Driving Climate Action: The Crucial Role of Businesses in Shaping Policy and Renewable Energy Demand
Key Ideas
- Businesses play a vital role in leading the way towards sustainability, influencing government policy, and catalyzing action by advocating for policy changes and demonstrating commitments to sustainability.
- Companies can drive demand for renewables by purchasing renewable energy, engaging with energy suppliers, self-generating electricity, and entering into power purchase agreements, contributing to the decarbonization of the grid.
- Countries that make it easier for corporates to use renewable electricity attract global companies looking to invest or expand, as renewable power availability becomes a significant factor in decision-making processes.
- Collaboration between businesses and policymakers is essential to achieving global renewable energy goals, requiring dialogue, setting targets, identifying barriers, and developing joint plans to drive progress towards the tripling goal of renewable capacity.
The article highlights the critical role businesses play in driving climate action and shaping policy to transition towards a more sustainable economic model. Thomas Lingard, Global Head of Sustainability at Unilever, emphasizes the interconnectedness between business action and government policy, stressing the need for businesses to take the lead and set the direction for policy-making. Businesses can influence the demand for renewables by purchasing renewable energy, engaging with energy suppliers, and investing in self-generation or power purchase agreements. Additionally, countries that facilitate corporate access to renewable electricity attract global investments. Collaboration between businesses and policymakers is essential to achieve global renewable energy goals, requiring alignment on targets and plans. The article emphasizes the importance of dialogue, setting ambitious targets, identifying barriers, and developing clear strategies to maximize ambition and ensure a collective effort towards the tripling goal of renewable capacity. Companies are encouraged to use their influence to advocate for climate action and work towards a more sustainable future.