Today’s Speakers: Bryn Baker Senior Program Officer, Climate Change World Wildlife Fund Ellen Kennedy Manager, Environment and Climate Change Calvert Investments Anne Kelly Co-Director, Policy Program & Director, BICEP Ceres Rick Needham Director, Energy & Sustainability Google Rob Threlkeld Manager of Renewable Energy General Motors March 21, 2012
Power Forward: About the Organizations Calvert Investments – An investment management company with managed assets of more than $12 billion Ceres – A non-profit advocate for sustainability leadership in business and investing World Wildlife Fund – World’s largest conservation organization, partnering with business for innovative changes Power Forward: Why the World’s Largest Companies are Investing in Renewable Energy
Timing of Commitments in Fortune 100 and Global 100 Companies with GHG and RE Targets
Why Are Companies Buying Renewable Energy? 1.Lock in long term energy price stability 2.Reduce energy cost 3.Diversify energy supply 4.Meet GHG reduction goals 5.Demand from investors and customers 6.Demonstrate corporate leadership Power Forward: Why the World’s Largest Companies are Investing in Renewable Energy
Largest Barriers Identified by Companies 1.Cost of renewable energy 2.Internal competition for capital 3.Inconsistent policy Inconsistent incentives and regulation Barriers to 3 rd party PPAs Lack of level playing field Power Forward: Why the World’s Largest Companies are Investing in Renewable Energy
Recommendations for Companies Companies should : Set time-bound GHG targets and ideally also RE targets Be transparent about the role renewable energy plays in meeting their GHG targets Support local, state and national policy that enables renewable energy Power Forward: Why the World’s Largest Companies are Investing in Renewable Energy
Recommendations for Policy Makers Policies should : Create a level playing field with traditional fuels Advance state and federal Renewable Portfolio Standards Enable power purchase agreements (PPAs) and encourage on-site renewable power generation Set a price on carbon and other negative externalities Power Forward: Why the World’s Largest Companies are Investing in Renewable Energy
Strong Business Support for PTC “Extending the PTC lowers electricity prices for all consumers, keeps America competitive in a global marketplace and creates homegrown American jobs.” - September 18, 2012
Contact Information on the Report Bryn Baker World Wildlife Fund Ellen Kennedy Calvert Investments Anne Kelly Ceres