Month: December 2018

The Many Dimensions of Climate Action: Takeaways from Companies vs. Climate Change 2018

Companies-vs-climate-change-miami-2018

Last month, my colleague, Dan Kosiak, and I attended Companies vs. Climate Change (CvCC) in Miami, FL. Now in its second year, the conference strives to bring companies together to create business-driven solutions to the climate crisis. 3Degrees had the distinct pleasure of serving as a premiere sponsor of the event.

This year, organizations of all sizes convened to discuss how to work collaboratively to address climate change. The audience was an energizing mix of people from the worlds of corporate and institutional sustainability, policy, consulting, and more, with an interesting blend of perspectives from global, local, governmental and the private sector. One of the most interesting aspects of the conference was the real-world stories and deep-dive examples that attendees from each of these unique groups brought to the table.  Many of the sessions focused on how organizations are tackling climate change from different angles – each sector with its own unique challenges, focuses and potential solutions. Despite the wide range of approaches, the common thread among the organizations was their shared passion to figure out the most impactful way they could address climate change.

On the second day of the conference, Dan and I had the opportunity to lead a session focused primarily on the concept of ‘VPPA Readiness’. The session served as a workshop for renewable energy buyers to determine if a VPPA made sense for their organization, and was centered around a few key areas:

Understanding the renewable energy market landscape and how a VPPA fits in:

    • Current trends in the renewable energy market show that the demand for voluntary VPPAs has more than doubled in recent years. 1  In fact, corporate power purchase agreements now account for about ¼ of total global renewable electricity sourced. 2 In spite of this aggressive growth, it is still important to note that PPAs and VPPAs are not the only tools in the GHG reduction toolkit and are not advisable for all buyers.

The primary benefits, considerations and challenges that face voluntary corporate buyers:

  • There are clear benefits, as well as risks and challenges when executing this type of long-term renewable energy purchase. Corporate buyers must determine their inherent risk tolerance. In the ‘pros’ column, VPPAs require no capital investment and provide a clear and positive environmental impact; however, committing to a 12-15 year investment with fluctuating market value may leave some feeling financially exposed.

Implementation examples, tips and best practices:

  • In an effort to provide real-world examples and practical guidance, Dan and I guided the audience through a recent  VPPA Aggregation supported by 3Degrees and executed by Apple, Akamai, Etsy and Swiss Re. A deal this complex emphasized the need for established leadership, commitment to timelines and a shared idea of goals and success. Each of the participating companies demonstrated key maturity attributes and achieved certain milestones in order to be in the position to execute on the VPPA.

I was inspired by the audience’s very apparent interest in VPPAs and how they can be incorporated into sustainability strategies.  However, the challenges around understanding how these transactions work, their implied benefits, how to define success and why to do it is undeniably real – especially given the many available, and sometimes conflicting, sources of information on the topic. The good news is, as increasing numbers of PPAs are executed and more projects start to come online, the path will become more worn and answers to these difficult questions will become more evident.

As we departed this year’s Companies vs. Climate Change, I left feeling inspired by how effectively corporations can work together, learn from each other, and guide one another toward making real impact in the fight against climate change. Thank you to the team who makes this important conference possible; we’ll be back next year!

Footnotes

1. Business Renewables Center Corporate Renewable Deals 2013 -2018
2. IRENA (International Renewable Energy Agency) 2018 report – Corporate Sourcing of Renewables: Market and Industry Trends

Why my work matters: Ryan Pawling

ryan-pawling

Ryan is a Senior Business Manager at 3Degrees.
wind energy

Some of my favorite projects:

  • Worked with toy company Hasbro to develop an international portfolio of environmental products that helped the company meet its goal of 100% renewable energy and carbon neutrality.
  • Helped a long-term manufacturing client leverage its internal resources and deepen its commitment to sustainability with its first ever virtual power purchase agreement.
  • Advised a top 10, global supermarket chain on how to operationalize its climate goals and become a sustainability leader in its industry.
  • Worked with the City of Portland, Oregon to break down internal and external barriers to achieving its goal of 100% renewable energy

 

quote1

I like working in renewable energy because this is where the action is on climate change.

