• 3 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 8 minutes Why Is America (Texas) Burning Millions of Dollars Per Day Of Natural Gas?
  • 11 minutes Is $60/Bbl WTI still considered a break even for Shale Oil
  • 15 minutes CNN:America's oil boom will break more records this year. OPEC is stuck in retreat
  • 18 mins The Pope: "Climate change ... doomsday predictions can no longer be met with irony or disdain."
  • 7 hours Hormuz and surrounding waters: Energy Threats to the World: Oil, LNG, shipping markets digest new risks after Strait of Hormuz attack
  • 11 hours As Iran Nuclear Deal Flounders, France Turns To Saudi For Oil
  • 7 hours The Magic and Wonders of US Shale Supply: Keeping energy price shock minimised: US oil supply keeping lid on prices despite global risks: IEA chief
  • 16 hours Middle East on brink: Oil tankers attacked off Oman
  • 7 hours Russia removes special military forces from Venezuela . . . . Maduro gone by September ? . . . Oil starts to flow ? Think so . .
  • 10 hours Never Knew Gasoline Prices were this important!
  • 9 hours (Un)expectedly: UK Court Sets Assange U.S. Extradition Hearing For February 2020
  • 1 day Emmissions up, renewables nowhere
  • 1 day Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 4 hours We Are Better Than This
  • 1 day Only one country is contemplating destroying its own resource sector: Canada
  • 8 hours The Latest: Iranian FM Says US Cannot Expect To ‘Stay Safe’
Russia Calls The Shots In A Fractured OPEC

Russia Calls The Shots In A Fractured OPEC

Russia and most OPEC members…

3% Cut in Emissions will Save the US Corporate Sector $780 Billion

A report compiled by the WWF and the Carbon Disclosure Project (CPD) has found that by cutting its emissions by an average of three percent a year, the US corporate sector could save as much as $780 billion over the next 10 years.

Companies would only need to spend around three to four percent of their capital expenditure each year in order to achieve such emission reductions.

Lowering emissions by three percent a year until 2020 would be the equivalent of cutting annual greenhouse gas emissions by 1.2 gigatonnes by 2020, equivalent to a 25 percent reduction compared to 1990 levels, and in line with the reduction that the Intergovernmental Panel on Climate Change (IPCC) says is needed in order to keep global average temperature increases less than two degrees by the end of the decade.

Related article: As Climate Change Worsens, US Corn Ethanol becomes Uneconomical

The report claims if businesses wait until 2012 to make changes and invest in projects to reduce greenhouse gas emissions, and still hope to reduce emissions enough to be in line with levels scientists have stated must be achieved by 2050, they  would have to make cuts of 10 percent a year; a far more expensive proposition.

Paul Simpson, the CEO of CDP, said that “corporations must act now not only to address environmental risk, but also to aid economic recovery in the US and build resilience. Investing in energy efficiency and renewable energy saves cost, stimulates innovation, creates jobs and builds energy independence and security.”

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News