As sustainable energy sources become more accessible and economical, making them increasingly viable alternatives to traditional energy markets, many multinational companies are setting renewable-energy goals. In fact, 60 percent of Fortune 100 companies have set clean energy targets, according to a recent report by the environmental advocacy group Ceres.
But for some of these global companies, renewable targets have proven easier to announce than to achieve. Three of the Fortune 100 companies that had expiring renewable energy targets in 2012 missed their publicly-stated goals. The Ceres report points to internal challenges as a key reason why these large companies struggled to meet their renewable energy commitments.
“As companies try to source and execute [solar] projects to meet their targets, even the largest companies can lack capacity to handle the complex deal structures and financial instruments needed to buy renewables,” the report states. “Understanding these financial accounting and legal structures often requires extensive outside expertise.”
A growing source for that expertise: a new breed of consultants known as energy “matchmakers” who help connect large corporations with the technology and capital required to make renewable goals a reality. Read more in this JLL article.