 Special skills & expertise

purchase-agreement create-and-design  global teams
Fostering long-term, trusted relationships with his clients Building business cases that unlock hidden value Navigating the complex world of international renewable energy and carbon offsets Superpower:
Mobilizing resources from across 3Degrees to serve his clients

 

Watch Ryan’s video:

3Degrees Commits to Blockchain Investment, Signs on as Affiliate to Energy Web Foundation

energy-web-blockchain

3Degrees announced today that it has become an Affiliate of the Energy Web Foundation (EWF), a global non-profit organization focused on accelerating blockchain technology across the energy sector. With this commitment, 3Degrees joins more than 90 other leading companies as Affiliates of EWF and has access to strategic R&D investment in blockchain technology in the energy sector.

“We have been studying blockchain closely over the past year and felt the time was right to join forces with EWF, an organization pioneering the way the energy industry will intersect with blockchain-enabled platforms,” said Steve McDougal, CEO of 3Degrees. “3Degrees is committed to being a credible, trustworthy partner to our customers as they navigate this emerging technology. We believe blockchain offers enormous potential for the energy and environmental commodity markets, the grid edge, electric vehicles, demand response, and beyond. However, it’s critical that we approach this new technology intelligently and with stringent regulation. 3Degrees became an Affiliate of EWF because we align with their approach to the intersection of blockchain and the energy markets.”

Co-founded by Rocky Mountain Institute and Grid Singularity, EWF’s core focus is building an open-source, scalable blockchain platform specifically designed for the energy sector’s regulatory, operational, and market needs. It serves as a foundational, shared, digital infrastructure for the energy and blockchain community to build and run their solutions. As an Affiliate of EWF, 3Degrees will have privileged access to research, technology, education efforts, and the organization’s ecosystem.

“3Degrees is a leading renewable energy and environmental commodities market player that is committed to operating with transparency and integrity,” said Hervé Touati, CEO of Energy Web Foundation. “Blockchain technology holds much promise across their focus areas, including renewable energy certificates and renewable energy procurement. We’re excited for 3Degrees to add their respected perspective to the evolution of the Energy Web Chain.”


About Energy Web Foundation

Energy Web Foundation (EWF) is a global nonprofit unleashing blockchain’s potential to accelerate the transition to a decentralized, democratized, decarbonized, and resilient energy system. EWF is building the shared, digital infrastructure—an open-source, scalable blockchain platform—specifically designed for the energy sector’s regulatory, operational, and market needs. Co-founded by Rocky Mountain Institute and Grid Singularity, and with a worldwide network of more than 90 affiliates and growing, EWF is the largest energy blockchain ecosystem and the industry’s leading choice as the foundational blockchain base layer, providing the digital DNA building blocks powering the world’s energy future. For more, visit http://www.energyweb.org.

Energy Web Foundation (EWF)
Peter Bronski
+1.201.575.5545
peter.bronski@energyweb.org

The Anatomy of a REC & Carbon Offset Purchase

customer-journey

Need help thinking through your organization’s REC or carbon offset purchase?  Here is a step-by-step guide designed to give you a better understanding of the process, so you can feel confident moving forward to reduce your company’s carbon footprint.

Want more information? Take a look at our RECs and Global Equivalents and our Carbon Offset Services Pages, or Contact us.

 

Persimmon Creek: Oklahoma Wind Farm

Persimmon Creek: Oklahoma Wind Farm

Persimmon Wind Farm

Persimmon Creek Wind Farm, a 200 MW facility in Oklahoma, is Scout Clean Energy’s first completed wind development. The construction of 73 GE 2.5-MW turbines was completed in under nine months, and the facility has been online since September 2018.

The development of the Persimmon Creek wind farm has had a positive impact on the region. The project has helped to create jobs and will continue to provide economic benefit to Dewey, Ellis and Woodward Counties throughout the life of the project.*

Persimmon is a unique project, as the three-year commitment to purchase RECs from the project was finalized before it reached commercial operation. The competitive REC pricing offered by 3Degrees exceeded Scout’s pro-forma REC income for the project, helping to smooth its financial close.

 

3Degrees + RECS

 

www.green-e.org

3Degrees’ Multiple Mix Product is Green-e Energy certified and meets the environmental and consumer protection standards set forth by the nonprofit Center for Resource Solutions. Learn more at: www.green-e.org.

 

*https://www.prnewswire.com/news-releases/quinbrook-commences-operations-at-270-million-usd-persimmon-creek-wind-farm-300710303.html