, we dug into what strikes me as one of the biggest challenges at the intersection of climate action and business right now: how to keep companies investing in climate solutions in the face of economic uncertainty and a looming recession.
The first place to start as companies look for any way to save a dime is the opportunity to embrace climate and sustainability. For many outside the climate space, including many well-intentioned leaders, solutions are perceived to be costly investments with little financial upside. While it’s certainly true that some options remain pricey—think of, say, installing direct air capture technology that sucks carbon out of the atmosphere—many others actually save companies money.
The same goes for vehicle fleets. No matter how large or small the fleet, more fuel-efficient vehicles mean lower costs. And that’s been the case well before EVs became widespread. For example, a fleet efficiency program prioritizing diesel-powered trucks that use less fuel that Walmart wrapped in 2015 saved the company $1 billion annually and made their trucks twice as efficient. Now, the company is exploring how to electrify its fleet.