Renewable energy is getting better. The industry that started as a venture to reduce carbon emissions recently went through a restructuring wave toward lowering the environmental pollution. The industry is currently working on significantly reducing scope 3 emissions. These cover emissions realized from the production process to their consumption.
Scope 3 emissions contribute to a considerable amount of a company’s emissions. Such emission levels inadvertently represent 75% of a company’s carbon footprint. Yet companies have little control over their scope 3 emissions compared to their scope 1 and scope 2 emissions. Over time companies have formed control measures for their Scope 1 and scope 2 emissions. However, scope 3 emissions pose a significant obstacle toward being fully carbon-free.
Companies, however, are taking the challenge to try to reduce their scope 3 emissions. Major companies like Apple are joining the move towards a renewable dependent production scene by 2030. It plans to have this accomplished through its established supply chain. Apple is convincing its suppliers to commit to a renewable production scheme by 2030. The plan integrates 71 critical players in Apple’s manufacturing chain spanning across 17 countries.
Apple’s move toward Renewables bore significant traction following a resultant decision by Taiwan Semiconductor Manufacturing Company to place a 20yesr order for 920MW of power from offshore wind sources. Ørsted owns the wind farm.
Additionally, the other tech companies are joining Apple in its renewable’s frontier. These include Amazon, Facebook, Google, and Microsoft; major tech players recently announced their stance towards reducing their aggregate carbon footprint. The move can heavily influence the world supply chains as the companies hold a significant portion of control. This outcome shows the extent of power multi-billion tech companies have over the world supply chain.
The shift towards a renewable supply chain has several consequential effects. The united front against carbon-based supply chains can change procedural processes around manufacturing European-based manufacturers and turn their focus onto renewables after a long season of sticking to old systems. Their change affects the global energy market, initiating a wave towards a renewables’ focused production plan capable of revolutionizing the industry.
The move is a continuous process that started during the first quarter of 2020. Numerous industries in Taiwan, Europe, and Australia experienced surges in renewables in 2020 comparable to 2019. The sector can turn over the renewable energy scene by integrating buyer aggregation in renewable energy procurement.