Energy use is the largest source of U.S. GHG emissions- 85 percent. Climate Savers focuses on energy while providing the flexibility to work with companies on identifying and reducing other sources of greenhouse gas emissions only after a CO2 reduction target and strategy have been established.
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Why do companies join CS?
The Climate Savers program provides both monetary and non-monetary benefits to participating companies. Based on feedback from a number of companies about the program, it appeals to companies on a number of fronts:
- Many business leaders see the mounting evidence of global warming and feel that this is the most pressing environmental issue in the coming century.
- Other companies, regardless of their opinion on the science of climate change and whether or not it, itself, is a certainty, see the writing on the wall. It is increasingly inevitable that companies will need to develop climate management strategies to remain competitive.
- The cost-effective aspects of a proactive plan outweigh the potential cost of waiting.
- Companies can start reaping the economic rewards now of increased efficiency and reduced reliance on fossil fuels.
- Companies that act soon to set a GHG reduction goal get some positive press and recognition while it is still new enough to warrant press coverage.
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How are heat trapping gas emissions data verified?
Participating companies agree to obtain independent verification of current CO2 emissions as a baseline for performance in the Climate Savers Program. It is expected that each company will have independent verification of its carbon dioxide emission every two years, with credible project-related emissions reductions available on a continuous basis.
Verification can be completed either before or after a Climate Savers agreement is finalized. For example, one company joined the program after we reviewed their emissions data, developed a solid understanding of corporate-wide emissions, and we suggested they shift the way they accounted for changes in their baselines to reflect acquisition and divestiture activities. The company was being unnecessarily rigorous in previous emissions accounting practices and not expanding its historic baseline when it was acquiring new companies. Our recommendations coincided with an upgrade plan for the company's energy and emissions tracking database, so we proceeded with the launch of an agreement with the understanding that the formal independent verification would occur once the company's new energy and emissions tracking system was fully operational.
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Is there a cost to join Climate Savers?
No. WWF collects no money from a company for its participation in Climate Savers, although companies may have previously contributed to other programs of WWF. In addition, a company may choose to contribute money to WWF after it has joined Climate Savers. However, the important distinction is that corporate contributions do not go directly to the management of Climate Savers. This division helps the program managers maintain objectivity in considering potential candidate companies and in determining world-class reduction targets.
There is an incidental cost to participating, however. Since WWF requires independent verification, companies conclude a separate contract for verification of their inventory. WWF requires that company's emissions tracking system rely on assumptions consistent with those of the GHG Protocol. Please see the web site www.ghgprotocol.org for more information on the measurement guidelines.
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Why does each company have a different agreement?
The Climate Savers Program helps companies develop a customized target, baseline, timeline, and path depending on the company's history, environmental leadership criteria for different sectors, and the company's level of sophistication in its expertise and infrastructure. Some companies that are in a learning stage (versus a leadership stage) can participate if they negotiate a satisfactory, progressive reduction target.
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What else do companies commit to do?
Participate in yearly information exchange - In the spirit of education and awareness, the companies agree to share non-proprietary information about reducing emissions during the annual gathering of Climate Savers companies and to assist in benchmarking efforts coordinated by WWF.
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Can a participating company use the WWF panda logo?
The memorandum of understanding states that any use of the logo must be pre-approved by WWF. A company must specifically ask for permission and receive authorization anytime it is interested in displaying the logo.
Use of the logo is considered if it enhances program goals by helping to educate about the need for corporate leadership in adopting aggressive greenhouse gas reduction strategies. Therefore, the panda logo would not be used to endorse products, since the Climate Savers Agreement is focused on the carbon dioxide reduction commitments of a company.
In the past, companies have asked to display the logo in the voluntary initiative section of annual environmental reports, next to the description of the program. A request like this would be considered at WWF since it seems appropriate and consistent with the program goals of focused messaging on the need for corporate leadership in combating climate change.
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How is criteria developed for a Climate Savers commitment?
Staff from the company and the Climate Savers team will discuss opportunities for reducing emissions and work towards developing a mutually agreed upon emissions reduction target. Some factors to consider include:
- The company's past energy and environmental performance
- Current reduction targets for companies in the same or similar sectors
- The growth strategy for the company
- Plans for fuel switching and renewable investments
- The current environmental and energy goals for the company
- Discussion of a best-in-class target
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Is Climate Savers active in other countries?
WWF is actively engaging with companies around the world to investigate their willingness to partner with WWF in reducing businesses' contribution to global warming.
WWF has a history of working to persuade the business community to improve its performance.
