Why this leading energy company sees opportunity in a low carbon future

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 eighth 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.

Equinor, formerly known as Statoil, is not your average energy company. The Norwegian-based corporation reports producing oil and gas with half of the CO2 emissions, compared to the global industry average.

The company also stated commitment to building its business in support of the Paris Agreement, and plans to invest over $200 million in Equinor Energy Ventures, one of the world’s largest corporate venture funds dedicated to investing in growth companies in renewable energy. That may be why CDP ranked Equinor as the oil and gas company best prepared for a low carbon future.

Equinor is also doing its part to detect and reduce methane emissions by embracing innovation and technology. In fact, Equinor was the first energy producer to purchase and install a new solar-powered technology device to continuously detect methane leaks. And, Equinor collaborates with EDF and Stanford in supporting mobile monitoring advances, such as drone based sensors.

In advance of the World Gas Conference in DC later this month, I spoke with Bjorn Otto Sverdrup, senior vice president of sustainability at Equinor, to learn more about the company’s climate goals and how the company is addressing methane emissions from its oil and gas operations. Here's an edited transcript of our conversation. Read more

Business leadership on climate and clean energy is blooming this spring

The momentum driving companies to cut carbon emissions shows no signs of slowing down, despite the lack of leadership from Washington, D.C.:

Most important, businesses increasingly see public policy as critical to achieving their climate and clean energy goals. Last month, leading companies including Apple, Google, Mars, Danone, Nestle, Unilever and American Eagle Outfitters filed comments with the Environmental Protection Agency (EPA), opposing repeal of the Clean Power Plan and affirming their support for policies that drive down emissions and increase access to renewable energy.

Here are three key takeaways from these developments.

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Environmental innovation is thriving in corporate America, despite the leadership vacuum in DC

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.

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Environmental innovation will transform business as usual

As the Trump administration rolls back environmental protections that could harm human health for decades, it’s increasingly up to businesses to lead the way, charting the course to a future that includes both a thriving economy and a thriving planet.

Leading the way requires first setting ambitious, public targets like the over 340 companies taking science-based climate action and 90 that have approved science-based targets; collaborating with partners across the value chain for maximum scale and impact – Walmart’s Project Gigaton, a collaborative effort to reduce 1 billion tons for emissions, is a powerful example; and, supporting smart climate and energy policy

BSR’s new sustainability framework closely echoes these leadership approaches and recommends that companies create resilient business strategies that align with sustainability goals. GreenBiz’s 2018 State of Green Business report further supports these and other requirements for sustainability leadership, adding that businesses need to improve reporting on climate risk, impact, and progress towards goals. The We Mean Business coalition adds further calls to action for companies: join the low carbon technology partnerships initiative, grow the market for sustainable fuels and electric vehicles, and take proactive steps to end deforestation by 2020.

Yet currently missing from all of this corporate sustainability leadership guidance is a call for companies to accelerate environmental innovation and deployment of next generation technology – sensors, AI, data analytics and visualization, and digital collaboration – to solve our most pressing environmental challenges.

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One-on-One with EDF+Business: Former DuPont CSO Linda Fisher on sustainability leadership

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 first 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.

Linda Fisher is one of corporate sustainability’s trailblazers. In fact, she was named the first chief sustainability officer of a publicly traded company (DuPont) in 2004.

Over the next decade, Linda led DuPont’s efforts to establish the company’s first set of market-facing sustainability goals, which included a strong emphasis on innovation. Read more

Why Walmart's Carbon Commitment Can Make Such a Difference

Archimedes said "Give me a place to stand, and I shall move the earth," when explaining the principle of levers.

Leverage is the big news about Walmart’s announcement today. The company has committed to reducing 20 million metric tons of carbon pollution from its products’ lifecycle and supply chain over the next five years. That’s equivalent to the annual greenhouse gas emissions from 3.8 million cars.

So is Walmart moving the earth? No, not yet. But this is precisely the kind of innovative approach to reducing carbon pollution that we need right now. Environmental Defense Fund worked closely with Walmart to craft this goal and project that makes the most of what Walmart can uniquely do to cut carbon pollution across the globe.

This commitment is bold because: Read more

Calling All California Truck Fleets – Free Money to Purchase Hybrids Now Available

Have trucks in California? You’d better get to your dealer fast, because the California Hybrid Voucher Incentive Program is open for business.

On February 4, the landmark program officially opened, and boy, were fleets ready. In the first 12 hours, about 25 percent of the program’s $20 million in vouchers had been requested.

All fleets with trucks operating in California are eligible for up to 100 vouchers each, on a first-come, first-served basis. With nearly $15 million still up for grabs, so it’s not too late to claim your share. Read more