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Latest IPCC Findings Validate Data from Businesses

Date
04 May 2007

Data recently collected by The Climate Group from businesses reinforce the findings of the report released today by the IPCC on solutions to global warming.

The Climate Group, in its third edition of Carbon Down Profits Up, profiled 84 companies that have cut GHG emissions through energy efficiency, increasing use of renewable energy and switching to low carbon fuels. All of the companies profiled accrued cost savings, and over twenty achieved emissions reduction of 25% or higher.

The IPCC report, Summary for Policy Makers from Working Group III Climate Change 2007: Mitigation of Climate Change, is solutions-oriented and outlines actions and policies government and industry can implement to address global warming. The Report's essential message that cutting global warming emissions now costs less than doing nothing confirms the conclusions of the Stern Report, released last October by UK economist and former Chief Economist of the World Bank, Sir Nicholas Stern.

The Climate Group's work with corporations in the US and globally, validates the IPCC's key findings:
> Climate protection is cost-effective, saves money, creates jobs, and protects the health of current and future generations
> Much of the technology needed to cut back on carbon emissions is available and in use now, businesses that are employing it have increased competitiveness and cut costs.
> Renewable energy and energy efficiency technology coupled with reversing deforestation can dramatically cut down global warming pollution

Nancy Skinner, US Director based in The Climate Group's California office states: "Carbon Down Profits Up reinforces the IPCC Report findings and demonstrates business has considerable scope to cut energy use and emissions and reap significant financial benefits."

The Climate Group's experience with companies across the globe provides optimism for the future. "Companies as diverse as Cisco, Caterpillar Inc., PG&E, Nike, Safeway and DuPont have found that tackling climate change can enhance performance, improve reputation and brand value, cut operational costs and offer new business opportunities" says Chris Walker, The Climate Group's US Director in New York.

DuPont, for example, achieved 60% reduction in GHG emissions and $3 billion in cost savings through energy efficiency improvements alone.

PG&E CEO Tom King, who attended The Climate Group hosted Business Leaders lunch with UK Economist Sir Nicholas Stern, stated: "Climate change is real and the time for action is now. Taking immediate and concrete measures to reduce greenhouse gases is the right thing to do, and has the potential to deliver significant economic benefits. As climate change becomes a central business issue globally, it's increasingly clear that adopting an emissions reduction strategy is a business imperative."

PG&E, through its soon to be launched Climate Smart Program will offer customers the ability to support offsets that will limit deforestation within California.

Jo Pettus, Senior VP Safeway, said:"Addressing greenhouse gas reductions will take bold leadership. It's a global problem and will require a global solution. Our hopes are that those companies taking an active role in reducing carbon emissions will drive new markets in climate solutions."

For further information please contact:
Nancy Skinner, US Director, California Office T: 510 251-2823, Cell: 510 717 6964
Chris Walker: US Director, New York Office T: 212 545 5421 Cell: 917 325 7695

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