For the first time since 2010, a Republican has introduced a climate bill. Business leaders are welcoming its market-based approach to fighting climate change.
Yesterday, 34 U.S. businesses sent a public letter thanking Rep. Carlos Curbelo (R-FL 26thDistrict) for introducing the MARKET CHOICE Act (H.R. 6463), a bill to fund infrastructure investment while cutting climate pollution. Companies that signed the letter include BP America, Campbell Soup Company, The Dow Chemical Company, DuPont, General Motors, Ingersoll Rand, Lyft, Inc., IKEA North America Services, LLC, National Grid, PG&E Corporation and Shell. The Sustainable Food Policy Alliance, which includes Danone, Mars, Nestle USA and Unilever also sent its own letter of support.
Why are these companies publicly thanking Rep. Curbelo and his cosponsors? Here are four takeaways for companies of all sizes.
Many companies set goals to achieve zero net deforestation by the year 2020. That date may have seemed like a long way off when they were planning, but with now less than 20 months to go, it’s not surprising that companies and NGOs are looking for ways to drive forward progress, faster.
That’s also why the Tropical Forest Alliance 2020 (TFA) is meeting in Ghana this week. The TFA is a group of governments, NGOs, and private sector actors committed to making the 2020 goals a reality. One of the things they’ll surely be discussing is the recent field trip that Environmental Defense Fund (EDF) organized to a cattle ranch in Brazil (as part of TFA’s Latin America convening in March).
If you are on a corporate sustainability team that is racing to meet those 2020 goals, you’ll be interested in the three, big takeaways from the trip:
Last week hundreds of representatives from global companies and leading NGOs met in Bentonville, AR for Walmart’s annual Sustainability Milestone Summit. The theme of the meeting was Project Gigaton, the most ambitious and collaborative effort ever to reduce a billion tons of emissions from the global supply chain over the next 15 years. At the meeting Walmart announced 20 million metric tons of greenhouse gas emissions reductions from suppliers, and noted that 400 suppliers with operations in more than 30 countries have now joined Project Gigaton by setting ambitious climate targets.
One powerful theme that emerged from the meeting was the importance of technology. Project Gigaton is inspiring targets that raise our ambition, but increasingly technology is how we will deliver on these commitments and measure progress.
A new EDF survey of more than 500 executives confirms that game changing technology innovations are empowering private sector leaders to improve business and environmental performance – and to accelerate sustainability efforts across global supply chains.
At Environmental Defense Fund, we believe that environmental progress and economic growth can and must go hand in hand. EDF+Business works with leading companies and investors to raise the bar for corporate sustainability leadership by setting aggressive, science-based goals; collaborating for scale across industries and global supply chains; publicly supporting smart environmental safeguards; and, accelerating environmental innovation.
This is the fourth in a series of interviews exploring trends in sustainability leadership as part of our effort to pave the way to a thriving economy and a healthy environment.
Dave Stangis has dedicated over three decades of his career to steering sustainability and corporate social responsibility (CSR) efforts at two iconic American companies, Intel and Campbell Soup Company. As Vice President of Corporate Responsibility and Chief Sustainability Officer at Campbell, Dave has built the company’s reputation for setting a high bar on sustainability and corporate responsibility in the food industry. Case in point: Campbell was recognized as a top corporate citizen by Corporate Responsibility Magazine for the eighth consecutive year.
Campbell set an ambitious goal to cut the environmental footprint of its product portfolio in half by 2020, which entails reducing energy use by 35 percent, recycling 95 percent of its global waste stream, and sourcing 40 percent of the company’s electricity from renewable or alternative energy sources.
I recently spoke with Dave to learn about his approach to setting big sustainability goals, the role of technology and innovation in building a more sustainable food system, and which kind of beer goes best with a bowl of soup. Below is an edited transcript of our discussion.
Just yesterday, the administration announced plans to cut the Department of Energy’s (DOE) renewable energy and energy efficiency program budgets by 72 percent according to a leaked draft of the DOE budget for fiscal year 2019. This is the second major blow to the renewable energy industry, coming only days after Trump imposed a 30% tariff on solar imports.
I find this ironic. On Tuesday, Trump stood before our country to deliver his first State of the Union address. It was a story on “America First” and domestic policy took the center stage – tax cuts, trade, the economy, jobs…and more jobs. But as he praised the accomplishments in these issues over the past year, I couldn’t help but see the other side: the opportunities we’re missing and the jobs we’re giving up (now even more so).
No business is immune to the devastating effects of climate change anymore, as we saw from the onslaught of extreme weather events in 2017. Disasters brought more than $300 billion in damages this year, a 60-percent increase over 2016, Swiss Re reported last week.
As every business leader has long known, storms, flooding, wildfires and other calamities all threaten to disrupt their operations and growth, and can even affect an entire supply chain.
What’s new is that shareholders and potential investors are also now aware of the risk that extreme weather and natural disasters pose to “doing business as usual.”
Unsurprisingly, a growing number of companies are factoring resilience to climate change into their operations. It’s about the bottom line: Making a company more resilient is an investment in business continuity, shareholder value and overall performance.
At Environmental Defense Fund, we believe that environmental progress and economic growth can and must go hand in hand. EDF+Business works with leading companies and investors to raise the bar for corporate sustainability leadership by setting aggressive, science-based goals; collaborating for scale across industries and global supply chains; and publicly supporting smart environmental safeguards.
This is the second in a series of interviews exploring trends in sustainability leadership as part of our effort to pave the way to a thriving economy and a healthy environment.
As head of the Smithfield Foods’ sustainability program, Stewart Leeth focuses on animal welfare, employee relations, environmental stewardship, food safety and quality, and community development.
EDF has been collaborating with Smithfield for several years now to help farmers optimize fertilizer applications to grow grain for animal feed – and I’m inspired to see the progress that has been made in this arena. But I think this past year was likely the busiest ever for Stewart and his team at Smithfield after they made an industry-leading commitment to reduce greenhouse gas emissions.
When I worked on the trading floor at Goldman Sachs, one of the major services we provided our corporate clients was risk management. Sitting on the commodity desk, we bought and sold financial products that allowed the world’s biggest consumers and producers to manage their exposure to the often fluctuating price of natural resources like aluminum, crude oil, and natural gas. Companies take action to manage this price risk in order to provide long-term stability for the company and its investors.
Now as a member of the EDF+Business team, I focus on a different kind of risk: climate risk. And just like financial risk, it needs to be managed for the long-term benefit of all stakeholders involved.
Now, there’s an immediate opportunity for companies to show leadership on climate change here at home: speaking up in defense of the Clean Power Plan, which the current Administration wants to eliminate but is still very much in play.
Here are three reasons for your business to publicly defend the Clean Power Plan before the EPA comment period ends on April 26, 2018.