Earlier this month a new report, 2016 Corporate Advanced Energy Commitments, explained renewable energy demand is “significant and growing quickly” within Fortune 100 and Fortune 500 companies.
Its findings reveal that 71 of Fortune 100 companies and 215 of Fortune 500 companies have set renewable energy or sustainability targets.
TAEBC decided to take a closer look at which companies in Tennessee not only made the list but also have set energy goals within their corporations.
It’s important to mention 22 companies in the Fortune 500 list have committed to 100% renewable energy including General Motors and Nike.
General Motors has a plant located in Spring Hill, Tennessee and recently announced plans to add 650 jobs there. Meanwhile, Nike’s largest distribution center is located in Memphis, Tennessee.
Coming in at the highest ranked Tennessee headquartered company on the list is FedEx Corp. FedEx’s corporate office is located in Memphis. It’s been on the list for more than 20 years and employs more than 323,000 people nationwide.
As for energy commitments, FedEx Corp. has set ambitious goals to reduce its footprint by:
- Increasing FedEx Express vehicle efficiency by 30 percent by 2020 (It surpassed its original 20 percent by 2020 goal years ahead of schedule.)
- Getting 30 percent of its jet fuel from alternative fuels by 2030
- Expanding on-site renewable energy generation and procurement of renewable energy credits
The company has made impressive gains in meeting and exceeding these goals.
- In FY12, FedEx achieved a 22% fuel efficiency improvement in the FedEx Express vehicle fleet since FY05. It also happily announced that FedEx Express increased its previously stated vehicle fuel efficiency goal by 50% to a 30% improvement by 2020, still using FY05 as the baseline year.
- By the end of FY12, FedEx Express had increased its global electric vehicle and hybrid-electric vehicle fleet to 482 vehicles, an increase of nearly 18%. As of December 2012, these vehicles had logged 14.8 million miles and saved 480,000 gallons of fuel since being introduced to its fleet in 2005.
The other Tennessee company making it to the Fortune 100 list is HCA Holdings, Inc. HCA Holdings’s corporate office is in Nashville. It’s the nation’s largest hospital chain and its revenues rose 8.7% over the past year. The magazine credits this to the passing of the Affordable Care Act, increasing its number of insured patients seeking healthcare.
HCA Holdings, Inc. has been on Fortune’s list for at least 22 years. The company employs more than 200,000 workers.
HCA has created a 2016 Sustainability Plan that mentions the collective impact all hospitals made in 2015 along with plans for the future in new construction projects including:
- Pursuit of LEED Status – Several of HCA’s hospitals have received LEED Certified status or are in the final stages of such including it’s Nashville Data Center.
- Alternative Energy Sources – Solar, wind, and combined heat and power energy systems can be incorporated into new construction. HCA’s Sustainability Plan says “an evaluation of the feasibility of these systems will occur for all future projects.