It’s true that when NRDC was founded in the early 1970s, few corporations saw sustainability as an opportunity. Thankfully, that has all changed. 2007 was the year that many corporations wanted into the act.
NRDC, for instance, helped to launch the U.S. Climate Action Partnership with the CEOs of companies like GE, Alcoa, DuPont, PG&E and others. They’re realizing that not only is there an opportunity, but a real economic incentive as well. As one of the CEOs said, “if you’re not at the table, you’re on the menu.”
Consider a few other examples.
- Venture capitalists tripled their investment in green energy to $2.4 billion in 2006 alone.
- Solar energy companies accounted for the three largest IPOs in 2005.
- While around $17 trillion will be invested in global energy development over the next two decades.
The question that faces us is:
- Will that money be poured into polluting, obsolescent technologies that will contribute to global warming?
- Or will these investments be shifted into to advanced, low-polluting technologies that will create the new energy economy that's needed to ease global warming?
This question is particularly relevant for corporations. We tend to think of countries as responsible for largest portion of our greenhouse gas emissions, but it’s important to remember that the size of American corporations can dwarf even some countries.
Of the top 150 largest global economic actors, ninety-one are corporations and fifty-nine are countries. Companies like Wal-Mart, BP, CitiGroup, IBM, GE, and Exxon are bigger than many countries, including significant countries such as Indonesia and South Africa.
If we are going to achieve our goals in addressing global warming in the time frame that we need to, corporations have to be part of the answer. Fortunately for all of us, they are joining us in the fight.