Power Forward: Why the World's Largest Companies Are Investing in Renewable Energy
January 11, 2013
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Through two dozen interviews with Fortune and Global 100 executives and analysis of public disclosures, the report finds that clean energy practices are becoming standard procedure for some of the largest and most profitable companies in the world. Among key findings, the report shows that:
- 102 companies from the combined 171 companies in the Fortune 100 and Global 100 have set GHG reduction goals (60 percent)
- Of those, 24 companies have set specific goals for renewable energy use (14 percent), with others using renewable energy to meet their GHG goals.
- Many companies are shifting from purchasing short-term, temporary Renewable Energy Credits (RECs) to longer-term investment strategies like Power Purchase Agreements (PPAs) and on-site projects, indicating a long-term commitment to renewable energy and reaping the benefits of reduced price volatility.
The report documents key barriers companies face in deploying more renewable energy as well as best practices, drawing from over 20 company interviews. The report also includes recommendations for governments and business.