SAN FRANCISCO: With world energy consumption set to rise by around 40 percent by 2030, Business for Social Responsibility (BSR) has produced a guide to help companies transition to climate-friendly fuels.
BSR says transport fuel is projected to be one the leading sources of greenhouse gas emissions through 2050. The guide, produced with the support of Coca-Cola, CSX, GE, Nike, Pepsi, Shell, UPS, Volvo and Walmart, is designed to help companies migrate to fuels that will reverse this trend.
Based on input from companies, research institutes, civil society organizations, and government agencies, BSR has identified five challenges that have hindered efforts to adopt low-carbon fuel, and then offers a four-step approach to address them.
The challenges are profound marketplace change; sustainable fuels are not yet scalable; the issues are complex and multifaceted; sustainability standards are underdeveloped; and key stakeholders have different ideas about the way forward.
In response, the guide outlines four steps: "Understand your total fuel footprint; optimize your use of available fuel and vehicles; collaborate to enable new low-carbon solutions; and advocate for a better policy environment."
BSR claims "getting fuel sustainability right is good for business" because in addition to addressing climate change, it can reduce costs by lowering lifecycle fuel prices, shape public policy and marketplace choices, prepare companies to respond to rapid changes to markets and technologies, and generate goodwill from customers and stakeholders.
The organization notes that while clean and renewable transportation technologies are gaining ground, fossil fuel will remain the backbone of fuel resources for decades to come. At the same time the increasing reliance on unconventional sources including the Artic, shale and fracking is creating more pressing climate, human rights, and other sustainability challenges.
BSR works with more than 250 member companies to develop sustainable business strategies and solutions through consulting, research, and cross-sector collaboration.
The guide is downloadable below.