A landmark study being published tomorrow by WWF and CDP aims to change the conversation in business about addressing climate change — primarily by showing how profitable it can be to do so.
"The 3% Solution: Driving Profits Through Carbon Reduction" (being released Tuesday via a GreenBiz.com webcast that I’ll be hosting) begins with a hopeful premise: that U.S. business can reduce carbon emissions sufficient to meet science-based goals for avoiding a 2°C rise in global temperatures. And do so while capturing hundreds of billion dollars in savings and creating new business opportunities.
The report is designed to help elevate and amplify the alignment between science and business. In order to bolster the work done by the two nonprofits themselves, WWF and CDP brought in McKinsey and the other analysts to help. Says Leonard: “We relied very much on McKinsey’s cost curves and experience of working with companies in addition to our own.”
The conclusion: In order to stay below 2°C, the U.S. corporate sector must reduce total annual greenhouse gas emissions by 1.2 gigatons compared to 2010 levels — the equivalent of approximately 3 percent emissions reduction per year. There is another gigaton savings possible through emissions-reduction opportunities from utilities, consumers and supply chains, say the authors.
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The report will be launched during a free webcast on June 18 at 1 pm Eastern Time. To register, click here.