Adoption of renewable energies can improve corporate profit, suggests study

SURREY, England, 2004-10-27

(Refocus Weekly)

A number of private companies have significantly reduced their greenhouse gas emissions while increasing their profits from the use of renewable energy, according to a report from The Climate Group.

Five companies have achieved GHG reductions of at least 60% while saving US$5.5 billion in total from improved energy efficiency and fuel switching, notes ‘Carbon Down, Profits Up.’ It notes that Austin Energy is committed to generating 20% of its electricity from renewables, while DuPont will raise its 1% use of renewables to 10% by 2010. STMicroelectronics will boost its consumption of renewables to 5% by 2010 while Toyota is purchasing large amounts of wind power.

“Big businesses and governments of all levels have actually made money from cutting greenhouse gases,” says Steve Howard. “This debunks the myth that it always costs you money to cut CO2 emissions with no return. The report shows for the first time that reducing GHG emissions not only does not have to cost the earth, but can result in real value creation.”

The German capital of Berlin reduced emissions 15% by increasing energy efficiency and using solar energy programs, with a municipal budget relief of Euro 2 million per
year. Germany’s promotion of renewables has created 450,000 new jobs, “undermining the oft-repeated claims that a strong climate policy is bad for business.”

“The advance of climate change, and of the scientific research, technological innovation and policy development that accompany it, has accelerated dramatically in recent years,” the report notes. It analyses 22 companies from Australia, Canada, Europe, Japan, the U.S. and the UK and 13 cities from the same countries which have achieved savings of $1.5 billion from a wide variety of measures which include setting a 25% goal for renewables.

In addition to Berlin’s use of solar energy, the German city of Hannover is noted for its installation of PV panels on public buildings, and Heidelberg for its purchase of solar power. Melbourne, Australia, purchases and produces renewable energy, while Portland, Oregon, has renewable energy demonstration projects. Port Phillip in Australia is noted for the installation of solar panels and San Diego, California, for sourcing 50 MW of PV power by 2013 and putting solar on city facilities.


Click here for more info...

Visit http://www.sparksdata.co.uk/refocus/ for your international energy focus!!