A recent Guardian article reports that many well-known companies using renewable energy are setting aggressive corporate sustainability goals for the energy they consume—some even committing to run their organizations entirely on renewables in just a handful of years.
Driven by declining prices—especially in the solar sector—large brands such as Walmart, Google, HP and IKEA are moving away from nonrenewable energy and setting relatively short-term goals of using only renewable sources.
From the article:
For corporations looking to accelerate their adoption of renewable power, this is a pivotal moment. The steady drop in price for renewable energy—solar alone has dipped more than 50% since 2008—means that renewables are an obvious and common approach to corporate sustainability. Several companies have noted the financial benefits as well: relying on renewable sources means they can worry less about the kind of energy price instability the fossil fuels markets can create, an effect they say will only grow as the renewables sector matures.
As the businesses individually work to reach their goals, an important factor to help ensure success seems to be the support of coalitions and initiatives that provide guidance and camaraderie. Among these initiatives:
- The RE100 campaign features Fortune 100 companies such as Google, Starbucks and Goldman Sachs and works to eliminate barriers to adoption.
- The Corporate Renewable Energy Buyers’ Principles group, created by Walmart and 11 other companies, offers plans and ideas to help corporations transition.
- The Rocky Mountain Institute (RMI), a Colorado-based organization, focuses on finding market-based solutions to environmental problems.
- RMI’s Business Renewables Center provides guidance to companies pursuing renewable energy use.
With plenty of support, companies are finding that they can reach their goals faster and easier than ever before.