A coalition of 18 large businesses have collectively cut $55 million off their energy costs by implementing better efficiency measures, concluded a new report from NGO, The Climate Group. The report is the NGO’s first annual progress document on its EP100 initiative. Under EP100, companies are required to either double their energy productivity, make their buildings net-zero carbon or implement an energy management system. In total, 50 companies with operations across 133 geographical markets are signed up to the initiative, including Hilton, H&M Group, Schneider Electric, Landsecand RBS. The 18 businesses to have collectively cut $55 million off energy bills include India-based engine manufacturer and supplier Swaraj Engines and the Yanbu Cement Company. A further key finding was that the 21 members of EP100 to have reported their year-on-year progress have collectively prevented the emission of 522 million MTCO2e equivalent to taking the annual energy consumption of Germany off the global system.

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