Energy management company Schneider Electric is collaborating with corporate responsibility and sustainability consultancy Carnstone to increase renewable energy access to 10 leading pharmaceutical suppliers.
Their effort, called the Energize program, will help the companies address their own operational Scope 2 greenhouse gas emissions through green power procurement, which in turn will reduce the participating companies’ Scope 3 emissions.
Energize will teach companies about the renewable energy industry, particularly how to source clean energy. In practice, this involves equipping companies with the tools they need to enter into power purchase agreements. PPAs pair an energy developer with an energy buyer. The developer builds a power plant of some kind on the buyer’s property, retaining ownership and selling the electricity generated to the buyer at agreed upon rates for a fixed duration of time — usually between 10 and 25 years. At the end of the term, the buyer may choose to extend the agreement, have the developer remove the system, or offer to purchase the power plant outright.
Participants in Energize include AstraZeneca, Biogen, GSK, Johnson & Johnson, MSD, Novartis, Novo Nordisk, Pfizer, Sanofi, and Takeda, each of whom aims to engage its suppliers.
The program was designed to overcome typical market barriers such as inadequate knowledge about renewable energy transactions, load size, lack of credit, and the need for guidance throughout a complex and protracted contracting process.
Schneider and Carnstone will initially focus on suppliers with energy load in Europe and North America, with the intention to expand globally where interest and renewable energy market opportunity align.
Glynn Roberts, Senior Partner at Carnstone, stated,
“Limiting global warming to safe levels will depend on moving the entire world to renewable energy. This is not something that companies can achieve on their own. We are strong believers in the power of collaboration, and are honored to be bringing the pharmaceutical industry together to drive the adoption of renewable energy in its supply chains,” said Glynn Roberts, Senior Partner, Carnstone.”
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November 06, 2021 at 02:16PM
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Schneider Electric Will Help These 10 Drug Companies Source More Of Their Energy From Renewables - Environment + Energy Leader
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