SWEET DEAL SEES MARS AUSTRALIA HIT 100% RENEWABLE ELECTRICITY
2 March 2021: Mars Australia has become one of Australia’s first companies to be powered...Read more
5 Dec 2019
Globally, companies and institutions are seizing opportunities afforded by the tumbling price of renewable energy, along with consumer and stakeholder expectations, to reengergise their operations with 100% renewable energy.
Recent years have seen significant investment in renewable energy from corporate Australia, with factors driving investment including high retail electricity prices, the ever-lowering cost of renewable technology, increased awareness of climate-related risk, as well as staff and customer demand.
Greenpeace Australia Pacific’s new report The Corporate Race to 100% Renewable Energy analyses this trend, providing information on what is happening on the ground, while pointing to some of the reasons that companies are investing in renewable energy.
Around the world, over 210 major companies have made commitments to 100% renewable energy, with over 80 of these operating in Australia. After the five largest banks in Australia pledged to power their operations with renewable energy, companies committed to 100% renewable electricity now represent almost a quarter of the value of the Australia Stock Exchange (ASX).
Eighty big-name companies and institutions are analysed across seven major industry sectors. A story is revealed of momentum, opportunity, and expectation – most are investing in renewable energy, many have already signed major power purchasing agreements, and with increasing regularity, companies are making commitments to power their operations with 100% renewable energy.