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Why the World’s Largest Companies Are Investing in Renewable Energy 1
Contents
Acknowledgements
Calvert Investments, Ceres and WWF would like to thank Ryan Hodum of David Gardiner & Associates as lead author of this report and Mark Molitor as lead researcher. Lead contributorsfrom the participating organizations include Bryn Baker, Marty Spitzer and Matt Banks, WWF;Brian Bowen, Peyton Fleming, Christopher Fox, Anne Kelly, Lance Pierce and Katina Tsongas,Ceres; and Rebecca Henson and Bennett Freeman, Calvert Investments.
Executive Summary
....................................................................................................... 2Recommendations for Corporations ................................................................... 6Recommendations for Policy Makers ................................................................... 7
Introduction
.................................................................................................................. 9Report Methodology ........................................................................................... 10
What Targets Are Companies Setting?
............................................................................ 10
Why Are Companies Buying Renewable Energy?
............................................................. 18
How Do Companies Plan to Achieve Their Renewable Energy Commitments?
................... 18
RenewableEnergyCerticates
........................................................................... 19Power Purchase Agreements .............................................................................. 21On-Site Direct Investment ................................................................................. 22
What Are the Barriers to Investing in Renewable Energy at Scale?
................................. 23Cost of Renewable Energy ................................................................................ 23Case Study: Walmart ......................................................................................... 24Internal Competition for Capital ....................................................................... 25Case Study: Johnson & Johnson ........................................................................ 25Policy .................................................................................................................. 26Case Study: Sprint .............................................................................................. 27
Recommendations or Corporations and Policy Makers
................................................... 28Recommendations for Corporations ................................................................ 29Recommendations for Policy Makers ................................................................ 29
Appendix A
................................................................................................................ 32
Appendix B
................................................................................................................. 37
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