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Climate Rally reaches 310,000 participants

Climate Rally reaches 310,000 participants

The number of people who joined the People’s Climate March this September 21 rea...

China takes big step in reducing ozone depleting gases

China takes big step in reducing ozone depleting gases

China has taken a big step towards reducing its hydrochlorfluorocarbons by closi...

Ozone layer on road to recovery – U.N.E.P., W.M.O.

Ozone layer on road to recovery – U.N.E.P., W.M.O.

The ozone layer is on the road to recovery, but unified action is still needed t...

Green vacation: Go on an eco-friendly safari

Green vacation: Go on an eco-friendly safari

The primary goal of modern-day eco-friendly African safaris is to lessen the ove...

Nepal, the Maldives, and Bhutan could lose around 2 percent G.D.P. due to climate change – A.D.B. report

Nepal, the Maldives, and Bhutan could lose around 2 percent G.D.P. due to climate change – A.D.B. report

Nepal, the Maldives, and Bhutan could be looking at economic losses of around 2 ...

South Asian countries face economic losses due to climate change – A.D.B. report

South Asian countries face economic losses due to climate change – A.D.B. report

Various countries in the South Asian region are looking at significant losses du...

World Bank aids Laos’ hydropower with $40 million in financing

World Bank aids Laos’ hydropower with $40 million in financing

The World Bank Group has inked two agreements for around $40 million in financin...

Business

Technology

Using a magic ratio for better, stronger and greener concrete

Using a magic ratio for better, stronger and greener concrete

Monday, 29 September 2014

A small modification to the contents of cement mix could lower the carbon emissions of the construction sector and result in stronger, more durable co...

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Politics

I.D.B., E.U., Spain to support renewable and efficient energy in the Caribbean

I.D.B., E.U., Spain to support renewable and efficient energy in the Caribbean

Monday, 29 September 2014

The Inter-American Development Bank, the European Union, and the Kingdom of Spain have inked a joint declaration that reaffirms their collaboration in...

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Living Green

Is apartment living more eco-friendly than a house?

Is apartment living more eco-friendly than a house?

Tuesday, 30 September 2014

For those that are looking to limit their personal impact on the environment, choosing the right home may be one of the hardest decisions they have to...

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Renewables

Solar power could be leading source of electricity by 2050

Solar power could be leading source of electricity by 2050

Tuesday, 30 September 2014

Solar power could overtake all other sources of electricity by 2050, according to two reports released by the International Energy Agency. Based on th...

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Low-Carbon

FedEx Trade Networks brings down its carbon footprint with solar-capable building

FedEx Trade Networks brings down its carbon footprint with solar-capable building

Sunday, 28 September 2014

A new environmentally-friendly office and distribution facility in New York is helping FedEx Trade Networks bring down their carbon footprint. The bui...

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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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