The climate crisis has progressed at much quicker rates than previously predicted, and the recent release of the UN IPCC climate report has expedited the need for regulation across all industries. In response to this, Big 4 accounting firm Deloitte has announced that it will be partnering with LevelTen Energy, a provider of renewable energy infrastructure.
LevelTen Energy is a Seattle-based company providing the largest online resource for renewable energy deals. The company hosts over 4,000 offerings across 21 countries, and connects clients with energy advisors capable of helping with the transition into low-carbon emission practices. Thus far, the company is responsible for over $5 billion in renewable energy transactions and 3.3 gigawatts’ worth of renewable energy deals.
The company recently received a $35 million capital injection in its Series C Funding, with a major chunk of that investment coming from Google, which stated that they seek to support “innovative solutions that help enable businesses of all sizes to source 24/7 carbon-free energy.”
Deloitte is now among the 25 other energy advisors (including powerhouses like Accenture, BCG, and Guidehouse) participating in a partnership with LevelTen Energy. Recent findings from a survey conducted by Deloitte Global showed that one in four companies are already seeing the negative impacts of climate change on their business operations. This is why these partnerships are vital to the future sustainability of this world.
According to BloombergNEF, in order to reach net-zero emissions by 2050, the annual investment in renewable energy supply must double to over $3.1 trillion a year. Along with this, a minimum of 1,400 gigawatts of renewable energy must be utilized yearly to see results.
“This is not only the right business decision for us, but also the right thing to do for society as employees and consumers expect more from those they work with and purchase from,” said Jennifer Steinmann, Deloitte Global ESG Marketplace Leader.
The renewable energy sector has doubled its capacity in the last half decade, now generating enough renewable energy to power 50 million homes. Now that the United States has formally rejoined the Paris Climate Accords, many leaders across multiple industries in the nation will likely prioritize eco-friendly business practices in coming years.