Whether government leadership believes it or not, the transition to a low-carbon economy is not only happening, but is accelerating. Since there is a clear business case for reducing emissions by implementing efficiency measures and using renewables, companies are publicly setting their own voluntary emission reduction targets in line with climate science.
As detailed in http://sciencebasedtargets.org/, science-based targets drive corporate climate action by increasing innovation, strengthening investor confidence, reducing regulatory uncertainty, and notably, improving profitability and competitiveness.
It is ironic that companies are voluntarily self-regulating their emissions while the government tries to loosen regulations and effectively move backward. On closer look, however, it is not as strange as it seems. It is evidence that companies believe in climate science and understand the negative impact business-as-usual will have.
Case in point: As the Trump Administration works to repeal the Clean Power Plan (CPP), an increasing number of Fortune 1000 firms are doubling down on low-carbon corporate commitments. We can’t afford the alternative. A recent Forbes article highlights that the cost to the U.S. economy of removing CPP regulations is estimated at $600 billion https://www.forbes.com/sites/energyinnovation/2017/02/23/clean-power-plan-repeal-would-cost-america-600-billion-cause-120000-premature-deaths/#21eaac233b78.
Metrus is pleased to work with customers who continue to “future-proof” growth by incorporating sustainability initiatives into their business. Science-based targets are a step in the right direction.