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Giant companies to combat climate change through renewable energy

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(Credit: MoneyTimes) Wind turbines producing electricity spin on August 27, 2015 near Kistritz, Germany. Germany has set ambitious goals for energy production from renewable sources. According to statistics released by the Fraunhofer Institute solar, wind, water and biomass sources accounted for 34% of gross public electricity production in Germany by the first half of 2015.Renewable energy
September 28
6:47 PM 2015

The global effect of climate change is devastating, prompting countries and giant companies to take action in addressing the changes in climate.

On Wednesday, nine major companies are expected to take part in a global coalition of firms intent on transitioning to renewable energy.  New members include Johnson & Johnson, Procter & Gamble, Starbucks, Walmart, and Goldman Sachs.  Couples of companies had already reached the target of 100% while others do not expect to do so for several decades but are generally setting assertive interval targets, according to The New York Times.

Procter & Gamble said that by 2020 it would convert 30% renewable energy, up from 7% today.  The new goal which is a culmination of years of environmental efforts by the company means that their products and other goods found in American pantries will be made using added green energy.

"We've been very clear that we think climate change is something that's real and needs to be addressed," Len Sauers, P. &G.'s vice president for global sustainability, said in an interview. "People that use our products expect a company like P. &G. to be responsible."

Thousands of corporate leaders, environmental activists, and financiers gathered in New York for Climate Week, an annual showcase linked to the opening of the United Nations General Assembly.  The congregation means to inspire stronger action from companies while putting pressure on the governments at the same time to step up their own initiative on climate change.

No deadline is set by RE100 as Climate Group's initiative calls it, for companies to meet the target or spell out consequences if they do not, as reported by the Solar Daily.

Renewable energy sources including the sun and wind do not emit carbon dioxide which is a key factor that causes the planet's temperature to raise alarming scientists it will cause scarcities and devastation.

The national plans submitted ahead of a year-end conference in Paris, aimed at drafting a new global climate agreement, the planet appears to be still well off from a goal of limiting temperature rises to 2.0°C (3.6°F) above pre-industrial levels.

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