Financial Sector Lags in Clean Energy
A report “How American Companies are Setting Clean Energy Targets and Capturing Greater Business Value” finds that for the largest corporations in the United States, clean energy is now becoming mainstream. Overall, 43 percent, or 215 of the companies in the Fortune 500 have set targets in one of three categories: 1) greenhouse gas (GHG) reduction commitments, 2) energy efficiency and 3) renewable energy.
However, despite the overwhelming success of these American companies meeting their targets and saving money, smaller companies and some entire sectors are missing climate business opportunities, finds the report, jointly authored by execs from WWF, Ceres, Calvert Investments and David Gardiner and Associates.
For example, only 30 percent of the companies among the Fortune 250 to Fortune 500 have a GHG, renewable or energy efficiency target or some combination thereof. Less than a third of companies in the Energy and Financial Services sectors have adopted targets.
The Consumer Staples sector has the highest percentage of companies with a target of 62 percent. Both the Information Technology and Materials Sectors follow with 53 percent of companies setting targets.
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