Tom Lindberg takes a look at the rising place of renewable energy in the corporate arena and why it is becoming a key initiative on the agenda for big companies.
The global demand for renewable electricity continues to grow at a rapid pace. Much of the demand is driven by an increased sense of urgency among leading international businesses in contributing to combating climate change – by switching from fossil based power to clean, renewable energy.
The backdrop transforming these businesses from being passive bystanders to proactive contributors is closely related to an awakening spurred by the process of establishing the ambitious UN framework of Sustainable Development Goals (SDGs) in September 2016, and the inclusive process of finding common ground for fighting climate change among 195 countries at COP21 in Paris later the same year.
This global backdrop has spurred leading companies across most industries to take charge of their destiny, defining a clear sustainability agenda as critical to their future competitiveness. Waiting for «the others» to lead, is not an option, while “teaming up” to bring a collective weight to the market has become the way to move forward. The last two years have seen numerous initiatives arise – many with similar goals of securing access to renewables to power all operations – in all corners of the world. The most far-reaching initiatives are WeMeanBusiness and the RE100. The RE100 initiative was established by The Climate Group and CDP, and now has 83 corporate members, all having pledged publicly to consume 100% renewable energy; a large majority committed to a 2020 deadline.
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