The momentum is building around companies putting sustainable practices into action.
In July, 12 companies signed on to the Corporate Renewable Energy Buyers’ Principles in an effort to increase their access to renewable energy. Now, seven new companies have joined the coalition, bringing the total to 19 large global brands with a combined renewable energy demand of more than 10 million megawatt-hours (MWhs) per year in the United States alone. That’s enough electricity to power nearly 1 million homes annually.
By declaring their commitment to buying renewable energy, these new companies—3M, Adobe, eBay, EMC, Cisco, Novo Nordisk and Volvo—are not only taking control of their energy costs, but are also helping to reshape markets so other large and small companies can meet their public climate and energy goals.
What Are the Corporate Renewable Energy Buyers’ Principles?
The Principles frame the challenges and common needs of large renewable energy buyers. They emerged from discussions that World Wildlife Fund (WWF) and World Resources Institute (WRI) had with companies about what was slowing them down in meeting their renewable energy targets. Complicated transactions and inadequate options from their utilities emerged at the top of the list.
The companies developed these principles to both state their commitment to renewable power and shine a light on the challenges they face in procuring it. They’re intended to foster a dialogue with utilities, regulators, and other stakeholders to create a marketplace that facilitates greater renewable energy use in the corporate sector.
Here’s what some signatories are saying about why they’re adopting the Buyers’ Principles:
What Are the Challenges Companies Face in Using Renewable Energy?