Two strategies currently deployed by organizations are procurement and trading of energy from renewable sources, for example through Renewable Energy Certificates (RECs), and construction of renewable energy sites. Both concepts have advantages and disadvantages. New jobs are being created in the renewable energy sector, and many corporations are moving towards investing in producing their own renewable energy and, in particular, choosing to build their own wind and solar farms.
Driving change through a corporate sustainability strategy is a constant challenge. However, an impressive 81 percent of CEOs surveyed by U.K. newspaper The Guardian stated that sustainability issues are now “fully embedded” in their companies’ strategies and operations, with many extending this focus to their subsidiaries and supply chains, specifically including procurement and investment in renewable energy sources.
Achieving reductions in energy usage is one of the many tasks that demonstrate a commitment to corporate sustainability. As competition intensifies to be the greenest brand in the marketplace, an overwhelming majority of FTSE 500 companies now voluntarily measure, manage and publicly disclose their carbon emissions; and a collection of high-tech solutions, clean technologies and market tools have evolved in recent years to meet these demands.