Salesforce Announces Strategic Climate Investments - Smart Energy Decisions

Energy Efficiency, GHG Emissions, Solar  -  June 18, 2024

Salesforce Announces Strategic Climate Investments

Salesforce announced three climate initiatives including carbon removal solutions, an expansion of its renewable energy portfolio, and a grant opportunity for nonprofits advancing a just energy transition.

The company will commit $25 million as a member of the Frontier coalition to scale and commercialize carbon dioxide removal (CDR) technology solutions by 2030. This investment is part of the company’s efforts to deploy $100 million for CDR under its First Movers Coalition commitment. Frontier will facilitate purchases on behalf of Salesforce, prioritizing solutions that permanently store carbon and have a path to affordability at scale.

Salesforce also signed a 15-year virtual power purchase agreement (VPPA) for a new solar portfolio across six Italian regions to save over 21,500 metric tons of CO2 emissions annuallyThe deal was signed with Qualitas Energy. These projects will produce a new 27-megawatt (MW) solar portfolio and are expected to come online in 2024 and early 2025. As part of the contract, Qualitas Energy will deploy approximately EUR 400,000 to a community fund to support municipal projects and local NGOs.

Finally, Salesforce will grant $3.9 million to seven nonprofits focused on making clean energy affordable and equitable for underrepresented communities, developing renewable energy in marginalized lands, and creating green jobs. 

“To tackle the climate crisis head-on, companies must have a comprehensive climate transition plan. For us, this means investing in and scaling new climate technologies, securing clean energy access in underserved regions of the world, and aligning our corporate philanthropy strategy to ensure no one is left behind,” said Suzanne DiBianca, EVP and Chief Impact Officer, Salesforce, in a statement. 

Keywords: salesforce

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