The Climate Group launches EP100 to boost global energy productivity
Influential NGO the Climate Group has launched a new global energy productivity scheme to support businesses vowing to double in-house energy productivity and maximise economic output from each unit of energy used.
The EP100 initiative - an action of the We Mean Business coalition – will accelerate the transition to a clean economy and deliver national climate ambitions by driving energy production models. According to The Climate Group, a steady increase in companies adopting energy productivity within internal business models could reduce the global fossil fuel bill by an estimated $2.3trn and create more than six million jobs globally by 2020.
EP100 executive committee member Rachel Kyte said: “Energy productivity is a critical component of our new energy future. Less than six months after the Paris Agreement, leading businesses are continuing to take the ambitious climate action the economy needs.
“By publicly committing to double their energy productivity, these global companies are seizing the clear potential to cut energy costs, enhance profitability and avoid fluctuating energy shocks. EP100 is a step forward for bold business action – while setting us on course to achieve the world’s shared goals of sustainable, efficient energy for all.”
The world’s largest manufacturer of tractors Mahindra & Mahindra became the first member company to sign up to the EP100 before the public launch, pledging to double its energy productivity by 2030 against a 2009 baseline.
The EP100 scheme welcomed two new member companies at the Energy Efficiency Global Forum in Washington D.C. on Wednesday (11 May). Global technology and industrial leader Johnson Controls Inc. is pledging to double its energy productivity by 2030 against a 2009 baseline, and polymer company Covestro AG has agreed to the same timeframe targets against a 2005 baseline.
Johnson Controls’ Vice President of corporate sustainability Clay Nesler said: “We are pleased to join with other leading global companies in making a commitment to double our energy productivity by 2030 as part of EP100. Energy efficiency improvements have been a key element of our sustainability program since 2003 contributing to a 41% greenhouse gas emissions intensity reduction and over $100M in annual energy savings.”
The launch of EP100 comes after world leaders gathered for the signing ceremony of the Paris Agreement last month. In the build-up to the agreement, the We Mean Business coalition expressed support for the Paris climate change agreement to be enshrined into national law as a matter of urgency.
The EP100 is the latest global platform bringing together global businesses to make ambitious sustainability commitments.
A number of major corporations such as Coca-Cola, Unilever and Apple have recently signed up to the CE100 scheme - the innovation platform launched by the Ellen MacArthur Foundation to accelerate circular economy ambitions.
Bloomberg recently joined the likes of M&S, BT and Ikea by signing up to the RE100 initiative, launched by the Climate Group and CDP to assist major companies in sourcing 100% renewable power.