Corporations’ commitment to clean energy

Corporations’ commitment to clean energy

In 2020, some energy projects were being curtailed as a result of the Covid-19 pandemic. However, corporate entities purchased clean power totalling 23.7GW via long-term agreements. This is according to the Bloomberg NEF report that they published on 26th January. The report shows that over 130 companies in various industries, from gas and oil exploration to the technology sector, inked the clean power contracts.

The report was released a day after 36 companies from the US revealed a joint statement urging the federal government to ensure the zero-carbon transition is a national priority. Some of these companies were Walmart, Target, Amazon, General Motors, Google, Facebook, PepsiCo, and Microsoft.

Miranda Ballentine, Renewable Energy Buyers Alliance (REBA) CEO, said that clean power gives a better chance for the country to recover from coronavirus pandemic, racial reckoning, and climate disasters. REBA is an organization advocate and represents many large American energy buyers. Ballentine says that some policies can help economic growth by creating high-wage jobs and developing a future power system. President Joe Biden’s administration is expected to act with speed to help rebuild the economy and handle the climate crisis. Iconic businesses are ready to work together with Biden’s administration to ensure the zero-carbon vision is achieved.

EY, a global entity of multinational accounting firm Ernst & Young, announced that all its operations would be carbon negative this year. On Monday, the company announced that in December 2020, it attained carbon neutrality, and it targets to get rid of more carbon compared to what it emits in 2021. Other company’s goals for the year include assisting customers in decarbonizing their businesses, reducing business travel, and adjusting the structure of power supply agreements.

EY global chairman and CEO Carmine Di Sibio said that curbing climate change will help build a better living and working world. He added that he is happy with the organizations that are setting goals irrespective of the challenges they face. Carmine said that EY is committed and passionate to handle even immense difficulties whenever they come their way. He noted that the 300000 members would help the company’s customers to transform in sustainability leadership.

So far, many companies and organizations are committed to embracing social, environmental, and governance so as to attain sustainability in what they do. Clean energy would help the world in economic growth by creating many jobs for both professionals and youths. It will also help fight climate change by decreasing greenhouse gas emissions to enable countries to achieve their carbon neutrality and net-zero carbon.