Dow cuts emissions by more than 50% at global ops

19 April 2007 10:22  [Source: ICIS news]

SINGAPORE (ICIS news)--Dow Chemical has reduced carbon emissions at its global operations by 56%, exceeding targets, said a senior executive on Thursday.

           

Environmental efforts at the heart of a company’s corporate strategy makes good business sense, said James Mcllvenny president, Asia Pacific and Greater China, speaking at a UN sponsored environmental summit in Singapore.

 

The company had also reduced industrial waste by 103bn pounds (47bn kg) as well as curbing emissions, he said in a short presentation.

 

For every $1 (€0.74) invested in environmental measures at Dow the payback was five-fold, the executive said to around 300 delegates from around the world.

 

Regulations had become an important factor in encouraging companies to incorporate environmental responsibility, but Mcllvenny warned that stability was essential.

 

“We [companies] like to have clear policies and objectives. Change makes it hard for us to adapt,” he said.

 

Summit delegates also discussed a carbon tax which has been talked about by the EU and other countries.

 

It would effectively tax energy sources which emit carbon dioxide into the atmosphere.

 

Mcllvenny was adamant that such a tax would “flow” through to consumers.

 

“If you want to reduce carbon emissions you have to change [consumer] behaviour,” he said.

 

The summit kicked off with UN officials warning that environmentalism will be far more influential this century compared with the last 50 years.

 

“We are faced with climate change and its catastrophic consequences,” said Achim Steiner, executive director of the United Nations Environment Programme.

 

Companies would have to adjust business models and products to climate change, as well as taking into account shifting peoples perceptions, added Steiner.

By: Matt Kovac
+65 6780 4359

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