Fortune 500 companies are at an all-time high in terms of value – some $17+ trillion dollars as of this time last year. The explosive growth of tech businesses in particular, Google, Amazon, Apple and many more, has set the standard for modern capitalism in terms of profits and advancement up the Fortune list. But one key to success for these companies has flown relatively under the radar: the sustainability-driven push towards using renewable energy.
This past March, the American Council On Renewable Energy (ACORE) used day one of its annual National Renewable Energy Policy Forum to highlight the work being done by corporate leaders to power their operations increasingly using clean, renewable energy. With over 150 companies having signed the White House’s American Business Act on Climate Pledge – covering $4.2 trillion in annual revenue and a combined market capitalization of over $7 trillion – Corporate America's commitment to clean energy is undeniable and growing rapidly. ACORE’s Corporate Procurement Working Group Executive Meeting: “Advancing Corporate Energy Solutions,” hosted many of these businesses, and highlighted several critical challenges and opportunities ahead of the sector as this trend continues.
On March 11, 2016, Governor Kate Brown of Oregon signed the Clean Energy and Coal Transition Act. This legislation eliminates coal from Oregon’s energy portfolio and requires the state’s largest utilities to generate 50 percent of their electricity from renewable energy resources by 2040. The legislation also requires utilities to propose investments in electric vehicle (EV) charging infrastructure. The simultaneous transition to renewable energy power generation and the electrification of transportation is a win-win for Oregon, utilities and energy customers. It ensures the benefits of renewable energy power generation, including carbon reduction and cleaner emissions, are multiplied across the transportation sector.