Corporate GHG Commitments & Advocacy for State Climate and Energy Policies

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1 Corporate GHG Commitments & Advocacy for State Climate and Energy Policies 2018 NASEO Energy Policy Outlook Alli Gold Roberts

2 Who we are Ceres is transforming the economy to build a sustainable future for people and the planet. Company Network 60+ companies in more than 20 sectors Investor Network 130+ investors representing $17 trillion AUM Policy Network (BICEP) 40+ leading companies Nonprofit Network 100+ environmental, social and labor groups 2

3 Ceres State Policy Priorities De-carbonization of the Electricity Sector Renewable Portfolio Standards Energy Efficiency Resource Standards Corporate procurement of renewable energy Access to Power Purchase Agreements, green pricing programs, community solar and direct procurement Carbon Pricing CA s Cap-and-Trade, RGGI, Transportation Climate Initiative, etc. Clean Transportation Low Carbon Fuel Standards Protecting ZEV mandate and CA s waiver EV incentives and infrastructure

4 Ceres Policy Network (BICEP) Business for Innovative Climate & Energy Policy (BICEP) is an advocacy network of businesses committed to working with policymakers to pass meaningful energy and climate legislation that is consistent with our core principles. 4

5 Corporate Commitments 63% of Fortune 100 and 48% of the Fortune 500 have a greenhouse gas reduction, renewable energy or energy efficiency target 70% 60% 63% 57% 50% 40% 48% 39% 30% 20% 10% 0% F100 F250 F500 F

6 Percentage of U.S. Fortune 500 with Targets by Sector 6

7 Corporate GHG Commitments 339 companies committed to science-based targets Another 864 companies have stated their intention to adopt a science-based target within 2 years Multiple approaches: sector-based, absolute-based & economic-based Companies are committed to playing their part in state, national and international efforts to limit global temperature rise 7

8 Corporate Ambition RE100: 123 companies committed to go '100% renewable EP100: over a dozen companies committed to doubling their energy productivity EV100: over a dozen companies committed to accelerating the transition to electric vehicles (EVs) and making electric transport the new normal by 2030.

9 Business Case for GHG Reductions Ability to reduce energy costs Diversification of energy supply Locking in long-term energy price stability to hedge against energy market volatility Meeting demand from investors and customers Demonstrating corporate leadership, innovation, and competitive first-mover advantage Reduce regulatory uncertainty

10 Corporate Renewable Deals Capacity (GW) Bloomberg Apple Cisco Walmart Kaiser Permanente General Motors Procter & Gamble Aerojet Rocketdyne Amazon Iron Avery Owens Corning Mountain 2.0 Dennison Owens Corning Equinix General Kimberly Clark Equinix Motors 1.61 Anheuser-Busch InBev Procter & Gamble JPMorgan 1.5 Amazon Equinix T-Mobile Amazon HPE Cummins Akamai 1.20 Switch Microsoft Target Technologies Goldman Sachs Yahoo IKEA Amazon Amazon Apple General Mills Apple 1.0 Apple Walmart Facebook Steelcase Partners 0.77 Apple Microsoft Amazon Johnson & Johnson HealthCa Becton Dickinson Facebook Amazon Iron Amazon T-Mobile re Apple Mars Mountain Microsoft Dow Chemical Digital Realty DeAcero 0.5 Walmart Anheuser- Apple Facebook Apple Kaiser Permanente Lockheed Busch InBev Solvay 0.07 Volkswagen Martin Salesforce US Delphi Automotive IKEA Apple 3M PayPal Apple Publicly announced contracted capacity of corporate Power Purchase Agreements, Green Power Purchases, Green Tariffs, and Outright Project Ownership in the US and Mexico, Excludes on-site generation (e.g., rooftop solar PV) and deals with operating plants. Last updated: January 5, Switch Salesforce Philips Corning General Motors Copyright 2017 by Rocky Mountain Institute For more information, please visit or contact 3.11 Digital Realty Facebook General Motors General Motors Kimberly Clark Digital Realty DSM

11 Policies Enabling Corporate Procurement Direct purchasing pathways: direct access / electric choice, onsite PPAs, offsite PPAs, green tariffs, shared renewables, CCAs Support policies: Wind siting regulations, tax incentives, net metering, permitting, PURPA, interconnection policies Indirect policies: RPS, carbon pricing and regulations, ISO/RTO expansion

12 Utility Renewable Energy Deals Source: World Resources Institute

13 Third-Party PPAs 3 rd Party Solar PV Power Purchase Agreement (PPA) NV: With system size limitations CO: With system size limitations VA: Limited capacity DC AZ: Limited to certain sectors TX: With system size limitations LA, MS, SC: Solar leases explicitly allowed U.S. Territories PR Guam USVI NMI Apparently disallowed by state or otherwise restricted by legal barriers Authorized by state or otherwise currently in use, at least in certain jurisdictions Status unclear or unknown At Least 26 States + Washington DC and Puerto Rico Authorize or Allow 3 rd Party Power Purchase Agreements for Solar PV / April 2017

14 Offsite Virtual PPAs Source: Schneider Electric

15 Corporate Advocacy in States As major employers and large electricity consumers in Virginia, we write to support progress to date, and to express our support for increased and diversified renewable energy supplies in Virginia. We also write to ask for an explicit legal framework allowing companies choices to procure, lease, and access renewable energy resources from the state s utilities and from private thirdparty sellers.

16 Corporate Advocacy in States 16

17 Businesses and Investors from all 50 states 35+ Fortune 500 s 215+ with >$100M (business) or > $5B (investor) Total Signatories (330+ Higher Education, 250+ Cities & Counties, 9 States, 210+ Faith Communities, 180+ Tribes) wearestillin.org 17

18 Alli Gold For more information, visit us: 18