Case study: How Colgate is increasing its energy efficiency
Operating in today’s world requires an enhanced focus on conserving Earth’s finite resources, addressing climate change and maintaining the well-being of the planet for generations to come. Colgate’s planet-related commitments cover the environmental issues material to the company and its stakeholders and, most importantly, its energy use.
Consumers, nongovernmental organizations and other external organizations expect companies to do their part in the fight against climate change, reducing energy consumption. What is more, reducing Colgate’s energy use and greenhouse gas emissions also enabled the company to avoid costs: since 2002, Colgate’s energy-reduction projects helped Colgate avoid nearly $500 million in energy costs. After measuring and setting targets, Colgate took action to implement a global Energy Management Program, help Colgate’s global sites prioritize on the most effective energy reduction activities through the Top 10 Energy Actions program, engage people across Colgate’s operations through the Energy Treasure Hunt program, invest in energy reduction projects through the 5% for the Planet program and, also, reduce energy consumption in Colgate’s plants across the globe through energy efficiency initiatives.
Using the GRI Standards in order to maintain and increase the value of your company
With each publication in this series the FBRH team will highlight one key impact identified by a company reporting in accordance with the GRI Standards and show how it has taken a structured, systematic approach to improving performance. With such positive action companies build trust, by dealing responsibly and conscientiously with their impact on the environment and on their stakeholders (e.g. clients, suppliers, shareholders, local communities, NGOs or local government). Stakeholders that can hold it back or stop it from reaching its objectives
By building trust your company creates loyalty and long-term commitment to its services and brands