Businesses across the world are stepping up with bold strategies to address the climate crisis— and U.S. companies are leading the way. In fact, a new study from Deloitte shows that over 50% of all American companies have increased their commitments to renewable energy following recent reports that highlighted the urgent need to reduce emissions. And as the world recovers from the hottest month ever recorded in history, this increased corporate ambition comes not a moment too soon.
While many companies are motivated to take action on the escalating climate crisis, they’re also going green for the positive impact it can have on their business. By embracing clean energy and transitioning away from fossil fuels, U.S. companies are boosting their bottom lines, saving customers money, and increasing value for shareholders.
Globally, the world’s largest companies stand to gain $2.1 trillion by transitioning to low-carbon technology, according to a report from CDP. On the flip side, if the U.S. continues to use fossil fuels, climate change could cost the American economy hundreds of billions of dollars every year.
The risk of using fossil fuels is too great to ignore, and the reward of moving beyond them is greater than we may think. Businesses already know that going green can put them in the black, so they’re making climate action a priority. Along with the work of cities and states, their bottom up leadership is crucial to moving the country Beyond Carbon.