Go Green Cyber Gear


 

 
 

Follow Us On Twitter    Become A Fan On Facebook    Visit Our Instagram Page   Network With Us on LinkedIn    Subscribe To Our News Alerts


Go Green Pledge

Download Go Green Widget

Download Go Green News Ticker


Hosted on Green Server Hosted on Green Server
Go Green An Ekotribe Initiative

Green Stories
Change text size:
Corporate Sourcing of Renewables Growing, Taking Place in 75 Countries
Send  your comments Send your comments Green Stories

Corporate Sourcing of Renewables Growing, Taking Place in 75 Countries

Sponsored Sites
Shop Online for
Eco-Friendly Products
Cyber Gear

Companies in 75 countries actively sourced 465 terawatt hours (TWh) of renewable energy in 2017, an amount close to the overall electricity demand of France, according to a new report from the International Renewable Energy Agency (IRENA). With the continued decline in the costs of renewables, the report suggests, corporate demand will continue to increase as companies seek to reduce electricity bills, hedge against future price spikes and address sustainability concerns.

Corporate Sourcing of Renewables: Market and Industry Trends, the first global assessment of trends and policies in corporate sourcing of renewables, shows that renewable energy sourcing by private sector companies, made possible with the right policy framework in place, can be a key factor in the world’s pursuit of a sustainable energy transformation in line with the objectives set out in the Paris Agreement.

According to the report, environmental and sustainability concerns, social responsibility and reputation management and economic and financial objectives are the three primary drivers of corporate sourcing.

“Renewable energy sourcing has become a mainstream pillar of business strategy in recent years,” said IRENA Director-General Adnan Z. Amin. “While environmental concerns initiated this growing trend, the strengthening business case and price stability offered by renewables can deliver a competitive advantage to corporations, and support sustainable growth.”

The findings of the report, presented today at the Ninth Clean Energy Ministerial in Copenhagen, show that half of the over 2,400 large companies analysed are voluntarily and actively procuring or investing in self-generation of renewable electricity for their operations. Of the companies in the study, more than 200 source at least half of their power from renewables. Electricity self-generation is the most common sourcing model, followed by unbundled energy attribute certificates (EACs) and power purchase agreements (PPAs).

“Corporations are responsible for around two-thirds of the world’s total final electricity demand, making them central to, and key actors in, the energy transformation,” continued Mr. Amin. “As governments all over the world recognise this vast potential, the development of policies that foster and encourage corporate sourcing in the electricity sector and beyond will inject additional needed investment in renewable energy.”

The report finds that the corporate sourcing trend is widespread and dynamic, with companies participating in the practice coming from various sectors. By volume, the majority of renewable electricity was consumed in the materials sector while the highest shares of renewable electricity consumption are found in the financial (24 per cent) and information technology (12 per cent ) sectors. Countries in Europe and North America continue to account for the bulk of corporate sourcing.

Of the companies analysed in the report, only 17 per cent have a renewable electricity target in place. Three-quarters of those targets will expire before 2020, representing a significant opportunity for corporates to develop new medium to long-term renewable energy strategies and targets that factor in improvements in renewable energy technology and cost declines

The report is a contribution to the Clean Energy Ministerial “Corporate Sourcing of Renewables” campaign, co-led by China, Denmark and Germany and co-ordinated by IRENA.

View and download the Executive Summary of the report here.











2
 
 
How To Reduce Your Carbon Footprint?
Click here to request a copy of How To Reduce Your Carbon Footprint?
Green Speak
Click here to request a copy of useful Eco Jargon.
Some non green numbers from Go Green
Click here to request a copy of Non Green Numbers by Go Green.
10 Ways to Go Green
Click here to request a copy of 10 Practical Ways to Go Green.
Facts About Global Warming
Click here to request a copy of Facts About Global Warming.
Top 10 Reasons to Recycle
Click here to request a copy of Top 10 Reasons to Recycle.
Carbon Neutrality, Carbon Emissions and Carbon Offsets
Click here to request a copy of Carbon Neutrality, Carbon Emissions and Carbon Offsets.
Go Green at Work
Click here to request a copy of How To Go Green at Work?
Go Green at Home
Click here to request a copy of How To Go Green at Home?
The Power of the sun - Glossary of solar terms
Click here to request a copy of The Power of the sun - Glossary of solar terms.
The Carbon Lexicon - Reduction in emissions of carbon or greenhouse gases
Click here to request a copy of The Carbon Lexicon - Reduction in emissions of carbon or greenhouse gases.
Carbon Emission Stats - Per Country, Per Capita
Click here to request a copy of Carbon Emission Stats - Per Country, Per Capita.
We accept guest posts.
Link to Us Tell A Friend Subscribe to News Alerts


advertise-with-us
 

Go-Green.ae has 2,305 Green Stories, 148 Green Product Reviews, 7661 Green News Headlines , 387 Organisations in the Green Directory, 391 Green Book Reviews, 478 Green Videos, 205 Green Tips and 1728 Go Green Ambassadors in 117 countries.
Green Resources
Another Cyber Gear Site