Oil and gas companies are also taking steps to reduce their climate impact. Most have a baseline reduction goal, such as American Honda Co., which aims to reduce its emissions by 30 percent from their levels in the year 2000 by 2020. Power company Duke Energy just announced its goal to generate electricity with net-zero carbon emissions by 2050, but many companies are looking at even shorter-term approaches, with goals for 2030 or 2020. The trend toward aligning corporate goals with those of the Paris Agreement by going “ carbon neutral” is rising. Microsoft is reducing its emissions by putting an internal price on carbon and reinvesting those dollars into clean power, energy efficiency projects, and carbon offset projects. Microsoft has pledged to reduce operational emissions by 75 percent by 2030, but has been operating as 100 percent carbon neutral since 2012.
For example, DTE Energy, a Michigan-based utility, has set targets to reduce CO2 emissions from owned and purchased generation by 45 percent by 2030 and 80 percent by 2050. As documented in their annual or sustainability reports, many companies have set emission reduction targets – most with targets out to 2020 or 2030, but several with mid-century goals. Some focus on procuring or investing in renewable energy, such as wind and solar power, while others are focusing on efficiently producing their goods and services. The BELC comprises a variety of companies from across the economy, including the engineering, industrial, technology, mining, automotive, finance, and power generation sectors.Įach of these diverse businesses has committed to implementing strategies to reduce emissions in its operations or supply chains. This includes members of the C2ES Business Environmental Leadership Council (BELC), a group of 35 businesses committed to climate action and supporting climate-friendly policies. That leadership vacuum puts more pressure on the private sector. But despite this and other mounting evidence of worsening climate impacts, the federal government is backtracking on efforts to reduce emissions and is poised to formally withdraw from the Paris Agreement. 12 was a record-setting 98 degrees F for the date and the 55 th day the high temperature reached 90 degrees or more the average number of days above 90 degrees is 36 annually. The most noteworthy were in Alaska, where Anchorage hit a record 90 degrees F on July 4, and Europe, where thermometers in Paris soared to 108 F on July 26, shattering the record high by almost 4 degrees. July was the hottest month in recorded history, with many record-breaking heatwaves across the globe. C2ES organizes a corporate business council that includes many of the companies leading the way with ambitious emissions targets and innovative strategies.
Companies in the oil and gas, electricity generation, automotive, and financial sectors are demonstrating that acting on climate is good for the Earth and also smart business strategy.
While national leaders have been slow to act on reducing greenhouse gas emissions that warm the atmosphere and contribute to climate change, many businesses have made serious commitments to address their own actions.
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