REenergising Australian business: the corporate race to 100% renewable energy
4 December 2019
A new Greenpeace report analyses the sector-by-sector potential job and renewable energy benefits if 80 of Australia’s top companies moved to 100% renewable energy.
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.
Companies that commit to 100% renewable energy are joining a huge global trend.
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).
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.
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.
The report accompanies the launch of the REenergise: a campaign to shift corporate Australia to 100% renewable energy. And a new ranking website profiling leaders and laggards in the corporate renewable energy race.