There is a strong renewable energy target set by almost fifty percent of the major companies of the US. As per the report, sustainable investors and environmental groups along with World Wildlife Fund have planned together for taking up this initiative in order to generate clean and green energy.
It’s not just the biggest companies that are planning to achieve this target, but also many small companies (around 100 members from the fortune 500 group) are in the race to save the environment. This shows that the demand for renewable energy among various U.S. companies is growing quickly.
As per the report by WWF, Ceres, Calvert Research & Management and CDP among 500 fortune companies, 100 companies confirmed that there is a total saving of $3.7 billion per year. At the same time, the energy they are getting is very clean, which is an added advantage.
Marty Spitzer, WWF’s senior director of climate and renewable energy informed that the saving is huge in number and in the coming years the production will be increased in order to meet the requirement. At the same time, revenue generation will also take place simultaneously.
Bloomberg New Energy Finance informed that in the year 2015, corporations purchased 3.7 gigawatts of power and for the year 2016, it took around 2.5 gigawatts of power, which was generated only from clean energy projects like wind and solar power plants.
Information Technology companies like Alphabet Inc. have planned to run the entire company on clean energy for the current fiscal year. Big IT giants like Apple Inc. have given a green signal to buy the total output of clean energy from the 200-megawatt solar project, which is located at Nevada.
One of the renowned software companies Salesforce.com Inc., which is located at San Francisco, announced that they are the only company to have reached net-zero greenhouse gas emission and will continue the same for years to come.
Patrick Flynn, Director of Sustainability at Salesforce informed that their company is planning to meet 100 percent of required energy from renewable energy. He also added because of the wind projects in West Virginia and Texas, they have made great progress.
To save the environment, not only IT Tech companies, but also 63 percent of Fortune 100 companies have come forward to use clean energy and have also set a target to use maximum renewable energy, thereby reducing greenhouse gas emissions.
According to a source, 190 Fortune 500 companies confirmed that by the use of renewable energy, huge emission reduction is taking place, which is equivalent to 45 coal-fired power plants. On the other hand, 23 Fortune 500 companies have already set a target of using 100 percent renewable energy right from the current year.