Otherwise known as the Conferences of the Parties (COP), the UN Climate Change Conference has taken place every year since 1995. It’s publicized as an important event in the global political calendar, carving out the space for politicians, experts, private sector stakeholders, and civil society groups to find ways to tackle the issue of climate change. 

However, despite meeting every year for the past 27 years, world leaders have not been able to curb global warming, as evidenced by the fact that global surface temperatures have steadily increased by 0.2°C per decade in the past 30 years

From 1990 to 2019, the total warming effect from greenhouse gases added by humans to the Earth’s atmosphere increased by 45%.

Notably, COP27 saw fewer world leaders in attendance in comparison to last year’s summit, which leads many to question not only the effectiveness of this type of political get-together, but also the willingness of politicians the world over to actually acknowledge the importance of climate action. 

Whose responsibility is it?

The Paris Agreement (signed by 196 parties during 2015’s COP21 in Paris) is perhaps the most recognizable measure taken by COP members to lay down ground rules and specific goals, which need to be met on both national and international levels. Importantly, the Paris Agreement also included the capacity of countries to cooperate in reducing their greenhouse gas emissions. 

Climate change is a global emergency that goes beyond national borders. It is an issue that requires international cooperation and coordinated solutions at all levels.
United Nations 

Cooperation between nations is imperative in order to tackle this global issue, but it’s vitally important to recognize the discrepancy of cause and effect between countries: most greenhouse emissions come from developed nations, while developing countries, who have contributed the least to global warming, are paying the highest price by finding themselves at the front lines of natural disasters. 

Loss and damage, and climate justice

With COP27 having taken place in Egypt, conference attendees couldn’t help but focus on developing markets, which are some of the most vulnerable despite being among the lowest emitters of greenhouse gases. Generally, countries that bear the brunt of climate-related disasters (floods, droughts, fires) often do not have the resources needed to recover. 

That’s why one of the most important points of discussion during COP27 was the idea that developed nations should provide financial support so as to address this imbalance. Despite long-time opposition from the US and the EU, the conference closed with a breakthrough agreement to provide “loss and damage” funding for vulnerable countries hit hard by climate disasters – marking an important step in the right direction towards climate justice. 

“This outcome moves us forward,” said Simon Stiell, UN Climate Change Executive Secretary. “We have determined a way forward on a decades-long conversation on funding for loss and damage – deliberating over how we address the impacts on communities whose lives and livelihoods have been ruined by the very worst impacts of climate change.”

The goals that matter most

While climate change is a global issue, countries are held individually accountable by way of their Nationally Determined Contributions (NDCs). The Paris Agreement does not specifically define the actions that each country must take to meet their NDCs, but it does stipulate that all countries must provide an update on their progress every five years. 

The benchmarks towards progress are there, but the lines are blurred enough that countries such as Switzerland are finding ways to finance green projects outside of their own borders and taking credit for reduced emissions, without necessarily changing their own policies or reducing their own national footprint. 

By allowing these tactics, which conflate international collaboration with national responsibility, the COP and Paris Agreement risk losing credibility. Already, many participating governments face accusations of greenwashing from think tanks, NGOs, and civil society groups. It’s important to stress the role that civil society plays, most of all, in holding larger players accountable, because real change can only be said to have taken place once civil society benefits. 

An ESG approach is the only way to measure lasting impact, since it looks out for the benefit of society, as much as the benefit of the environment and the economic bottom line. It’s no longer enough to simply make pledges – it’s time for real action. Read more on how businesses can avoid greenwashing and act for real change, here.

From pledge to practice 

According to Climate Action Tracker, an independent scientific analysis that tracks government climate action and measures it against the agreed-upon Paris Agreements, only 21 countries submitted their updated national climate commitments one week prior to COP27. 

If we are to continue counting on mechanisms like COP and the Paris Agreement, it’s important to question their effectiveness. Operating in a gray area, the Agreement is legally binding, but there are no penalties for countries that don’t meet their targets. 

The geopolitical crisis of 2022 has certainly pushed governments to embrace more alternative energy sources, and we have seen some historic measures in support of green energy (most notably, Biden’s IRA). However, many EU countries have also ramped up coal-fired power generation, in addition to forming new deals with countries in Africa to explore new gas fields. 

All this in spite of the warnings by the International Energy Agency that any more fossil fuel development will definitely lead to a climate breakdown

However, there are reasons for optimism. According to recent data released by energy think-tank Ember, global electricity demand growth was met entirely by renewable power in the first half of 2022, demonstrating that the world can be powered without fossil fuels – as long as the will to do so exists. 

From public to private 

As governments fall short of their pledges, the private sector is determinedly shifting towards sustainable initiatives. More and more, investors are seeking stability, which forces them to look at issues and factors beyond traditional financial analysis. 

The concept of sustainable financing goes hand in hand with environmental and social impact assessment. Climate change features prominently within sustainable finance considerations, because there are lots of risk factors involved when it comes to global warming. These can include physical risks, such as damages from weather-related events. Although these may be difficult to quantify, insurance losses from climate-related natural disasters are said to be four times higher than 40 years ago. 

It’s no wonder that growing numbers of influential companies are joining the RE100 initiative, a global corporate renewable energy movement. 

In general, global energy investments are set to increase by 8% in 2022, with most of these being directed towards green energy. But while COP26 was seen as the conference to shift more of the weight from governments towards the private sector, it’s up to this year’s COP27 to further define the parameters by which the private sector can best finance the energy transition. 

Leading examples

On the road towards net zero, we believe it’s important to be critical, while also taking note of good practices. Projects such as the ones below are leading by example, affecting change on a regional level, and inspiring change on a global scale.   

CountryProjectWhat sets it apart 
EcuadorRights of Nature The first country in the world to recognize the rights of nature in its constitution, setting a precedent for others to do the same. 
European UnionThe European Climate LawMakes the EU’s commitment to reaching climate neutrality by 2050 legally binding, and sets an intermediate target of reducing net greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels.
United StatesPresident’s Emergency Plan for Adaptation and Resilience, PREPAREThe United States is rapidly increasing its support of adaptation and resilience programming to help more than half a billion people in developing countries adapt to and manage the impacts of climate change.

Moving forward

One of the benefits of having a global summit for climate change is how it sets up, on a world stage, the call for urgent climate action. Goals such as net zero by 2050, for example, solidify a narrative that places the future at our doorstep. 

