November 16, 2017 Read More →

Corporations, Regardless of Current Government Policy, Continue Shift to Renewables

Wall Street Journal:

More of the world’s biggest corporations are taking the fight against climate change into their own hands, aiming to cut their energy costs, pre-empt regulation or burnish their reputations with investors and customers.

Apple Inc. has draped its new California campus with solar panels. Wal-Mart Stores Inc. cut the energy consumption of its refrigerators. Steelmaker Thyssenkrupp AG streamlined trucking routes, Dell Inc. made its servers less power-hungry and Microsoft Corp. pledged Tuesday to slash its carbon output.

Among just over 1,000 of the world’s biggest publicly listed companies, accounting for about 12% of total greenhouse-gas emissions, 89% have plans to cut those emissions, according to a survey from the CDP, a nonprofit platform for corporate environmental disclosures. That is a 16 percentage-point increase since 2011, said the CDP, formerly known as the Carbon Disclosure Project. Earlier this month, a group led by former New York Mayor Michael Bloomberg and California Gov. Jerry Brown presented a climate pledge under which 1,400 businesses have set emissions-reduction targets.

Investors with $100 trillion in assets world-wide—including BlackRock Inc. and Goldman Sachs Group Inc. —say they refer to the CDP’s database when making investment decisions.

This month HSBC Holdings PLC said it would invest $100 billion in low-carbon businesses before 2025, and cut financing for new coal-fired power plants in the developed world and thermal-coal mines world-wide.

“You don’t want to be the last one that wants to get out of certain assets once you realize they are no longer viable,” said Daniel Klier, HSBC Holdings’ global head of strategy and sustainable finance.

Companies say setting targets and working to cut emissions helps them get a head start on any coming government mandates.

More ($): How Companies Are Pushing Ahead on Climate-Change Targets

 

 

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