Nike, Coca-Cola, 3M Make Shortlist for Gigaton Awards

More than two dozen of the world's largest companies made the shortlist for the Gigaton Awards based on their leadership and efforts to reduce their greenhouse gas emissions.

The nonprofit Carbon War Room will name the winners of the first annual Gigaton Awards on December 4 in a bid to lend honor and prestige to companies taking the lead in reducing their environmental impacts. The awards, which aim to be the environmental equivalent of the Oscars, hosted at the upcoming World Climate Summit, to be held at the same time as the UNFCCC climate change negotiations in Cancun.

"We came together in Copenhagen a year ago to highlight the fact that business must lead in the fight against climate change," Sir Richard Branson, co-founder of the Carbon War Room, said in a statement today. "This year we are taking this responsibility to the next level by focusing on solutions that target specific sectors and to showcase the business community's leadership in achieving gigaton-scale carbon reductions around the world."

The Gigaton Awards are rooted in the Gigaton Throwdown, a Clinton Global Initiative launched in 2007. The project investigated the technology solutions needed to achieve an annual emissions reduction of at least one gigaton by 2020, including biofuels, geothermal and plug-in hybrid electric vehicles.

The nominees for the Gigaton Awards include well-known global firms including Toyota, Pansonic, Sony Corp., Anheuser-Busch, Kimberly Clark, General Mills, and Vestas. They hail from seven industries: consumer discretionary, consumer staples, energy, industrials, telecommunications and utilities.

They were selected for their success in reducing greenhouse intensity between fiscal 2008 and 2009, based on reported Scope 1 and Scope 2 emissions to the Carbon Disclosure Project. Greenhouse gas intensity is defined as greenhouse gas emissions per dollar of revenue.

The reported emissions reductions must be attributable to efficiency and process improvements, rather than economic conditions, divestitures or changes in reporting methodology.

The full list of nominess include:

Consumer Discretionary
Toyota Motor
Walt Disney Company
Sony Corporation

Consumer Staples
The Coca-Cola Company
Anheuser-Busch Inbev
Kimberly Clark
General Mills
Reckitt Benckiser Group

GE Wind
Siemens Wind

MTR Corporation

American Tower
Verizon Communications
Vodafone Group

Chubu Electric Power (Japan)
Snam Rete Gas (Italy)
GDF Suez (France)
Kansai Electric Power (Japan)
Electricite de France (France)