A New Deal for Renewable Energy
Cox Enterprises announced it is forming a groundbreaking collaboration with four other major international companies to reduce carbon emissions.
Cox is partnering with Bloomberg, Gap, Salesforce and Workday to purchase 42.5 megawatts of solar energy (enough to remove carbon emissions from over 8,000 homes annually) from BayWa, a leading global renewable energy solutions provider. The companies, in an unprecedented level of coordination, are forming the Corporate Renewable Energy Aggregation Group to make the purchase.
This partnership plays an important role in helping accelerate Cox toward our goal to become Carbon Neutral by 2044. In fact, this project alone represents about 3 percent of our carbon goal.
A New Option for Smaller Companies
For Cox and the other members of the group, this was about more than a single purchase. Together they’re inspiring and educating other corporations to try similar deals in the future.
Smaller companies interested in buying renewable energy traditionally have fewer options when it comes to these types of investments. The group’s coordinated effort is an excellent example of how smaller companies can find like-minded organizations and work together to gain access to energy projects that previously held too much risk and cost.
“Cox is no stranger to the renewable energy space,” said Steve Bradley, AVP environmental sustainability, Cox Enterprises. “We’ve already invested millions of dollars and resources into our goal of being Carbon Neutral by 2044. This partnership is an opportunity for us to take what we’ve already been building to the next level by joining forces with other companies who share our vision for a cleaner, more sustainable planet. This is an exciting venture because by coming together, we are creating the blueprint for companies to come.”
Read more about the partnership in this Fast Company article.
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