The fact remains that temperatures continue to rise. It’s also a fact that the energy sector has a major impact on climate, as it accounts for roughly two thirds of all greenhouse gas emissions. In addition, energy needs continue to grow. 

A clean energy strategy is therefore a surefire way to meet national (public and private) and international net zero targets. Why not work with Atlas, on the road to meeting those targets? 

Atlas Renewable Energy was conceived with sustainability at its core. It develops, builds, finances, and operates clean renewable energy projects that enable companies to power their operations sustainably.

With a range of services, from renewable power purchase agreements (PPAs) to renewable energy certificates (RECs), Atlas helps large energy consumers across industries manage their transition to net zero and track their performance against long-term environmental and emissions targets.

To find out more about Atlas Renewable Energy’s approach and how it can align your company with net zero, please contact: contacto@atlasren.com

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Brazil is the biggest electricity market in Latin America and one of the largest in electricity generation capacity in the world. The current electricity market design in Brazil is a combination of regulated and free markets along with a reserve energy market and contains numerous complexities – but also several opportunities. One of those is self-generation – the production of electricity for companies’ own consumption.

Figures from Brazil’s Energy Research Office (EPE) show that since 2009, the installed capacity of self-generators in Brazil has more than doubled to over 25.3 GW, and for good reason: self-generation enables companies to cut costs, reduce risks of lack of supply and increase the sustainability of their activities.

Lucas Salgado, senior commercial manager at Atlas Renewable Energy, explains the trend and outlines how companies with operations in Brazil can take advantage of self-generation to achieve their energy strategy goals, without having to become experts in the electricity market.

Q: What are the benefits of self-generation of electricity?

A: In Brazil, self-generation has a very clear economic benefit, including savings on sectorial charges like CDE (Conta de Desenvolvimento Energético), CCC (Conta de Consumo de Combustíveis), and Proinfa. Companies can also benefit from incentivized energy and have a 50% discount on transmission or distribution tariffs (see graphic below). This tax applies to electricity consumption, and the rate differs by region and by voltage level. This can represent a saving of as much as 25% on a company’s energy tariff. Beyond the economic benefits, though, self-generation can enable companies to achieve their sustainability goals, since they are supporting the energy transition by investing in renewable energy and can benefit from carbon credits or renewable energy certificates (RECs).

Q: How does self-generation work in Brazil?

A: Industrial self-generators are large energy consumers who build power plants that totally or partially meet their own demands. In Brazil, this has often been in the shape of mining companies that run their own hydropower and thermal power facilities to power their operations, although in recent years there has been a transition to wind and photovoltaic complexes. Nowadays, consumers can enter special-purpose partnerships with electricity producers that enable them to become shareholders in an electricity project, making them self-generators in their own right. A model that has already benefited companies from multiple sectors such as metallurgy, chemical, retail, and data centers as shown on the recent PPAs Atlas has celebrated with Albras and Unipar Carbocloro.

Q: How do these special-purpose partnerships work?

A: Essentially, they create a framework whereby Atlas and the Customer co-invest together in a company, and Atlas can handle the EPC and the financing until reaching the COD of the project, safely based on Atlas’ track record and housed in our proprietary portfolio.

Q: At what phase in the construction and development of a renewable energy project can companies enter into a self-generation partnership?

A: They can enter at any phase of the project and the decision of what point of the project the off-taker will invest in will depend on their risk assessment. We are prepared to support the off-taker at any point in their decision of this process.

Q: Do companies need to be large energy consumers to benefit from self-generation?

A: Our clients do still tend to be the large consumers in sectors such as mining and chemicals, and we’re seeing growth in the green hydrogen sector, too. Usually, projects range from 400 to 700 megawatts of power capacity. However, using the partnership structure, Atlas can offer self-generation to smaller energy consumers. By doing this, we are democratizing access to the self-generation market, and enabling it to reach scale.

Q: Do companies need to be physically located near the power plant?

A: No, the plant doesn’t need to be on-site, and nor does it have to be in the same price market within Brazil. We can offer a portfolio in whichever state or price market best suits the client – one example is the Albras self-generation PPA project that we signed recently. In this case, the client is located in the north of Brazil, while our PV plant is located in the southeastern energy submarket of the country.

We manage the risks for them and deliver the energy into their price market. Our solutions are as tailor-made as possible based on our development portfolio. For example, solar projects in different regions can meet the energy needs of different industrial facilities, but we can also carry out long-term swaps both within our internal energy portfolio and with trading companies to give the client what they need, which is usually 100% renewable energy in the same price market as their industrial plants.

Another interesting factor for our clients is the ESG and sustainability aspect that we embed into each of our projects. This means that as self-generators in partnership with us, clients are not only investors in a renewable energy project, but they are also supporting initiatives that positively impact their community and be part of all of them through our ESG services.

Q: What do companies need to bear in mind when choosing a partner for a self-generation project?

A: First of all, having a partner that understands the legal and regulatory landscape is absolutely vital. Proposed legal changes on the horizon could impact the ability of companies to take advantage of the benefits of self-generation, so there really is a window of opportunity here, but companies need to move quickly.  Second, is key to establish a partnership with a company with a strong implementation track-record. A company that is able to develop, finance, and build a large renewable cluster.

This is also a long-term partnership. Some of the key aspects to look out for are the ability of your producer to be able to manage your energy risks, and that the project can be implemented on time. At Atlas, our approach is to engage the whole company in the process. Our finance team talks with the client’s finance team; our legal team talks with the client’s legal team, and so on. This is a joint venture, and there needs to be alignment and trust between both sides.

It doesn’t matter if you’re a large multinational or a smaller energy consumer, you need to have your whole operation engaged in this process because there can be accounting issues, legal issues, and regulatory issues. It is a complex process, but, with the right partner, the benefits it can provide definitely make it worthwhile.

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Last year, International Renewable Energy Certificate (I-REC) sales in Brazil more than doubled to 9.5 million, up from 4 million in 2020. Atlas Renewable Energy takes a look at the trend, and explains what companies need to know before using I-RECs to meet their sustainability objectives. 

“We’re receiving an increasing number of enquiries from international and national companies with operations in Brazil about I-RECs,” says Felipe Maldonado, commercial analyst at Atlas Renewable Energy, which holds one of the largest solar energy portfolios in Brazil, with almost 1.6 GW of contracted projects. It recently became the first solar developer in the country to offer Brazilian RECs that foster all of the 17 United Nations’ Sustainable Development Goals.

