Published on December 19, 2019 by Binayak Ransingh
There was a time when it was said ‘The business of the business is only to do business”. But the increasing awareness for climate change has forced businesses to adopt doing green business. Sustainability has transformed from a concept to a business strategy. We have multiple examples where companies have shown that sustainability can reap profits. Today, every nation is actively working to promote green energy as well as encouraging players from various sectors to decarbonize their operations. Subsidies, favorable regulatory mechanism and renewable energy adoption policies have accelerated the green economy growth.
2018 will be remembered as the year was 1.5 degrees Fahrenheit warmer than the 1951 to 1980 mean and also the year ranked the 4th warmest since 1880. But the better part of the year is that, the corporate movement for renewable electricity started its pace and businesses have started transforming their traditional approach for revenue generation to sustainable approach. The falling renewable energy cost and stronger CSR concerns have encouraged companies to consider renewable energy as an asset which can provide real competitive advantage. World’s two third of the electricity is consumed by the companies and it is their responsibility to bring in clean energy systems for tomorrow.
In 2014, the Climate Group in association with the CDP Global launched RE100 mechanism in Climate Week NYC 2014, to bring in all the global players together to comitt for 100% renewable energy utilisation for their operation across the globe. More than 155 companies joined the movement and created opportunity of more than 188 TWh of renewable power annually.
» In 2018, majority of the companies participating in the RE100 mechanism are based in US, having a share of 33%, followed by UK and Rest of Europe having 29 companies and 25 companies respectively
» In Japan, the number of companies participated in the RE100 movement has witnessed highest y-o-y (333.3%) in 2018 and the organizations are taking active initiative to promote and influence other Japanese companies to adopt renewable energy
CASE STUDIES ON KEY CORPORATE INFLUENCERS
Companies are actively participating in the RE100 mechanism across the globe to transform their existing business to renewable energy dependent business. But renewable markets vary significantly around the world, hence business leaders are taking multi-dimensional approach to meet their ambitious targets. Here at Acuity Knowledge Partners, the Energy & Utilities team has been actively supporting its clients to adopt the transformation happening around different geographies. The team has supported its partners in various areas such as market and competitive intelligence, strategy research, financial modelling, M&A support, valuations, and supplier management research support. The team has already executed projects on trending themes such as smart grid, renewable energy, EV and charging infrastructure, small-scale LNG, process automation, home generation, and connected homes.
What's your view?
Thank you for sharing your Comments
About the Author
Binayak Ransingh is an Energy & Utilities practice lead in Acuity Knowledge Partners’ Private Equity & Consulting vertical. He has over six years of experience in the power and utilities sector, helping clients with various consulting and business research projects involving market assessment & intelligence, competitive benchmarking, market entry & expansion strategy, technology impact analysis, and business model analysis. Binayak holds an MBA in Power Management and a bachelor’s degree in Power System Engineering.
Analysing behaviour of corporate executives by i....
An emerging trend in the global quantitative research space is the systematic determinatio....Read More
Climate targets and ESG push in China....
The environmental crisis is upon us, and there is global consensus that inaction today wil....Read More
Internal carbon pricing: An emerging approach to....
In the wake of rising awareness and concern over the social cost of business, an internal ....Read More
COVID-19: Disrupting the global energy transi
The COVID-19 pandemic has disrupted the global economy significantly. It is reported to ha....Read More
Energy storage systems (ESS) – Paramount fo
The 2015 United Nations Climate Change Conference in Paris accelerated the integration of ....Read More
The tug of war in the EV charging ecosystem
Burgeoning growth of the global EV market has led to a revolution in the automotive and en....Read More
Like the way we think?
Next time we post something new, we'll send it to your inbox