European Companies Becoming More Green and Reaping Big Profits (14-Sep-07)
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Full article: European Companies Becoming More Green and Reaping Big Profits (14-Sep-07)
A rising number of European companies are switching to renewable energy, with many admitting they are, as a result, experiencing huge bottom-line advantages such as reduced greenhouse gas emissions and diversification of energy sources to hedge against fossil fuel price-hikes, while strengthening customer relationships and brand differentiation.
The Green Power Market Development Group—Europe, which includes IBM as a member, is one of the biggest leaders in the global push for greener energy. The group has recently announced the completion of its first 100 megawatts of green power projects at 50 corporate facilities across 16 European countries.
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Lausanne, Switzerland, (AHN) - A rising number of European companies are switching to renewable energy for their manufacturing plants, stores and office facilities. The energy source is making headlines for allowing more companies than ever to fuel their operations while at the same time allowing an increasing number of business to benefit by the process.
The Green Power Market Development Group - Europe (GPMDG-EU) is one of the big leaders in the global push for cleaner energy. On Friday it announced the completion of its first 100 megawatts (MW) of green power projects at 50 corporate facilities across 16 European countries.
"Working together, some of Europe's largest energy users are demonstrating the business case for renewable energy, setting an example that other companies can follow," said Jonathan Lash, President of World Resources Institute. "They are helping accelerate society's transition towards a diversified, sustainable and clean energy future."
The projects draw upon a variety of renewable energy technologies, including 46 MW of utility-supplied green power purchases, 40 MW of on-site biomass thermal energy, 9 MW of on-site wind power, 2 MW of on-site solar thermal, 2 MW of biomass power, and 1 MW of Renewable Energy Certificates (RECs) and geothermal heat pumps. They total 100 MW in generation capacity and produce the equivalent of approximately 500 million kilowatt-hours per year--enough to power more than 110,000 European households.
Companies that have answered the call for using renewable energy are tauting the advantages. Despite the added ecological benefits many critics say that being more green can be unsightly, unreliable and not cost effective.
However a number of companies are saying the opposite and admit huge bottom line advantages, including reduced corporate greenhouse gas emissions, diversification of energy sources to hedge against fluctuating fossil fuel prices, as well as strengthening customer relationships and brand differentiation.
"Renewable energy plays an important and growing role in helping companies reduce their environmental impact whilst boosting profitability and competitiveness," said Steve Howard, CEO of The Climate Group.
Members of GPMDG-EU include BT, Dow, DuPont, General Motors, Holcim, IBM Europe, IKEA, InterfaceFLOR, Johnson & Johnson, Michelin, Nike (Customer Service Centre), Staples, Tetra Pak and Unilever. John Harris, IKEA Goes Renewable Project Manager, said, "To get this far has required lots of information sharing and inspiration. Now we have to make renewable energy our first choice and use fossil fuels as the last resort."
Renewable energy utilizes natural resources and encompass sunlight, wind, tides and geothermal heat, which are naturally replenished. The technologies and power harnessed range from solar power, wind power, and hydroelectricity to biomass and biofuels for transportation.
Nearly 13 percent of primary energy comes from renewables, with most of this coming from traditional biomass like wood-burning. Hydropower is the next largest source, providing 2-3 percent, and modern technologies like geothermal, wind, solar, and marine energy together produce less than 1 percent of total world energy demand. The technical potential for their use is very large, exceeding all other readily available sources.
- Source: All Headline News
