GHG Emissions, Commercial, Sourcing Renewables - May 5, 2020
Bloomberg surpasses goal with 49% RE
Bloomberg LP announced May 5 that they surpassed their 2020 goal of sourcing 35% renewable energy and received 48.5% of their energy needs from renewable sources in 2019.
According to their latest impact report, the company increased their renewable energy use to 48.5% from just 17% in 2018. The media company is now halfway to reaching their 2025 goal of sourcing 100% of their energy from renewable sources.
Additionally, Bloomberg reduced their overall emissions by 30% since 2007. This exceeds the 20% goal they had set for 2020. The company estimates that since 2008, they have saved $120 million in operating costs and 1 million metric tons of CO2 emissions by implementing efficiency measures and environmental projects.
“The past few months have been extremely difficult for communities all over the world,” Founder Michael Bloomberg said in a statement. “But this can also be a turning point that propels us forward, including in the fight against climate change. Fighting climate change and growing the economy go hand in hand – bringing about immediate benefits that can save lives and make our communities stronger and more resilient. At Bloomberg, we’re committed to doing our part and our foundation Bloomberg Philanthropies continues to expand its efforts to drive action on climate change.”
The company attributes some of this achievement to its participation in the Corporate Renewable Energy Aggregation Group, through which Bloomberg procured 42.5 MW of solar power in January 2019 from a 100 MW project in North Carolina in partnership with Cox Enterprises, Gap Inc., Salesforce and Workday.
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