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#1 2020-08-12 21:12:35


Corporate America's Investments In Clean Energy Fell 30% So Far This Y

Corporate America's Investments In Clean Energy Fell 30% So Far This Year
New data shows the risk of leaving an overdue energy transition to companies.

https://www.huffingtonpost.ca/entry/cle … c99fe1b0a7

Corporate deals to buy clean electricity decreased by nearly 30% in the U.S. this year as the pandemic’s economic shockwave widened, highlighting the need for dramatic government intervention to cut planet-heating emissions from the power grid.

Between January and July, U.S. companies signed deals to buy just 4.3 gigawatts of clean electricity, down from 6 gigawatts during the same period in 2019, according to a new study released by the research firm BloombergNEF on Tuesday.

The numbers reflect both the effect of the coronavirus and the degree to which specific industries dominated corporate clean-energy purchases.

“A lot of these are not energy companies, and they have so many other things these companies need to focus on beyond sustainability,” Kyle Harrison, a senior associate at BloombergNEF and co-author of the report, said by phone. “The pandemic highlights the fact that, right now, when there are other components of the company that are compromised, that’s what’s prioritized over sustainability.”


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