“These enquiries fall into two main groups: companies that already understand I-RECs and want to purchase them, and those who are looking for guidance,” says Maldonado. He adds that companies are particularly interested in understanding how I-RECs can help them achieve their sustainability goals, and how they differ from other instruments such as carbon credits.  

I-RECs are just part of the solution

Although it may be tempting for executives to think that simply purchasing I-RECs is enough to become “green”, this is far from the case. Numerous regulatory bodies around the world, from the Securities Exchange Commission in the United States to the Monetary Authority of Singapore, are cracking down on so-called corporate greenwashing, enforcing disclosure standards on environmental, social and governance (ESG) reports as vigorously as they uphold rules for other corporate reporting. There are no shortcuts here, but I-RECs should – and can – be used as part of a wider integrated climate action strategy. 

“The first step is to carry out a carbon inventory in order to find out the level of CO2 emissions your company is responsible for,” says Maldonado. Armed with this information, companies can then take steps to reduce their carbon footprint, through changes in production, transportation, and manufacturing practices, for example. For large electricity users, making the switch to renewables through a partnership with Atlas is an obvious way of slashing emissions. “Where I-RECs – and other instruments such as carbon credits – come in is for those emissions that are impossible to reduce,” explains Maldonado. 

Globally, the I-REC market is still at a relatively nascent stage, but demand is increasing as more and more corporations commit to 100% renewable energy consumption and climate disclosure objectives as laid out by the CDP and RE100. 

“Although it’s not yet mandatory for companies to neutralise their carbon footprint, many business leaders are taking proactive steps to align their environmental strategy with global best practice,” says Maldonado, adding that growing reputational risk and pressure from customers are driving an increasing number of companies to look at ways of slashing their CO2 emissions. “Our approach at Atlas is to partner with those companies to help them leverage I-RECs to reach their goals.” 

Avoiding greenwashing

These goals include meeting compliance with external and internal renewable energy targets, as well as giving their environmental claims real substance – helping them to avoid greenwashing. “One I-REC avoids the emissions created by the use of 1 MWh,” says Maldonado. In 2021, every 1MWh of energy consumed in Brazil created 120kg of carbon emissions – up from around 50 kg in 2020. This huge increase was caused by a rise in thermoelectric generation as a result of the worst drought in almost a century, which saw the country’s hydroelectric capacity fall as dams dried up. 

“In a country like Brazil where the effects of climate change are already so visible, companies that are serious about tackling their emissions can make an important statement through the use of I-RECs, which enable them to make certain claims about their climate impact,” says Maldonado, adding that several companies seek to do this in order to strengthen their brand value and gain a competitive edge in the future low-carbon economy. “However, it’s vital to do this in the right way. Before making any claims, they need to bring in a consultancy to verify that they are using the appropriate number of I-RECs to compensate for their emissions. By doing this, the company – and its customers – can ensure that they are in line with the Scope 2 guidance of the GHG Protocol.” 

Gaining internal buy-in

Given the current global economic and geopolitical backdrop, convincing already overburdened business units to invest in I-RECs or carry out voluntary climate action activity is often a challenge for sustainability officers within large companies. “Overwhelmingly, ESG teams face challenges in developing a roadmap for achieving net-zero,” says Maldonado. “Management wants to report their carbon emissions and reduce their footprints, and they want to demonstrate credibility to investors, customers, civil society, and other stakeholders, but finding a way to do this while also leading the business through challenging times often represents a barrier.”

However, companies don’t need to go it alone. Numerous consultancy firms can help them develop an I-REC strategy that best matches their goals.

“For companies that don’t have in-house expertise on GHG accounting, the liaison tends to be either a broker or a consulting company. These intermediaries ensure their clients buy I-RECs to help offset their emissions properly, taking the uncertainty out of the process,” says Maldonado. “As internal conversations evolve and executives within companies become more familiar with the finer details of decarbonization, they tend to reach out to us directly via their in-house ESG or sustainability teams.”

Contributing to a more sustainable future for Brazil

As more and more companies with operations in Brazil look for tangible ways to deliver on their renewable energy promises, I-RECs are demonstrating their worth as the most credible way to account, track and assign ownership of renewable energy, as well as encourage the generation of more clean electricity by providing a demand signal to the market.

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As a growing number of companies around the world publish commitments to reduce their greenhouse-gas emissions in order to reach net zero, the pressure is on to ensure they live up to their claims. International Renewable Energy Certificates (I-RECs) can provide a certifiable way of proving corporate action to slash scope 2 emissions. Atlas Renewable Energy explains how.

Investor and regulatory scrutiny of climate risk is rising, and consumers and employees are increasingly factoring sustainability into their decisions. It’s no longer good enough to make ambiguous commitments. Indeed, proposed changes to the US’s Securities and Exchange Commission’s rules on reporting risk will mean that companies will need to provide detailed reporting of their climate-related risks, emissions, and net-zero transition plans. Similar measures are also underway in the European Union, Hong Kong, Japan, New Zealand, and the United Kingdom.

Among the proposed rules are better reporting of Scope 2 emissions, which are emissions generated by the energy a company consumes. Nearly 40% of the world’s greenhouse gas emissions can be traced to energy generation, which means taking action to reduce Scope 2 emissions is vitally important to limit global temperature rises.

Achieving this means tackling the carbon footprint of electricity use. While energy conservation measures and efficiency upgrades represent low-hanging fruit that companies can take advantage of to start slashing emissions, the real action comes from switching to clean electricity. By using and producing renewable energy, companies can take real action on climate change and meet increasingly stringent expectations from investors, regulators, and consumers.

However, many businesses are still unable to source renewable energy directly. 

For example, this could be due to the small size of energy demand at a company’s numerous small, scattered facilities, which make it more challenging to execute contracted purchases. It could be a result of a lack of availability of renewable energy in countries in which the company has facilities, or it could be due to the type of electricity market or regulations in the location where the company operates.

While all markets will develop eventually, companies need a solution now. 

In locations with limited or no opportunity to procure economically priced, commercial quantities of renewable electricity, and when a company has reached the limit of the energy demand reduction and renewable energy production it can achieve, the purchase of energy attribute certificates (EAC) enables them to cover the last mile towards 100% renewable energy. This allows them to reduce Scope 2 emissions, claim environmental attributes of renewable electricity, and meet sustainability commitments and goals.

The types of EACs available in each market differ, but for most of Atlas’s customers, the I-REC scheme is the most relevant. 

