Renewable energy : The year of the tipping point
2011 was the year of the tipping point for renewable energy. For the first time ever, global investment in renewable energy outpaced global investments in fossil energy. More and more worried about climate change big business is leading the trend.
The story remained amazingly unnoticed but global investment in renewable energy capacity hit $237 billion in 2011. For the first time ever, the total of renewable investments in the world outpaced the $223B invested in new fossil fuel capacity globally that same year, according to new data prepared by Bloomberg New Energy Finance for Vestas. Read the story HERE
Even more remarkable, this switch took place at a time when massive investments are made in shale gas. No doubt renewable is becoming main stream and this trend is led by big companies that are more and more interested in developing renewable energies. Read the story HERE
In the US so far, the top 20 solar energy corporate users have installed enough solar power to power all Florida’s households. Look at the slide presentation HERE
What triggers this revolution is businesses’ growing concern over climate change. More than three-quarters (81 percent) of the world’s largest public companies that report their greenhouse gas (GHG) emissions data and sustainability strategies now include physical threats and disruptions from climate change according to a new analysis from the Carbon Disclosure Project (CDP). Read the story HERE
What’s more? 37 percent of the 405 companies reporting to CDP list those factors as a serious threat, up from 10 percent in 2011. What is new is that this interest in climate change is now strongly linked to companies’ best business interest as stated by AXA in CDP’s 2012 climate change report: “These [climate change] initiatives are intended to develop a competitive advantage by better incorporating environmental considerations into AXA’s products, tap into new markets as well as reduce operational risks and enhance AXA’s image and reputation.” Download CDP’s report HERE