Biggest U.S. Companies Setting More Renewable – Energy Targets RSS Feed

Biggest U.S. Companies Setting More Renewable-Energy Targets

– Corporations bought 2.5 gigawatts of clean energy last year

– Fortune 500 companies saving $3.7 billion with clean power

Almost half of the biggest U.S. companies have established clean-energy targets for themselves, according to a report Tuesday from sustainable investors and environmental groups including the World Wildlife Fund.

It’s not just the biggest U.S. companies — 44 percent of the smallest 100 members of the Fortune 500 have also set goals, up from 25 percent in 2014, and 48 percent of the entire list.

Many are finding that renewable energy isn’t just cleaner, it’s also often cheaper. About 190 Fortune 500 companies collectively reported about $3.7 billion in annual savings, according to Power Forward 3.0, a report by WWF, Ceres, Calvert Research & Management and CDP.

“We’re not talking about anecdotal information anymore,” Marty Spitzer, a WWF senior director of climate and renewable energy in Washington, said in an interview. “We’re talking about large, large savings.”

Potential savings and sustainability goals prompted corporations to buy almost 3.7 gigawatts of power generated by clean-energy projects in 2015, and another 2.5 gigawatts last year, almost all from wind and solar, according to Bloomberg New Energy Finance.

Technology companies are among the biggest buyers of clean energy. Alphabet Inc.’s Google expects to be powered entirely by clean energy this year. In January, Apple Inc. agreed to buy the output from a proposed 200-megawatt solar farm in Nevada to help power a data center in Reno, Nevada. And Inc., the San Francisco-based business software company, this month said it has reached net-zero greenhouse-gas emissions.

Read full article at Bloomberg