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Vestas, EP Global Energy partner for donor-funded wind farm in Jordan

Vestas, EP Global Energy partner for donor-funded wind farm in Jordan

Wind turbine manufacturer Vestas and private energy asset developer EP Global En...

World Bank commits $5 billion for African renewable energy projects

World Bank commits $5 billion for African renewable energy projects

The World Bank Group has committed US$5 billion towards supporting energy projec...

Seven creative ways to teach your kids about eco-living

Seven creative ways to teach your kids about eco-living

According to Bureau of Labor Statistics, 3.1 million jobs in the United States w...

$50 million A.D.B. loan to develop Indonesia’s geothermal potential

$50 million A.D.B. loan to develop Indonesia’s geothermal potential

The Asian Development Bank will provide Indonesia a loan of up to $50 million to...

Iberdrola completes its first three renewable energy projects in South Africa

Iberdrola completes its first three renewable energy projects in South Africa

Iberdrola has completed two wind farms and a photovoltaic power plant in South A...

Former Irish president appointed as special envoy for climate change

Former Irish president appointed as special envoy for climate change

Former Irish President Mary Robinson has been appointed by United Nations Secret...

The truth about the forthcoming endangered cities

The truth about the forthcoming endangered cities

Gone are the days when the term ‘endangered’ was being cascaded to animals or di...

Business

Technology

Burning trash still major global contributor to air pollution

Burning trash still major global contributor to air pollution

Wednesday, 03 September 2014

Around 40 percent of the world’s garbage is still being disposed of by burning, affecting both human health and climate change. According to a study b...

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Politics

Living Green

Designing an eco-friendly kitchen

Designing an eco-friendly kitchen

Saturday, 06 September 2014

If you want to go green, you have likely thought about things like solar panels and recycling, but have you considered your kitchen? Your kitchen prov...

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Renewables

Small island developing states to lead the way to green energy transition – U.N.

Small island developing states to lead the way to green energy transition – U.N.

Saturday, 06 September 2014

Small island developing states, despite still being heavily reliant on fossil fuels, could turn things around and lead the way towards green energy tr...

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Low-Carbon

Aleees, Sony to build electric buses in Taiwan

Aleees, Sony to build electric buses in Taiwan

Saturday, 06 September 2014

Taiwanese electronic bus manufacturer Aleees will be teaming up with Sony to develop a new electric bus. Beginning this September, Aleees and Sony agr...

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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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