Jan. 24, 2013
SAP NEWSBYTE —
(NYSE: SAP) today announced it will join the
with an investment of
EUR 3 million
. The Livelihoods Fund is a carbon investment fund organized as an investment company, with the goal to create social value for rural communities and contribute to their food security through the restoration of their ecosystems. Put in simple words, the fund plants trees, which fights climate change and poverty.
"This investment supports our vision of helping the world run better by improving people's lives," said
, chief sustainability officer, SAP. "It confirms our sustainability commitment of reducing our greenhouse gas emissions to the level of year-2000 by the year 2020, representing a decrease of more than 50 percent. To date, we have achieved a reduction of 18 percent and avoided cost in excess of more than
EUR 220 million
over the last four years."
SAP's carbon reduction strategy is based on three pillars:
- Accelerate the profitable reduction of energy consumption by SAP
- Enhance the purchase of green electricity (currently at 67 percent globally)
- Offset part of its emissions in an innovative way
"SAP is executing across all three pillars to achieve our target reduction," said Peter Rasper, executive vice president of Global Finance Infrastructure, SAP, and SAP representative on the board of directors of Livelihoods Fund. "Through our partnership with the Livelihoods Fund, SAP will not only purchase carbon credits and offset emissions, but we will produce carbon credits. This provides an innovative, affordable and partnership-oriented way to reduce our emissions that will once again underline our leadership in the sustainability space."