According to a new report, a leading group of major companies – including Hilton, H&M, and Ultratech Cement – have saved $131 million and cumulatively averted the carbon dioxide emissions equivalent of running 134 coal-fired power plants for a year by improving their energy productivity.
EP100 is a global corporate initiative led by The Climate Group in partnership with the Alliance to Save Energy that aims to augment the business case for increasing energy productivity – achieving higher economic output per each unit of energy consumed. Alongside the deployment of renewable power and electric vehicles, making smarter use of energy is a practical step companies can take to lower their operating costs and emissions, future-proof their business, and demonstrate climate leadership.
The report, ‘Smarter Energy Use: Businesses Doing More With Less,’ found that the companies that submitted financial data generated $131 billion USD in collective financial savings from energy efficiency measures and avoided more than 522 million metric tons of carbon equivalent in total since their respective baseline years.
Helen Clarkson, CEO of The Climate Group, said the progress demonstrated by EP100 companies to date is a proof point of energy productivity’s role in decarbonization.
“Doing more with less energy can unlock faster decarbonization of the global economy – and the private sector holds the key. From the boiler room to the boardroom, smarter energy use benefits a business at every level, helping to meet the growing expectations of shareholders, customers and employees while generating capital that can be reinvested in clean growth.”