BUSINESS FACES CLIMATE CHANGE

Starting to tackle climate change

Trish Wheaten, September 20, 2012 (The Hill)

“…Corporate America is warming to the idea that profitability and environmental sustainability are not mutually exclusive. The world will not be able to stave off the environmental calamities threatening our planet --like climate change -- without a strong commitment from America's business community...[Profit is] an incentive to make that commitment.

“The threat climate change poses to our way of life is real…Elevated temperatures don't just damage the environment -- they have an adverse effect on the economy…The U.S. Department of Agriculture predicts that the severe drought that afflicted the Midwest this summer will reduce average corn yields to their lowest levels in 17 years. As a result, corn prices could soon rise to $8.90 per bushel, up from just $5 a bushel in June…[which] could drive up the cost of food -- and even lead to shortages. Both farmers and consumers could pay dearly…”

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“…[M]any U.S. and global companies are taking concerted action to go green…Procter & Gamble, Ford, [Best Buy] and Coca-Cola have all instituted rigorous carbon footprint targets…Nissan, Mitsubishi, and Tesla are all increasing production rates for cars powered partially or entirely by electricity. Ford launched the Focus Electric…And General Motors is working on new technology that could power an electric car for up to 200 miles on a single charge.

“Many firms have also started requiring their suppliers to develop and deliver products that meet aggressive environmental standards. Levi's, for instance, has committed to becoming carbon neutral and using renewable energy exclusively throughout its supply chain…75 percent of [WalMart’s] California stores now use solar power to run their operations…Because of their sheer size, corporate behemoths can have a sizeable positive impact…Wal-Mart, for instance, has more than 10,000 stores worldwide…”

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