The I-REC Standard is an internationally recognized method for electricity attribute allocation. Each I-REC represents the unique ownership of 1 MWh of renewable energy that has been produced and injected into the grid.

But for I-REC purchases to contribute to meeting scope 2 emission reduction goals, it’s vital to use them correctly. 

The role of EACs in reporting against scope 2 emissions has been brought into question recently, following a study published in Nature Climate Change by a team of researchers, who found that some companies’ environmental claims were exaggerated because the amount of energy reported on the certificates was not always equal to what they were publicly stating.

In response, the Science Based Targets Initiative (SBTi), a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI), and the World Wide Fund for Nature (WWF), encourages the use of EACs based on the Greenhouse Gas Protocol’s (GHGP) scope 2 guidance, has highlighted the need for boosting transparency about how companies meet their targets.

I-RECs serve to increase the transparency of the energy sector and provide clarity about the use of renewable electricity among end-consumers. The I-REC Standard ensures that issued certificates adhere to major international sustainability and carbon accountability standards, including the GHGP, CDP, and RE100, and adhere to stakeholder expectations of industry best practices. 

But for them to make a difference under the GHG Protocol Scope 2 guidance, they need to impact emissions properly. The GHG guidance is clear on this; when it comes to reporting Scope 2 emissions, there is a ‘location-based’ approach that reflects the average emissions intensity of the local grids on which energy consumption occurs and a ‘market-based’ approach that reflects emissions from electricity generation that companies have purposefully chosen, enabling businesses to use their purchasing power to accelerate the deployment of renewable energy.

What this means is that companies should purchase I-RECs from generation sites located within the same energy market jurisdiction as their energy usage. 

What’s also extremely important is third-party verification. It isn’t enough anymore to simply make unsubstantiated claims. Bringing in external bodies helps ensure that an I-REC system is being used correctly and that a company’s claims about the energy they use are reliable. To make their claims credible, companies should have a third party verify their redemptions and verify that the correct number and type of I-RECs have been redeemed.

By using I-RECs correctly, companies can not only make a conscious, transparent and evidence-based choice to lower their scope 2 emissions, but they can also enable the development of more renewable electricity installations. 

Companies are responsible for addressing their Scope 2 emissions in a way aligned with the current climate science. While this can be complex, with the proper guidance, it can be achieved. To find out more about how to develop a balanced strategy that ensures a real impact and avoids greenwashing, contact Atlas Renewable Energy today.  

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The mining sector is one of the world’s largest energy consumers. As renewable energies become more accessible, it’s time to take stock of what mining companies have to gain by making the switch.

This topic was precisely the focus of Atlas’s most recent participation at the Prospectors and Developers Association of Canada’s annual convention, a leading event for the world’s mineral industry. Representing over 6,000 members across the globe, the PDAC works towards supporting a competitive, responsible, and sustainable mineral sector. With these keywords in mind, Atlas’s Head of Commercial, Renato Valdivia, argues that “both the renewable energy and mining industries share certain key goals and incentives.” Below, we look at how both industries can help each other meet these goals.

Renewables make commercial sense

From a business point of view, the pros of renewable energy primarily point to reduced operating costs. According to a study conducted by Deloitte, incorporating renewables can reduce operating costs by 25% in existing mining operations and up to 50% for new mines. Given that energy usage constitutes roughly 30% of total operating costs for most mines, it’s worthwhile to consider long-term strategies that can accommodate growing energy needs in the most sustainable and cost-effective way.

Renewables allow for tailor-made solutions

Perhaps the most significant obstacle when it comes to integrating renewable energies has to do with lagging perceptions about the reliability of green energy sources and the complexity of navigating power purchase agreements (PPAs). The benefit of securing an independent renewable energy contract, however, lies precisely in the ability to adjust PPAs to specific energy needs, rather than relying solely on energy sources that create their own problems in terms of waste and risk management.

It’s vital to understand how personalized PPAs can provide higher value solutions by taking into account the unique characteristics of a particular location, in combination with the demand profile of each mine. A ‘one-size-fits-all’ mentality will never be able to optimize energy expenditure, cost, risk, and sustainability goals.

Carbon emissions come with a toll

The mining sector accounts for 4-7% of global greenhouse gas emissions. Arguably more than any other industry, miners face incredible pressure by part of governments, investors, and society to reduce emissions. This pressure takes the form of regulatory frameworks to tax carbon emissions, which will continue to impact large energy consumers unless they take steps toward cleaner energy sources.

According to the World Bank, carbon pricing instruments have already been adopted in 40 countries, while others have been implemented at regional and local levels.

Valdivia’s suggestion would be to start with electrification as the first strategy to reduce the carbon footprint. “Green hydrogen can replace fossil fuels, should electrification not be an option,” he says. “Ultimately, we need to completely replace the use of fossil fuels if we want to reach net zero. This calls for the renewables sector and the mining sector to work closely together to find systemic solutions that can yield long-term synergies.”

Investors favor renewables (consumers do, too)

The need for long-term, systemic change is evident when we consider that more and more institutional investors are pledging to support fossil-fuel-free strategies. As such, the ability of miners to reduce their carbon footprint goes hand in hand with potential business partnerships. Mining organizations are therefore uniquely positioned to play an essential role in accelerating innovative transitions in energy production, management, and distribution.

An observation from PDAC’s annual conference is the growing awareness of the central role minerals play in the modern economy and how the green transition will drive steeper demand growth for certain elements, such as copper and lithium. This points towards a nascent business model for the mining sector, one that works for and with the development of new renewable energy technologies. The challenge is finding ways to balance expansion with efficient capital allocation and cost containment – however, a comprehensive sustainability strategy, where a renewable component (and design optimization of the operations around maximizing its use) when planning for a new mine or expanding an existing operation would serve to unlock access to preferential green financing schemes and reduce the perceived investor risk.

Along similar lines, mining companies need to consider the growing consumer demand for supply chains to provide green commodities. Larger clients such as Volvo and Mercedes are cementing these demands by making green steel commitments, which are due to come into place over the next five years.

It’s business-critical

The shift toward renewable energy invariably falls under the umbrella of more significant environmental, social, and governance concerns.  Due to their scale and intervention, mining projects tend to generate a lot of attention regarding ESG.

Mines require licenses to operate, which in turn are conditioned to ESG strategies. In this light, renewable energies offer more than simple cost savings. They also form a part of strategies that preserve a mine’s social license.

