26 Sep 2008 05:09:29
74% of multinationals reducing internal emissions
Three quarters of the world's largest multinational companies have started implementing internal carbon emission reduction schemes, according to a new study.
A survey of 65 large multinational companies carried out by EcoSecurities and ClimateBiz revealed that 74 per cent were already taking steps to cut their internal emissions, while 43 per cent put an existing carbon management strategy into action.
Voluntary carbon markets have grown 350 per cent in value between 2006 and 2007, driven by a greater number of companies looking to curb their emissions.
The report cites various reasons for companies reducing emissions and purchasing offsets, including as an incentive to reduce operating costs, for corporate social responsibility, to lead the movement to a low carbon economy, to satisfy shareholders, to comply with existing or future regulations, to boost green credentials and deal with risks to their reputation.
Energy efficiency was seen as the most effective reduction activity, followed by changing employee behaviour and improving transport logistics.
The first American cap-and-trade market for emissions was launched by ten US states yesterday.
It conducted the first auction of permits to emit CO2 to utilities and investors, offering a total of 12.5 million permits each of which represents one tonne of carbon dioxide.EcoSecurities and ClimateBiz