WWF and CDP are now recommending that companies interested in capturing these savings do the following:
1. Run the calculator and set or revise a carbon reduction target to claim the company's share of the savings2. Reallocate capital to deliver better returns at lower risk3. Translate the savings to the company's bottom line
The report is built upon rigorous analysis by several of the world's leading consulting firms, namely McKinsey & Company, Point380 and Deloitte LLP. In addition the report draws upon data reported to CDP from major U.S. businesses, case examples from WWF's Climate Savers program in the US, dozens of interviews with corporate leaders, and the real-world experience of consultants working directly with businesses to cut costs and shrink their carbon footprints.
Here's what major companies are already saying about The 3% Solution:
"This report shows that not taking action to reduce emissions and fight climate change is like leaving big money on the table," said Chris Librie, Senior Director, Sustainability Programs, HP Sustainability & Social Innovation. "HP is already taking actions in line with those recommended by The 3% Solution. During 2012, we completed a comprehensive carbon footprint analysis to better understand the impact of our company and our products. HP is among the first companies globally to publish this level of information. We work to reduce the impact of our products and operations. In addition, we collaborate with suppliers to improve their environmental performance - resulting in a 24% decrease in production supplier GHG emissions intensity over four years. HP calls on other American businesses to heed the call made in The 3% Solution and capture their share of these savings - all while doing some good for the planet."
"This study shows that there are tremendous opportunities for companies to make operational changes that benefit both the environment and their economic bottom-lines," said Jeff Seabright, Vice President, Environment & Water, The Coca-Cola Company. "There is a pressing need for business, government and civil society to work together to pursue these 'no regret' opportunities if we are to stabilize emissions in this decade."
"The 3% Solution analysis shows that good environmental stewardship can pay off. DuPont has looked at the important issue of energy efficiency brought up in the report in two ways," said Linda Fisher, Vice President - Safety, Health & Environment and Chief Sustainability Officer, DuPont. "First, we focused on how to become more energy efficient in our own plants and as a result have realized year-over-year energy cost savings of $230 million. Secondly, we have looked at it from a business growth perspective and focused our science and innovation to create products that will improve the energy efficiency of our customers throughout the value chain. Last year we generated $1.9 billion from products that enable energy efficiency and greenhouse reductions in the use phase."
"Sprint is the first and, to date, only U.S. telecom company to publicly announce an absolute greenhouse gas (GHG) emission reduction goal (an absolute 20% of scope 1 and scope 2 by 2017 over 2007 levels)," said Bill White, Senior Vice President of Corporate Responsibility at Sprint. "We continue to look for opportunities to drive energy and emission efficiencies and The 3% Solution presents business leaders with strong evidence that can significantly reduce costs and their environmental impact."