Atlas’ business model has always been about finding ways to provide innovative and tailor-made clean energy solutions for large energy consumers while acting as agents of change and stewards of social justice in the communities we touch. From our perspective, it’s all about pushing the concept of sustainability beyond clean energy toward an all-encompassing model for economic growth that strives for regeneration over depletion.  Ensuring the triple bottom line is ultimately the most significant return on investment.

Although social and environmental benefits may be harder to quantify, they do create shareholder value.

A new mining model

The challenge for the mining industry is to determine how to provide the minerals the world needs to prosper, all the while making their operations part of the solution to address climate change.

Answering this question requires a willingness to rethink operational processes and enough leadership to transform an entire industry.

Current trends indicate that the move towards renewables is on the rise. Mining industry leaders should not delay in pursuing this course, or they may find themselves on a higher cost curve, playing catch-up with competitors.

It’s through the lens of renewable energy strategies miners can position themselves as key players in the technology and innovation space, attracting the interest of a specialized workforce and forward-thinking investors – all the while serving the communities where they operate.

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On August 16, the United State’s President Joe Biden signed the Inflation Reduction Act (IRA) of 2022 into law, marking the country’s first-ever piece of climate legislation.

At the heart of the IRA, which the president called “the biggest step forward on climate ever”, are billions of dollars in climate and energy spending that, if implemented, will reduce the US’ greenhouse-gas emissions by about 40% below their all-time high and take it two-thirds of the way to meeting its 2030 goal under the Paris Agreement.

With provisions to expand wind and solar production and bring climate-friendly technology such as electric vehicles closer to the financial reach of more Americans, the IRA has the opportunity to accelerate the US’ energy transition – but there are a few caveats.

What’s in the IRA?

The Inflation Reduction Act is a major legislative package that covers a wide range of areas, from drug prices to taxes. The bulk of the act, however, addresses climate protection, with a proposed investment of US$369bn in energy security and climate change programs over the course of the next 10 years. The key components of the energy provisions aim to lower energy costs in the US, increase American energy security and invest in decarbonizing all sectors of the economy via innovative solutions.

For consumers, the IRA proposes direct incentives to buy electric vehicles, energy-efficient appliances, and rooftop solar, including a US$4,000 consumer tax credit for lower/middle income to purchase used electric vehicles, and up to US$7,500 tax credits for new clean energy vehicles.

For manufacturers, the act includes over US$60bn to bring clean energy manufacturing onshore, as well as incentives to reduce inflation and the risk of future price shocks by bringing down the cost of clean energy and clean vehicles and relieving supply chain bottlenecks. This includes a US$10bn billion investment tax credit to build clean technology manufacturing facilities and US$20bn in loans for new clean vehicle manufacturing.

For the wider economy, the IRA replaces sticks with carrots by using subsidies, rather than carbon taxes, to address climate change. It will invest in carbon emissions reduction via tax credits for clean energy sources, with US$30bn in targeted grant and loan programs, and tax credits for clean fuels and commercial vehicles.

A further US$27bn has been earmarked towards a green bank to provide incentives for clean energy technology, while the IRA’s provisions include investments in the technologies needed for all fuel types, including hydrogen, nuclear, renewables, fossil fuels, and energy storage, to be produced and used in the cleanest way possible. This will mean grants and loans for companies reining in their emissions, and fees on producers with excess methane emissions.

What will be the impact on renewable energy?

The cost of both solar power – which the International Energy Agency calls the “cheapest source of electricity in history” – and wind power has dropped in recent years, and the new legislation is expected to push down costs even further.

Currently, very few solar panels are made in the US, but the IRA proposes to change that by providing incentives for new factories to make every subcomponent of the solar supply chain as well as paying those factories for every item that they produce. The IRA will restore the current renewable energy Section 451, which is a production tax credit (PTC), as well as Section 48, which is the investment tax credit (ITC), to their full pre- “phaseout” rates, just as these tax incentives were set to expire or wind down. This means greater incentives for generators. Another type of tax credit would be aimed at clean energy companies to deploy more solar, wind, and batteries on the grid, extending existing credits another 10 years.

What’s more, it will add an advanced manufacturing tax credit for manufacturers of solar and wind components in the United States. Meanwhile, clean-electricity tax credits will cause demand for renewable projects, as well as new solar panels, wind turbines, batteries, and other components, to boom. And because of the interconnected global nature of the economy, this could help those technologies become more easily available to other countries, too.

What will be the IRA’s impact on climate change?

Various estimates from the scientific community put the reduction in US greenhouse-gas emissions at about 30-40% below 2005 levels by 2030 as a result of the IRA, bringing the US closer to delivering President Biden’s pledge of a 50% reduction which he made last year.

However, for some environmental advocacy groups, the IRA doesn’t go far enough – especially because it includes multiple provisions that increase fossil fuel production. One group, the Climate Justice Alliance, has gone so far as to oppose it, arguing that its harms currently outweigh its benefits.

And while the IRA is a historic piece of legislation that signals to other nations that the US is now on board to address climate change, the country still has some way to go when it comes to catching up with climate action elsewhere.

Even with the Inflation Reduction Act, green investments by the United States since 2020 lag behind those of France, Italy, and South Korea when historical emissions are factored in, according to data from the University of Oxford’s Global Recovery Observatory.

Meanwhile, compared to its neighbors in the south, the US is only getting started when it comes to climate change legislation. In recent years, Mexico, Guatemala, Honduras, Colombia, Peru, Brazil, Argentina, Chile, and Paraguay have all enacted climate laws that establish measures to promote more sustainable economies and reduce emissions.

What’s more, much of the region is already playing a world-leading role in renewable energy generation. At a recent event hosted by Duke’s Energy Initiative and the Nicholas Institute for Environmental Policy Solutions and funded by the US Department of State, Christine Folch, assistant professor of cultural anthropology at Duke University, said: “In the United States we get about 20% of the electricity we consume through renewable energy resources. We get almost two-thirds of the electricity consumed by burning fossil fuels. There is only one region in the world where this is not the case, and that is Latin America.”

She added: “What that means is that as we’re thinking about a post-fossil fuel world, as we think about the politics and economics that come from a transition from relying mainly on fossil fuels to moving to renewable energy resources, the area of the world that can show us about what that might look like is Latin America.”

What is the Atlas viewpoint?

