According to a recent report by BloombergNEFthe big technology companies have, in 2021, purchased more clean energy than ever before. Even if they have not yet achieved carbon neutrality, tech companies have massively turned to renewable energies.
Tech giants are increasingly investing in clean energy
Over the past year, tech companies have purchased a record 31.1 GW of clean energy. More than half of the renewable energy purchase agreements concluded by companies have been signed by technology giants such as Amazon, Microsoft, Meta or Google. Investing in clean energy is a strategy used by companies to claim they are carbon neutral. In reality, this is not the case, even though Apple claims otherwise.
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Most of the time, clean energy does not directly power corporate offices or factories 24/7. In other words, most of the contracts signed by American companies, in connection with clean energies, are considered as “virtual contracts”. Kyle Harrison, head of sustainability research at BloombergNEFexplain that “companies like Google, Apple, Microsoft or Meta are pioneers in the purchase of virtual clean energy contracts”. In other words, tech companies still have progress to do to improve their activities.
Amazon takes the reins of the podium
Google has always been ahead on these topics. The Mountain View company has implemented a strategy aimed at achieving its environmental objectives, the purpose of which is to be able to meet its own electricity needs with clean energy 24/7. It is in this perspective that Google is always on the lookout for new investments in renewable energies. For example, Google signed an agreement in May 2021 with the startup Fervo. Objective: to develop a new geothermal project in Nevada, which should eventually supply electricity to the local network that serves Google’s data centers.
However, the Californian company is being caught up by Amazon, Microsoft and Meta. Microsoft was the second largest buyer of clean energy in 2021. It is now Amazon taking first place on the podium. Jeff Bezos’ company recently signed a partnership with TotalEnergies to invest in renewable energies. Amazon’s clean energy portfolio is the 12th largest of any company globally. Total clean energy purchased by companies in 2021 increased by almost 24%but in reality, the number of companies that have purchased renewable energy has decreased…