Enterprise Holdings announced plans to cut energy costs by $50 million during the next five years with its 20/20 Vision program. The car hire giant will reduce energy costs and energy use by 20 percent during the initiative by using an investment in energy-related technologies and conservation practices at its 7,600 locations around the world.
One of the main areas which the company hopes to incur energy savings is through electricity, and has plans to invest $900 at each of its locations, on average, which Enterprise hopes will save up to 70 per cent energy use. The company began the initiative by installing $107,000 worth of energy-efficient lighting at the parking lot of its St. Louis headquarters, which should yield savings of more than $50,000 each year. Enterprise also replaced the parking-lot lights at its administrative office in Southern California at a cost of $20,000, which is expected to save $14,000 annually.
According to Lee Broughton, Enterprise Holdings director of sustainability, reducing energy use not only helps conserve environmental resources, but also saves money for the company. He went on to add that Enterprise encourages its managers to look for innovative ways to create systems which will reduce energy use.
Enterprise also has tree-planting on its environmentally-friendly agenda. According to a company spokesperson, Enterprise Holdings will plant 50 million trees over the next 50 years.