As a company truly committed to building a cleaner, more sustainable future, Atlas supports the US government’s action to advance renewable energy investment and take crucial steps to tackle the urgent crisis of climate change.

Whether the law can live up to its historic promise will now depend on whether these subsidies and massive investments can be deployed quickly and at scale. Private sector companies such as Atlas, with experience in rolling out renewable energy infrastructure across the Americas, will play an important role in implementing the IRA’s vision.

Although the world still has some way to go in achieving the goals laid out in the Paris Agreement, the bold action in the IRA is a major inflection point, and we look forward to seeing more governments around the world take positive action that is good for the climate, and good for the future.

In partnership with Castleberry Media, we are committed to taking care of our planet, therefore, this content is responsible with the environment.

The nature of renewable energies calls for a diversified approach toward energy production, storage, and consumption. However, there is still the desire for most large energy users to seek a one-stop-shop solution. 

Atlas’s focus on tailor-made power purchase agreements (PPAs) is guided by the understanding that renewable energy efforts are more successful when they incorporate a variety of resources and methods of storage and distribution.  

In a system that’s no ‘one size fits all,’ making the step towards an electricity supply that is renewable, clean, and green can present a challenge for corporations who are increasingly looking at going beyond 100% renewables to 24/7 green power.  

In this ever-evolving field, it’s important for large energy buyers to work with providers who take on the necessary risk assessments and analyses and who seek to position themselves at the forefront of technological developments. Ultimately, the goal is to build a long-term collaborative relationship that will keep clients at the vanguard of renewable energy options. 

Atlas’s Head of Commercial, Renato Valdivia, walks us through these points and more in our interview below: 

Q: How does the intermittency issue present itself in your discussions with potential clients? 

A: We’ve noticed that the main concern of potential clients with large 24/7 renewable electricity requirements, who are looking to absorb solar and wind power within their overall PPA, is being able to find a single solution that solves all their electricity needs. 

By the very nature of how renewable energy works – after all, there are days when the sun isn’t shining, or the wind isn’t blowing – there is an inherent need for risk management. However, it’s important to remember that energy markets have two layers to them: there’s the physical level of energy production, which is where we experience the intermittency issue, and then there’s the financial layer. When we speak of the financial layer, we’re referring to the financial instruments that overlay PPAs. 

Financial instruments go a long way to mediate intermittency risks – and a PPA will always define how risks are assigned in accordance to delivery obligations – but renewable energy providers like Atlas are themselves evolving to tackle the issue of intermittency by transitioning towards a portfolio approach that allows them to offer clients a combination of energy assets that are tailored to meet specific energy needs. 

One example is the recent PPA that Atlas established with Enel, which harnesses wind energy from three different locations in Chile in order to ensure constant energy production. Portfolio-styled PPAs can also include a combination of different energy sources as well as battery storage. This is becoming more and more the paradigm by which Atlas operates. 

Q: How exactly do you structure that kind of portfolio? 

A: To be able to do this, you need very strong analytical capabilities and risk management tools. While everything can look good on an as-expected basis, you need to move toward risk analysis in order to take into account the natural variability of our business. This variability can be in the form of wind patterns or changes in power grid prices. The client’s demand or grid conditions can also change. These are all things that need to be modeled to gain a good assessment of how well your assets are able to deliver and how, as an energy provider, you’re going to manage the outstanding exposure so that you can provide clients with what they are looking for at a reasonable risk level for you, as a generator, and at a reasonable price for them. 

Essentially, it becomes critical to evolve your commercial and risk sophistication as a company. In this sense, Atlas is operating from a more complex order of magnitude, where we want to integrate the concept of risk management and intermittency within a more flexible and diversified understanding of how to truly achieve clean energy targets. 

Q: Speaking of energy targets, many corporations rely on energy attribute certificates such as I-RECs as a way to make renewable electricity claims. Is this still a valid option? 

A: It is still a valid option, but over the last decade, we have seen that corporations – especially in the tech space – are going one step further. For example, Google, Microsoft, and most recently, the U.S. Department of Defense have all joined an initiative that pledges not only 100% renewables but also 24/7 clean energy. 

It’s important to note the difference because a 100% renewable energy target might lead you to procure a PPA that only includes solar energy, for example, because that may be the cheapest option – but if your target is to meet 100% clean energy, then that gives you the incentive to procure a PPA that includes wind power, or PPAs that are backed by battery storage and other technologies that would allow you to receive clean energy even in the hours or days in which renewable resources are most scarce. 

Q: Battery storage is often seen as an obvious way to tackle intermittency issues. Is current technology at the level that allows for batteries to function as a viable storage option yet? 

A: Batteries have experienced an incredible run of technological improvement and cost decrease over the last five years. Is the technology there? It’s still improving, but it’s there, and as more investment flows into the space, we’ll start to see even greater innovation and cost reductions. 

An added benefit of batteries is that they serve to stabilize the grid. Sometimes you have a large influx of solar and wind energies in power markets, given that these are variable technologies, and having a certain amount of battery or storage capacity in the grid helps to reduce volatility, which ultimately adds value. 

However, it’s important to stress that batteries are not an all-encompassing solution. If the aim is to reach 100% renewables or 100% clean electricity, we need to see the role that batteries play as a complementary, albeit very important, one. 

Seasonal patterns require innovative solutions and the road to 100% renewable and clean energy is fundamentally about finding ways to harness and distribute energy through the most ecologically and economically sound methods. This inherently rules out a one-focus solution. 

Ultimately, It’s never going to be about only solar or only wind. Of course, the exciting part is that we are in the process of discovery. New chemistries and technologies are constantly springing up, but the bottom line is that it’s not enough with only solar, wind, and batteries: there’s got to be something else. So, while we keep deploying and making efforts to invest more in solar, wind, and batteries, we also need to keep funding the startups that can deliver the solutions that will get us all the way and not just 80% or 90% of the way. 

Q: It’s precisely the quest for new solutions that leads Atlas towards new partnerships and collaborations, such as your most recent partnership with Hitachi ABB Power Grids. Could you share some insights on what you’ve learned by working alongside ABB? 

A: ABB has been a great partner by helping Atlas jump-start our know-how about battery solutions that complement our PPAs. We’ve learned so much about the range of technologies that are available. 

From the outside, it’s easy to bundle the idea of battery storage as a single concept. But there is a range of technologies, and it’s important to distinguish which are best suited for different applications. To do so, clients must have a detailed understanding of their business case. 

