More and more companies are making public commitments to cut greenhouse gas emissions outside of their own operations. Why? Because compared to scope 1 and 2 emissions (from direct activities), avoiding scope 3 emissions can have the greatest impact on a corporate footprint.
The numbers are clear: the majority of GHG emissions come from indirect activities, both upstream and downstream, in the supply chain. In fact, for most of consumer goods products manufacturing, scope 3 emissions account for over 70% of overall GHG emissions. Included is everything from purchasing raw materials to end of life treatment.
Clean energy is on the rise in America, and there’s no denying it. Each year, investments in renewable sources of power continue to increase, bringing with it economic and job growth. In fact, it’s on track to deliver an increasing share of total energy supply, putting traditional energy sources to the side. That’s why organizations across the country are turning to renewable energy as a way to meet their sustainability goals and cut energy costs.
We’re at a time when corporate America is stepping up to the plate on climate leadership. Bigger, more ambitious commitments are being set and bolder targets announced. And renewable energy can be the tool to meet them. But it means the scale and sophistication of clean energy projects must grow. Small-scale, on-site solar installations are not always large enough to generate the quantity of power necessary. So businesses are turning to another route: wholesale renewable energy procurement.
Energy efficiency is a simple, quick and cost-effective method to reduce both costs and greenhouse gas (GHG) emissions. That’s why companies are scaling up their energy efficiency projects in an effort to achieve greater results. And it’s important that they do. Buildings play a considerable role in GHG emissions: Commercial buildings in particular make up roughly 20% of total U.S. energy. So it’s no surprise that optimizing building systems is on the rise.
Between 2006 and 2014, investments in commercial building energy efficiency more than doubled from seven billion to 16 billion, with projects ranging from heating and cooling, to refrigeration, energy management and more.