Energy-Smart Companies Save $55 Million While Driving Down Emissions: The Climate Group Report

The world’s leading energy-smart companies have already saved over 520 million MTCO2e, the carbon equivalent of running 134 US coal-fired power plants* for a year – generating substantial business benefits, a new report reveals. Among these are Indian corporate giants Mahindra Group and Ultratech Cement.

‘Smarter Energy Use: Businesses Doing More With Less’ is the first Progress and Insights Report for EP100, a global corporate leadership initiative of international non-profit The Climate Group, delivered in partnership with the Alliance to Save Energy. The initiative brings together a growing group of energy-smart companies committed to increasing their energy productivity – achieving higher economic output per unit of energy consumed.

The report finds that on average, 21 reporting member companies** (including multinationals such as UltraTech Cement, Hilton and H&M) are already 67% of the way toward their respective energy productivity goals and are ahead of schedule.

To date, 21 have saved more than enough energy to power almost half of India for a year***. Since joining EP100, 18 have also generated collective financial savings to the tune of US$131 million – capital that can be reinvested in clean growth – as well as wider business benefits such as increased employee productivity and a reputational boost.

Also today, Mahindra Group company Swaraj Engines Ltd, Yanbu Cement Company (YCC) and Airport Authority Hong Kong have joined EP100 to improve their energy productivity – bringing the membership total to a 50 members milestone. Together, these 50 members have a combined revenue of over US$382 billion, covering more than 130 markets worldwide and spanning 9 sectors from retail and real estate to cement and automotive manufacturing.

Jarnail Singh, India Director, The Climate Group, said, “Energy productivity is an emerging paradigm that is recalibrating the focus of business leaders away from energy conservation and towards how energy can best maximize societal, environmental and economic welfare. It resonates with leading Indian companies because they are starting to see the pivotal role they play in decoupling the country's economic growth from greenhouse gas emissions.”

“To date, eight Indian companies have joined EP100, and this is our largest contingent of members by country. We hope many more Indian companies step up and make the ambitious energy productivity commitments that are necessary for accelerating the country's transition to a low-carbon economy.”

Jason Hartke, President, the Alliance to Save Energy, said, “Using energy more productively is essential for addressing the climate challenge, but global progress has been far too slow.

“The EP100 companies featured today have stepped up to show what doing more with the energy they use really looks like, and it’s a picture of growth and success. We’ll need more leadership like this – and quickly – as the alternative is too costly to fathom.”