For instance, you may want your PPA to shift power from solar hours to peak hours – and there are certain batteries that are designed to do that. There’s also the option to choose between Alternating Current (AC) or Direct Current (DC) solar batteries, both of which have a range of implications in terms of cost but also in the flexibility you have to operate on the grid. 

With so many options available and more on the way, it’s definitely a complex but highly interesting and dynamic field. I think the most important thing to take away from all this is the need to work with savvy companies that are prepared to take advantage of all these technologies and provide clients with a range of tools to play in the power market. 

Q: With your current strategy, is Atlas guaranteed to meet any and all requirements from big energy clients? 

A: I’d love to be able to say yes, but the reality is more complex. There’s not always going to be a single generator that can solve all of a client’s needs if those needs are very complicated. I’m thinking of energy users with unusual load profiles, for example – although these are very rare. But, I would say that in most cases, we can design solutions that solve a good part of any client’s electricity needs and sustainability targets.

If you’re a client with a big load profile, my advice would be to shop around. You need to see what the range of potential providers can offer to you. I would always encourage you to talk to Atlas – I think we’ve proven by our track record in innovative solutions in different markets and the awards that we’ve received that we are not afraid to think outside the box. Our clients come from a whole range of industries, with hugely different electricity needs, from large utility companies to the chemicals sector, mining companies, and IT service providers. Above all, we’re ready to go the extra mile to try to deliver our clients the solutions that they’re looking for. 

In partnership with Castleberry Media, we are committed to taking care of our planet, therefore, this content is responsible with the environment.

Whenever money is involved—especially with contracts—things can get complex. Then add volatile conditions, such as the recent pandemic, war, the climate crisis, and inflation, and things get even more complicated. These conditions have serious side effects, one of them being currency volatility. According to a 2021 article by DailyFX, currency volatility is “characterized by frequent and rapid changes to exchange rates in the forex market.” Basically, it means that currency value is unpredictable and virtually impossible to control. 

Electricity prices can fluctuate as well. This compounded unpredictability is often the motivator for companies and owners of renewable energy projects to secure a power purchase agreement or PPA. Yet, there are signs that the current market volatility may impact these agreements over the long term. For example, a recent Pexapark report highlighted in Reuters states that the recent energy price volatility will have a lasting impact on the clean energy PPA market, which includes fewer long-term contracts. 

But despite the recent volatility, PPAs can still provide a source of stability. According to an article by Martijn Duvoort of DNV, “PPAs have been a valuable tool in financing the energy transition to date, particularly in the USA, Latin America, and recently, the Nordic countries. With governments in many regions looking to phase out subsidies and feed-in tariffs, new renewable energy projects will be far more exposed to the fluctuations of the open markets. PPAs help to mitigate against the risks associated with such fluctuations, and will become an even more important tool for encouraging investment in new projects.”

So, where do we go from here? Let’s start at the beginning.

Power Purchase Agreements: The Basics

A PPA is a contract between a consumer and an energy-generating unit or portfolio thereof. There are two major categories of PPAs: physical delivery PPAs and virtual PPAs (sometimes called financial PPAs). The usual contract duration is between 10 and 20 years. The PPA negotiation is complex; it requires legal and occasionally technical advisors, and the typical time it takes to negotiate is 3‒9 months.

Given that power networks link generation units with demand, a PPA is not limited to on-site generation assets; most of the time, power generation is located offsite, sometimes not even within the same region. The PPA process can begin with a brand-new energy project that is ready to be built (including the location, size, and connection to the grid that is already agreed upon) or an existing project that has available generation capacity not committed in prior PPAs. For corporate PPAs, companies like Atlas Renewable Energy can help, especially as the need for international expertise grows.

Key PPA Benefits

As a mechanism enabling positive change, the PPA, at its core, aims to provide price certainty on electric power—fixing competitive energy costs for the client and providing cash flow stability to the generation asset, which is central to securing financing—which is why guarantees are so crucial in these agreements. However, PPAs can also be used to further a corporation’s sustainability goals, committing to buy only renewable energy from renewable energy projects that will be purpose-built and operated (a concept called “additionality”). As a result, companies can reduce their carbon footprint and partner with renewable generation companies with strong and recognized environmental, social, and governance credentials, thereby benefiting the environment, communities, and other stakeholders related to the renewable energy project. 

Further, to help offset the ongoing changes, currency volatility, and price fluctuations mentioned earlier, a PPA has the ability to hedge against future price increases by allowing business owners to lock in a fixed price-per-unit of electricity over the duration of the contract.

Simplifying the PPA Process

Once a company decides it is ready to engage in a PPA, the following steps can help make the process smoother:

  • Begin sooner rather than later. Even with existing volatile prices, PPAs can take several months to negotiate. And typically, the project that will commit to delivering the energy is going to be purpose-built, which can add another 1–2 years until completion. Therefore, it is better to begin now, in case even more changes arise that will affect the overall pricing.
  • Conduct research on the existing market in Latin America, state policies for PPAs in the United States, and available providers (specifically on their reputation and track record—get references!).
  • Hire an experienced advisor with an established track record to guide the process as well as qualified legal counsel and technical and financial consultants for the negotiation phase.
  • Be prepared to ask critical questions about the PPA related to pricing, indexation, buyer and seller guarantees, duration, start date, commercial operation date, and risks.
  • Involve the stakeholders who will be a part of, or potentially affected by, the PPA. 
  • Obtain approval, as needed, from senior management, a parliament or legislative body, a regulatory body, or another host government entity.
  • Once approved and signed, continue to monitor the market as it evolves, as well as the asset’s value. Specifically, it is essential to create a strategy for this process, as well as perform a mark-to-market valuation as prices evolve.

PPA Risks

With any contract, there is a certain amount of risk. Even with PPAs, which have been around since the 1980s, there are risks that engaging parties need to plan for and be aware of. Noah Lerner of the Clean Energy Finance Forum discusses some of those risks as well as basis, shape, and operational risks in his 2020 article, “Navigating Risk: A Corporate PPA Guide.”

An additional, sizable risk for structuring PPAs is the actual currency on the contract is built. An article by Greentech Media states that there are several currency risks that those engaging in a PPA need to be aware of, including local currency devaluation, availability of financing, and convertibility (i.e., converting from the local currency to U.S. dollars or another strong currency).     

