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How Do Your Sustainability Targets Stack Up?
2020 marked the beginning of the climate decade – ten years to cut greenhouse gas (GH) emissions in half and achieve net zero by 2050. With companies striving to reach ambitious targets and a growing energy demand, many turn to power as part of their sustainability strategy.
Over 260 multinational companies have committed to 100 percent renewable power through the RE100. Members include corporations like Bank of America, Google, Nestle, AstraZeneca and P&G. Roughly one in five corporations have renewable energy targets and it’s not too late to join them.
Corporate Energy Buying Decisions Move the Market
Despite pandemic challenges and financial constraints, demand for renewable energy continues to rise in the race to accelerate the clean energy transition. Companies in the Commercial & Industrial sector account for about two thirds of the world’s end-use of electricity, and their buying decisions influence others in their industries.
Amazon, Apple, Facebook, Google and Microsoft have always been at the forefront of trying to achieve a zero-carbon future. In 20f tech titans were the top renewable energy buyers in the world. However, over the last two or three years, a more diverse mix of sectors have emerged.
Heavy industrial processes like mining, metals, chemicals and pulp for paper consume the most electricity. Since operations require so much power, becoming more sustainable often starts with shifting from crude oil or coal to electricity from cleaner sources. Some industrial manufacturers want to electrify almost 40 percent of their fleet by 2035. Renewable energy can also make production processes cleaner and more efficient. In addition to environmental considerations, electrification is being driven by social and governance measures, more investor awareness and cost savings.
According to an IBM and National Retail Foundation study, nearly 70 percent of consumers in the U.S. and Canada think it’s important that a brand is sustainable or eco-friendly. With these strong attitudes, it’s no surprise that retail and consumer staples are prioritizing renewable energy. Walmart ranks in the top six of large U.S. energy buyers with a robust plan to eliminate Scope 3 GHG emissions from their supply chains and Target wants to install rooftop solar panels on 500 buildings and be 100 percent renewable overall by 2020.
Hospitals, health services and medical supply chains across the world’s major economies generate around 4 percent of global CO2 emissions – more than aviation or shipping. Pharmaceuticals, biotech and healthcare are shifting to renewable energy as energy costs continue to rise and government regulations target carbon emissions.
Progress Matters & Energy Partners Play a Pivotal Role
RE100’s most recent Annual Report found that 2028 is the average target date for members to achieve 100 percent renewable electricity. Even without policy changes and regulatory requirements, organizations are working to integrate more renewable energy. Forty-four percent of RE100 members are now engaging suppliers to hit their targets through buying reliable and affordable clean electricity.
However, the quest to become more sustainable goes beyond supply and should include credible, experienced partners. Energy Strategists recommend renewable solutions that fit your business needs and serve as a source of information and support. They help build renewable energy solutions into your company’s sustainability plan to maximize the positive impacts for you and your business.
Renewable Energy Offers Several Co-Benefits
Beyond the altruistic aspect of reducing emissions, renewable energy offers several competitive advantages.
Renewable energy and efficiency solutions can:
- Lower energy bills, deliver cost savings and create better cost stability
- Manage risk by increasing resilience against regulation and price volatility
- Help attract and retain employees who want to work for a socially responsible company
- Fulfill customer expectations and retain customers
- Meet investor standards for sustainable investing
Clean energy has the win-win potential to make your business more competitive and make a positive environmental impact. Explore how you can leverage renewable solutions to benefit your business and create a better future.
About Direct Energy Business
Your energy needs are unique. It’s time you had an energy supplier that treats you like it. From small businesses to large enterprises, organizations need solutions to buy and use energy in ways that meet their unique needs. Direct Energy Business is the energy supplier with tailored plans and solutions for operations of every size.
They are committed to leveraging their size and strength to deliver solutions that help make their customers’ businesses better across North America’ energy markets. Direct Energy Business serves commercial and industrial customers in 24 U.S. markets and eight Canadian provinces, providing electricity and natural gas supply and energy management services. They are part of Direct Energy, North America’s largest competitive retail energy supplier, serving more than five million customers across North America.
About Broker Online Exchange
Broker Online Exchange (BOX) is the largest and most flexible retail energy network in North America. We satisfy the needs of commercial customers, energy brokers, and affiliates by providing direct access to North America’s top suppliers, markets, personalized support and payment plans.
For commercial energy customers, BOX offers access to the largest and most experienced broker network in the country. We connect customers to professional, specialized energy brokers will help satisfy your energy needs with the industry’s best prices. With over 47,000 customers served across every market and industry, we know how to help each customers’ specific industry and market combination like no one else.
If you have any questions about our industry-leading energy consultant partnership, referral partner opportunities, or have a commercial property and are looking to save on energy bills, please contact us today!