Environment
Ranked: The 50 Companies That Use the Highest Percentage of Green Energy
Which Companies Use the Most Green Energy?
Green energy was once a niche segment of the wider energy industry, but it’s quickly becoming an essential energy source in many regions and nations across the globe.
Based on data from the Environmental Protection Agency (EPA), this infographic by SolarPower.Guide shows the top 50 greenest companies, based on the highest proportion of green energy used in their overall consumption mix.
Leaders in Green Energy Use
As green energy becomes more affordable, some major businesses like Google, Wells Fargo, and Apple are embracing it in a big way.
It also helps that institutional investors are nudging companies in that direction anyways, especially as they become more focused on incorporating environment, social and governance (ESG) into their portfolios.
Here are the top 15 U.S. companies that use the highest percentage of green energy:
Rank | Company | Green Power use | Annual Green Power Use (kWh) |
---|---|---|---|
#1 | The Estee Lauder Companies Inc. | 139% | 91,843,084 |
#2 | Voya Financial | 120% | 40,000,000 |
#3 | BNY Mellon | 113% | 268,000,000 |
#4 | Sephora | 112% | 112,323,000 |
#5 | Bank of America | 109% | 1,855,505,589 |
#6 | Church & Dwight Co. | 107% | 159,445,000 |
#7 | Google LLC | 106% | 7,492,567,647 |
#8 | The Hartford Financial Services Group | 106% | 68,835,000 |
#9 | Wells Fargo | 105% | 1,843,545,975 |
#10 | Equinix | 104% | 2,360,296,352 |
#11 | State Street Corp. | 104% | 158,991,503 |
#12 | Aldi | 103% | 984,430,521 |
#13 | Apple Inc. | 101% | 2,202,581,271 |
#14 | Starbucks | 101% | 1,119,392,000 |
#15 | TD Bank | 101% | 210,209,954 |
Note: The values reflect the amount of green power as a percentage of a company’s total electricity use. Companies that purchase green power exceeding their total organization-wide electricity use will show a value greater than 100%.
Green Energy vs. Renewable Energy
The term “green energy” is often met with confusion by some and is sometimes just referred to as “renewables” by others. So, what is green energy, and how is it different from other sources of renewable energy?
Green energy is a subset of renewable energy and represents those energy sources and technologies that provide the highest environmental benefit. The EPA defines green power as electricity produced from solar, wind, geothermal, biogas, eligible biomass, and low-impact small hydroelectric sources.
Other renewable types of energy exist, but may not be considered fully green, at least as the EPA defines it. For example, while massive hydro projects provide a renewable source of energy, they can also have big impact on the environment. Same goes for non-eligible biomass—a category which includes biomass that may not be close to carbon-neutral.
Climate Commitments
In addition to the use of green power for operations, major companies are also looking at the bigger picture and setting targets to achieve carbon neutrality.
Here are a few of the major companies that have made climate commitments in the near future:
Company | Commitment | By Year |
---|---|---|
Apple | Net Zero Carbon Emission | 2030 |
Ikea | Climate Positive | 2030 |
Burger King | Net Zero Operations | 2030 |
Microsoft | Net Zero Carbon Emission | 2030 |
BBC | Net Zero Carbon Emission | 2030 |
Net Zero Value Chain | 2030 | |
Verizon | Net Zero Carbon Emission | 2035 |
Unilever | Net Zero Carbon Emission | 2039 |
Pepsi Co. | Net Zero Carbon Emission | 2040 |
BP | Net Zero Carbon Emission | 2050 |
This will undoubtedly impact their overall consumption and the energy mix in the years to come.
Environment
How Carbon Dioxide Removal is Critical to a Net-Zero Future
Here’s how carbon dioxide removal methods could help us meet net-zero targets and and stabilize the climate.
How Carbon Dioxide Removal is Critical to a Net-Zero Future
Meeting the Paris Agreement temperature goals and avoiding the worst consequences of a warming world requires first and foremost emission reductions, but also the ongoing direct removal of CO2 from the atmosphere.
We’ve partnered with Carbon Streaming to take a deep look at carbon dioxide removal methods, and the role that they could play in a net-zero future.
What is Carbon Dioxide Removal?
Carbon Dioxide Removal, or CDR, is the direct removal of CO2 from the atmosphere and its durable storage in geological, terrestrial, or ocean reservoirs, or in products.
And according to the UN Environment Programme, all least-cost pathways to net zero that are consistent with the Paris Agreement have some role for CDR. In a 1.5°C scenario, in addition to emissions reductions, CDR will need to pull an estimated 3.8 GtCO2e p.a. out of the atmosphere by 2035 and 9.2 GtCO2e p.a. by 2050.
The ‘net’ in net zero is an important quantifier here, because there will be some sectors that can’t decarbonize, especially in the near term. This includes things like shipping and concrete production, where there are limited commercially viable alternatives to fossil fuels.
Not All CDR is Created Equal
There are a whole host of proposed ways for removing CO2 from the atmosphere at scale, which can be divided into land-based and novel methods, and each with their own pros and cons.
Land-based methods, like afforestation and reforestation and soil carbon sequestration, tend to be the cheapest options, but don’t tend to store the carbon for very long—just decades to centuries.
In fact, afforestation and reforestation—basically planting lots of trees—is already being done around the world and in 2020, was responsible for removing around 2 GtCO2e. And while it is tempting to think that we can plant our way out of climate change, think that the U.S. would need to plant a forest the size of New Mexico every year to cancel out their emissions.
On the other hand, novel methods like enhanced weathering and direct air carbon capture and storage, because they store carbon in minerals and geological reservoirs, can keep carbon sequestered for tens of thousand years or longer. The trade off is that these methods can be very expensive—between $100-500 and north of $800 per metric ton.
CDR Has a Critical Role to Play
In the end, there is no silver bullet, and given that 2023 was the hottest year on record—1.45°C above pre-industrial levels—it’s likely that many different CDR methods will end up playing a part, depending on local circumstances.
And not just in the drive to net zero, but also in the years after 2050, as we begin to stabilize global average temperatures and gradually return them to pre-industrial norms.
Carbon Streaming uses carbon credit streams to finance CDR projects, such as reforestation and biochar, to accelerate a net-zero future.
Learn more about Carbon Streaming’s CDR projects.
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