The world is making collective steps toward fighting the adverse effects of climate change. In its most recent comprehensive report on climate change, the United Nations pays more attention than ever to the technology industry’s role. Fossil fuels continue to provide roughly 80% of the world’s energy, impeding efforts to reduce carbon emissions and transition to more environmentally sustainable economies. The United Nations cautions that unless significant action is made, global climate change targets would be out of reach by the end of this decade. In a response to this, many countries have signed the Paris agreement. Under this agreement, many countries undertake the goal to enhance the global response to climate change by keeping the global temperature rise this century well below 2 degrees Celsius above pre-industrial levels and pursuing measures to restrict the temperature rise even further to 1.5 degrees Celsius. Green energy companies are one way for the business sector to curb their emissions and keep a watch on their carbon footprint. A green energy company claims to conduct itself in a way that minimizes environmental impact. As global warming accelerates and becomes a more prominent concern among world governments, many businesses are taking steps to become more ecologically responsible, or “green.” This blog will take an in-depth look at what makes a green energy company sustainable and take a look at some of the most prominent green energy companies.
Green Energy Companies: An Overview
A green business can be defined as a type of business that does not negatively impact the environment. These green energy companies are forward-thinking in their business approach when it comes to human rights, environmental concerns, and related issues. These businesses are also responsible for upholding socially responsible business policies.
Green businesses, at their foundation, follow principles that are congruent with what most people consider ecologically benign. Through their actions and choices, green businesses seek to improve the lives of their customers, employees, communities, and the environment.
Features Of Green Energy Companies
What makes a company ‘green’? to understand that we will have to take a look at some of the defining features of the green energy business.
Green Energy Companies Take Responsibility
Green businesses are socially and environmentally responsible. They are continuously challenged to do business in a way that serves both society and the environment. Green businesses strive for economic justice while also working to protect the environment. They also contribute to a better world by encouraging community health and development.
Green Firms are Concerned About Their Employees
Green business owners understand that their employees are critical to their success. They adopt ethical techniques in both hirings and producing their products. Green businesses cherish their employees and pay them fair wages and attractive perks.
Customers Are Protected by Green Energy Companies
Green energy businesses only utilize safe ingredients. They also provide goods and services that aid in the sustainability of agriculture and the discovery of constructive alternatives that benefit the community in which they are based.
Green Energy Companies Benefit Their Communities
Green energy businesses take specific efforts to ensure that their facilities do not pollute the air and water. Their attempts to enhance the community, however, go well beyond that. Green businesses are frequently found in underserved areas such as inner-city communities and rural places.
Their presence and actions contribute significantly to making these areas better and more accessible. They also provide employment opportunities for the residents and allow them to be active consumers in their communities.
Why is Green Energy Important?
Green energy is important because it helps in negating the negative effects of fossil fuels. These types of energy sources are derived from natural sources which are renewable and clean alternatives to fossil fuels. This also implies that green energy emits no or fewer greenhouse gases than its traditional counterparts.
Even if we consider the entire process of procurement of renewable energy and compared it to the procurement process of non-renewable sources of energy, we will observe that it is much more eco-friendly and produces significantly fewer emissions. Because of these reasons green energy is the energy of the future.
Green energy can also lead to stable energy prices because it is often produced locally and is less susceptible to geopolitical crises, price spikes, and supply chain interruptions.
The economic benefits also include the development of jobs in the construction of structures that frequently serve the communities where the workers are working. In 2018, renewable energy created 11 million employments worldwide, and this figure is expected to rise as we attempt to fulfil targets such as net zero.
Examples of Green Energy Companies
Many countries and technology businesses are taking dramatic measures to increase the performance of sustainable energy sources while lowering their production costs. It is effective: Wind, solar, and battery technologies that generate little to no greenhouse gases have made tremendous gains in recent years. Demand for renewable energy is also increasing, and global events such as the Ukraine conflict only strengthen the case against oil.
In 2021, global energy investment will reach a new high of $755 billion, with renewables leading the way. Sustainable fusion has long been touted as a potentially effective instrument in the fight against climate change. Commonwealth Fusion Systems, a company developed out of MIT’s plasma science and fusion centre, is using decades of previous research and venture capital financing to advance this arena.
Another hot topic is batteries. Companies like Form Energy are developing energy storage technology that will enable a 100% renewable power grid. Meanwhile, Moxion Power is assisting heavy sectors such as construction in becoming more environmentally friendly by developing more powerful and dependable portable batteries.
Accelerating The Journey Towards Green Energy Adoption
At Schneider Electric, we are devoted to making innovative solutions for the energy and climate crisis we are facing today. We are a leading force in digital transformation and energy management and automation.
Green Yodha, a sustainability initiative of Schneider Eclectic is set up to encourage and support businesses to join forces together and accelerate the journey towards green energy adoption in the fight against climate change. We are continuously working to improve your environmental impact on the planet. Our sustainability consulting services allow our clients to the changes and opportunities for improvement in their business’s ecological impact.