildings.
A similar program in New York City has had promising results. The disclosure policy corresponded with energy savings of nearly 6 percent - worth more than $260 million.
The fastest growing family of greenhouse gases – extremely potent hydrofluorocarbons (HFCs) -- aren’t going to be growing as fast in the future.
Today’s White House announcement of voluntary industry commitments to reduce hydrofluorocarbons (HFCs), along with new regulations put in place over the past year, have created game-changing shifts toward more environmentally friendly alternatives.
Developed as substitutes for ozone-depleting chlorofluorocarbons (CFCs) in the late 1980s, HFCs have become widely used worldwide in refrigerators, air conditioners, foam products, and aerosols. While they don’t contribute to ozone depletion, HFCs can trap 1,000 times or more heat in the atmosphere compared to carbon dioxide. This means they have a high global warming potential (GWP).
The amount of these compounds produced around the world has been growing at a rate of more than 10 percent per year. Unless controlled, emissions of HFCs could nearly triple in the U.S. by 2030. Strong international action to reduce HFCs could reduce temperature increases by 0.5 degrees Celsius by the end of the century, a critical contribution to global efforts to limit climate change.
The 16 voluntary industry commitments that make up today’s announcement highlight the innovation and leadership U.S. industry is showing in meeting the challenges of addressing climate change. These actions build on 22 commitments made by industry at a White House event just a year ago.
Download the infographic as a PDF
Increased extreme weather and climate-related impacts are imposing significant costs on communities and companies alike. While some businesses are taking steps to assess and address climate risks, many face internal and external challenges to building climate resilience.
In a new report, Weathering the Next Storm: A Closer Look at Business Resilience, released at Climate Week NYC, C2ES examined how major global companies are preparing for climate risks, and what is keeping them from doing more.
C2ES reviewed public disclosures of S&P Global 100 companies, conducted in-depth interviews, and held workshops with business leaders, government officials, academics and other stakeholders. Key findings include:
Major companies recognize and report climate risks.
We found 91 of the world’s largest 100 companies see extreme weather and other climate impacts as business risks. Business leaders see climate risks firsthand – in damaged facilities, interrupted power and water supplies, disrupted supply and distribution chains, and impacts on their employees’ lives.
Most (84 companies) discussed climate risk concerns in CDP questionnaires. Fewer companies did so in their sustainability reports (47) or financial filings (40).
More companies are assessing their vulnerabilities.
The vast majority of companies rely on existing risk management or business continuity planning to address climate risks.
Many see climate change as a “threat magnifier” that exacerbates risks they already know and understand. This lens puts climate change into a familiar business context, but companies could overlook or underestimate the threats they face.
Weathering the Next Storm:
September 22, 2015
By Katy Maher and Janet Peace
Infographic with key takeaways
As we saw once again in 2014—the warmest year globally on record—increases in extreme weather and other climate-related impacts are imposing significant costs on society. Even as governments, companies and communities strengthen efforts to reduce emissions contributing to climate change, they are awakening to the urgent need to address growing climate impacts. Across the United States, governments at all levels are taking steps to strengthen climate resilience. Simultaneously, a growing number of companies are recognizing extreme weather and climate change as present or future business risks. For many companies, these rising risks extend well beyond the “fence line” to critical supply chains and infrastructure, and can be effectively managed only in partnership with the public sector.