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What role do multinational corporations play in the promotion of clean energy?

Izaiah Shorton

Hey friend,

Multinational corporations have a significant role in the promotion of clean energy. These companies possess substantial financial resources, global reach, and technological prowess. This places them in a unique position to advance the renewable energy sector through research, development, and investment.

The promotion of clean energy by multinationals is becoming increasingly common. This is because more companies are realizing the importance of sustainability and how clean energy can help them achieve their environmental targets. For instance, a recent report from the Solar Energy Industries Association showed that in 2018, U.S. corporations installed a record 3.5 gigawatts of solar power, a 20% increase over the previous year. This surge was led by companies such as Amazon, Walmart, and Target.

Multinational corporations have invested significant sums of money into renewables through renewable energy credits (RECs) and power purchase agreements (PPAs). RECs allow companies to buy clean energy, which is fed into the national grid, while PPAs allow companies to sign long-term contracts with renewable energy providers. This guarantees an affordable, reliable and sustainable source of energy.

In addition, multinationals are increasingly incorporating renewable energy into their operations. For example, in 2013 Google announced its aim to reach 100% renewable energy use for all its global operations. Five years later, it achieved this target, producing enough clean energy to power all its servers and offices globally.

Moreover, multinational corporations are partnering with governments and other organizations to promote clean energy. Through such partnerships, these entities can work together to create sustainable solutions that benefit the environment, businesses, and the economy. An example of this is the RE100 campaign led by The Climate Group, which focuses on bringing together companies committed to sourcing 100% renewable electricity.

However, it is important to acknowledge that not all multinational corporations are prioritizing the environment equally. There are still a number of companies that continue to contribute to high levels of emissions and environmental degradation. Therefore, it is essential that we continue to advocate for greater investment in renewable energy and pressure businesses to become more sustainable.

In conclusion, multinationals have a vital role to play in the promotion of clean energy. By investing in, promoting, and incorporating renewable energy into their operations, these companies can have a significant impact on both the environment and the economy. Let us continue to support these efforts and urge businesses to prioritize sustainability.

Best regards.