Converting to a currency that reflects the company’s cash flow is one way to help mitigate these risks. One example of using more competitive, international dollar-denominated financing was Atlas Renewable Energy’s recent 15-year PPA with Dow for Jacaranda, with its multimegawatt solar project in Brazil with a client that exports its production and thus receives dollar-denominated cash flows. The contract was secured with U.S. dollar financing (67 million dollars, to be exact). As a result, the project can meet its goals of achieving round-the-clock clean energy (thanks to an additional commercial feature allowing the customer to receive electric power 24 hours a day) for its business operations, as well as benefiting from greater price certainty.  

During Volatile Times, PPAs Must Evolve    

Volatility exists in the world now more than ever, and it can have long-ranging effects. Electricity prices seem to change on a daily basis. And for regions like Latin America, fluctuating currency value is making it challenging to fund renewable energy projects at the contractual level. Right now, it can feel like risks abound. But even in highly uncertain times, there are solutions.  

What’s essential is that PPAs provide value. These agreements are at the forefront of getting renewable energy deployed worldwide. However, to do so, they must be structured in the right way so that all parties gain the price certainty and best financial outcome they need over the long term.   

But, like anything, PPAs must evolve—as conditions and currencies change, technologies emerge, and new purchasing or contracting options arise. As the renewable energy industry continues to grow, its related pricing can vary, becoming more complex. As a result, PPAs must strategically adapt to these ever-changing conditions to not only continue serving business owners and investors but help the world transition to a clean-energy (and financially feasible) future.

In partnership with Castleberry Media, we are committed to taking care of our planet, therefore, this content is responsible with the environment.

The next iteration of the internet is fast taking shape but making it a reality will require vast amounts of energy. Ensuring the future digital landscape doesn’t become an environmental nightmare means opting for renewables, accelerating the energy transition, and locking in a lower-emissions framework.

Run on networks that use consensus mechanisms such as blockchain, Web3 is a new decentralized version of the internet, which aims to give individuals more control over their data and experiences.  Meanwhile, the metaverse is a yet-to-be-realized digital and immersive world that enables users to interact digitally, be that using crypto-wallets to make purchases or virtual reality headsets to explore experiences. 

While both are digital, virtual spaces, they’re very much tethered to the physical world – thanks to the energy needed to power them. 

Despite all of its futuristic promise, the basic building blocks of the new digital landscape are computers and servers, and a recent blog post from Intel suggests that our global computing infrastructure will need to be 1,000 times more powerful than it is today in order to comfortably sustain it. This comes at a heavy environmental cost. 

In a study carried out in 2019, University of Massachusetts researchers calculated that training one large deep-learning model – for example, one that allows machines to work with natural language in a virtual environment – produces 626,000 lbs of planet-warming carbon dioxide or five times the lifetime emissions of an average car. 

At the University of Lancaster, researchers ran a scenario to find out what would happen if just 30% of computer gamers moved to virtual cloud-based platforms by 2030, and found that carbon emissions would jump by almost a third.

Meanwhile, cryptocurrencies, which will underpin transactions in the new online world, have become notorious for their energy intensiveness, with the University of Cambridge finding that crypto mining can consume as much as 121.36 terawatt-hours a year, or more than the annual energy consumption of Argentina or the United Arab Emirates, while the New York Times calculates that bitcoin consumes roughly 0.5% of all energy worldwide.

In today’s energy mix, where the majority of electricity worldwide still comes from non-renewable sources, the huge increase in power use brought about by Web3 spells disaster for the planet.

Around the world, irreversible climate change is already underway, from hotter temperatures to more severe storms and droughts. According to the 2022 IPCC report, released earlier this year, humanity has a “narrowing window for action”, and if we are to secure a livable future, deep cuts in greenhouse gas emissions need to happen now.

The green way forward 

However, before immediately writing off the metaverse and Web3 as an environmental disaster waiting to happen, it’s worth noting what Big Tech is doing to reconcile its own sustainability goals with the creation of a fully immersive digital landscape. Amazon Web Services (AWS), which provides cloud computing solutions for nearly a third of all web applications today, says it will power its operations with 100% renewable energy by 2025. Google has pledged to use 24/7 carbon-free energy in all its datacenters by 2030. Microsoft intends to be carbon negative by 2030, as well as halting the use of diesel in its datacenter generators. Meanwhile, Meta – which changed its name from Facebook to demonstrate just how much it believes in the metaverse – says that by 2030, it will reach net-zero emissions across its own operations and its value chain. 

What’s more, clean energy is increasingly being used to power cryptocurrency activities, with a report from the Cambridge Centre for Alternative Finance finding that nearly 40% of proof-of-work mining is powered by renewables. This is thanks in part to the fact that renewable energy is now cheaper than fossil fuels in most markets around the world, while fossil fuels are only set to become more expensive over time. Another positive sign can be found in the Crypto Climate Accord, inspired by the Paris Agreement. The industry-driven pact’s signatories have vowed to switch to renewable energy sources by 2025 and go completely net-zero, eliminating greenhouse gas emissions altogether, by 2040.

This proliferation of commitments is already outpacing our world’s transition to renewable energy, driving up demand for a greater percentage of the grid to come from clean resources. 

To meet this demand, a decentralized digital world needs decentralized energy sources. Crypto farms will need to be co-located with renewable generation and mining when there is an abundance of energy. Data centers are already entering into direct corporate power purchase agreements (PPAs) with renewable energy suppliers, enabling them to increase their actual use of clean power faster than if they relied upon the grid alone. Digital mining activities have locational flexibility, as has been shown by redeployment of its activity in response to regulatory changes, this means that digital mining activities can pursue the best geographies in terms of abundant and competitive renewable energy.  

Paving the way for a sustainable future

Ensuring that the metaverse and Web3 are powered by clean energy enables the truly transformative power of the new online world to take effect. Forward-thinking individuals who care about the future of the planet are already designing radical new ways for people and companies to be more sustainable via the new tech – from digital carbon credit coins to allow anyone to access carbon trading markets to non-fungible tokens that fund the planting of enough mangroves to sequester 20 million tons of carbon over the next 25 years.

While it’s true that – as things stand today – wide-scale adoption of the metaverse and Web3 would drive emissions up to dangerous levels, all indicators point to the companies involved choosing to combat these environmental challenges. The only viable option to power the future online world is renewables, and this huge surge in demand will drive enormous adoption of clean power, accelerating the energy transition for a better, more sustainable future.

In partnership with Castleberry Media, we are committed to taking care of our planet, therefore, this content is responsible with the environment.