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Hong Kong’s policy on environment-friendly commercial vehicles to tighten

Hong Kong’s policy on environment-friendly commercial vehicles to tighten

Hong Kong’s Environmental Protection Department will be tightening its qualifyin...

Philippines’ new wind farms add 303 MW to country’s power supply

Philippines’ new wind farms add 303 MW to country’s power supply

Two new wind farms in the Philippines have added 303 megawatts of clean energy t...

Geneva talks require “business unusual” approach – W.W.F.

Geneva talks require “business unusual” approach – W.W.F.

A “business unusual” approach is needed in the Geneva Talks to successfully deli...

New battery uses old batteries for greener energy storage

New battery uses old batteries for greener energy storage

Energizer has developed the world’s first high-performance battery made with rec...

Global warming to bring more devastating weather patterns

Global warming to bring more devastating weather patterns

The United Nations World Meteorological Organization confirmed that global warmi...

Jamaica to get 36.3 MW wind farm by 2016

Jamaica to get 36.3 MW wind farm by 2016

A 36.3 megawatt wind farm in Jamaica has received $62.7 million in funding from ...

A.D.B. provides Thailand with $85 million to develop wind power plant

A.D.B. provides Thailand with $85 million to develop wind power plant

The Asian Development Bank will be providing a company in Thailand loans to deve...

Business

Georgia taking leadership role in developing solar power

Georgia taking leadership role in developing solar power

Tuesday, 17 February 2015

The state of Georgia is emerging as a leader among the 50 states in promoting and implementing the use of solar energy, in part because of both busine...

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Technology

Penn State develops CPV system for rooftops

Penn State develops CPV system for rooftops

Tuesday, 10 February 2015

Researchers at Penn State have developed a concentrating photovoltaic system that is small enough and light enough to be mounted on a building’s roof....

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Politics

New draft text for climate agreement in Geneva reached

New draft text for climate agreement in Geneva reached

Monday, 16 February 2015

A new climate change draft text has been reached during the one-week United Nations-facilitated Geneva talks, leading to a binding treaty that is expe...

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Living Green

Wall-to-floor eco-friendly interior design

Wall-to-floor eco-friendly interior design

Tuesday, 17 February 2015

The materials you surround yourself with—from flooring and window coverings to furniture and accessories—have a great impact on the health of your hom...

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Renewables

Vestas supplies Poland, U.K. with turbines

Vestas supplies Poland, U.K. with turbines

Tuesday, 17 February 2015

Wind turbine manufacturer Vestas has announced that they have secured orders this week for two projects in Poland and the United Kingdom. The orders c...

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Low-Carbon

PG&E plans ambitious E.V. charger roll-out in California

PG&E plans ambitious E.V. charger roll-out in California

Tuesday, 17 February 2015

An estimated 25,000 electric vehicle chargers could be deployed in California by Pacific Gas and Electric Company. PG&E is seeking permission from Cal...

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Opinion

Unsustainable urban life: What's next?

Unsustainable urban life: What's next?

Wednesday, 11 June 2014

Nutrition plays a critical role in everyone’s chance at a better future. Hunger, said Benjamin Franklin once, is the best pickle. Some say “pickle”...

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Most of world’s largest companies say clean energy is good business

Most of world’s largest companies say clean energy is good business
Business man with suit, backpack and helmet riding rented bicycle in Trafalgar Square in London.

Most of the world’s largest companies initiate and do not take cues from the government in taking efforts to reduce greenhouse gas emissions and employ clean technologies, according to a new study.

“Power Forward: Why the World's Largest Companies are Investing in Renewable Energy,” a report co-authored by environmental group World Wide Fund for Nature, sustainability leadership consultant Ceres and investment management company Calvert Investments, found that majority of Fortune 100 companies have implemented renewable energy and emissions reductions targets.

In an interview with Fortune and Global 100 executives and assessment of public disclosures, it is revealed that 56 percent of them have set up their own emissions reduction goals while 13 percent have set up renewable energy goals.

Hence, these figures proved that many companies are shifting from short-term to long-term commitment to renewable energy, through strategies like Power Purchase Agreement and on-site clean energy projects.

Similarly, the study suggested that clean energy practices are becoming standard procedures for some of the largest and most profitable companies worldwide, including AT&T, DuPont, General Motors, HP, Sprint, and Walmart.

“The world’s largest companies are expanding their use of renewable energy because it makes good business sense – they see the value in diversifying their energy supply, mitigating fuel cost risk, cutting their energy-related emissions, and, in some cases, providing a physical asset with real value for the enterprise,” said Bennett Freeman, Senior Vice President for Sustainability and Research Policy of Calvert Investments.

“We strongly encourage all companies to set renewable energy targets and disclose these commitments, which we believe will help companies—and those who invest in them—address clear risks and seize concrete opportunities,” he added.

However, despite remarkable progress, the report noted that some companies still lag behind due to inconsistent policies.

The report suggested that the United States’ policymakers should promote tax credits or other incentives that level the cost renewable energy sources, specifically the extension of the Production tax Credit for wind energy in the United States, which will expire this year. Additionally, Renewable Portfolio Standards should be adopted in all states and policy hurdles in states that prevent companies from contracting to buy the cheapest renewable power available should be removed.

Mindy Lubber, President of Ceres, said one can truly recognize the “value” when most of the world’s largest companies are investing in clean energy. “It speaks volumes that almost all of these companies set their renewable energy and greenhouse gas goals after the economic downturn, precisely because they understand the economic benefits of efficiency and renewable energy. We encourage lawmakers to support policies that help companies meet and strengthen their clean energy goals.” – Catherine Dominguez



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