A report put out by environmental think tank Ceres, the lobby group WWF, David Gardiner and Associates and Calvert Investments stated that major companies in the Fortune 500 list are collectively saving US$1.1 billion every year by using renewable energy.
Some of the companies are saving hundreds of millions of dollars per year by taking advantage of renewable energy.
Here are some of the companies and their annual savings:
The report also stated that, as of last year, AT&T has installed 11MW of renewable energy. Hewlett-Packard purchased 13 per cent of its electricity from renewable sources in 2012, while IBM saved about $477 million from efforts to conserve energy.
The report also concluded that Wal-Mart and Dell could save about $1 billion each through similar efforts.
Bennett Freeman, a sustainability research and policy executive at Calvert said, “Setting and meeting renewable energy targets helps companies and their shareholders to address clear risks and seize concrete opportunities.”
The same companies listed above have also reduced their carbon dioxide (CO2) emissions by 58.3 million tons, which is equal to retiring about 15 coal-fired power plants.
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Source: Eco News