IBM (NYSE: IBM) has achieved two major commitments four years ahead of schedule in its effort to help combat climate change, the company said.
Goal 1: Reduce CO2 emissions associated with IBM´s energy consumption 35% by year-end 2020 against base year 2005 (adjusted for acquisitions and divestitures). IBM achieved 38.1% at year-end 2016, which is approximately equivalent to the emissions associated with the consumption of 1.8 million barrels of oil.
IBM´s latest accomplishments in relation to CO2 emissions is a result of a decades-long effort throughout which the company has set and met aggressive reduction goals. In fact, by 2005 IBM had already reduced CO2 emissions to 40% of the company´s 1990 emissions.
Goal 2: Procure electricity from renewable sources for 20% of IBM´s annual electricity consumption by 2020. IBM achieved 21.5% at year-end 2016, which is enough to power about 60,000 homes for 1 year. If we also count renewable electricity within the grid mix IBM receives, then 40.1% of IBM´s electricity supply across its managed spaces came from renewable sources.
IBM set these ambitious goals in February 2015 and subsequently assigned them to the American Business Act on Climate Pledge, a commitment by hundreds of companies demonstrating their support for action on climate change. By the end of 2016, IBM had exceeded both of those commitments four years ahead of schedule.
Between 1990 and 2016, the company had conserved 7.2 million MWh of electricity, avoiding 4.4 million metric tons of CO2 emissions and saving over USD 600 million. The emissions avoidance is equivalent to taking 900,000 cars off the road for a year.