Energy retailer IGS commits to net-zero by 2040
One of the US's largest energy retailers, IGS, has announced a new commitment to reach net-zero emissions for its operations and the services it provides to its domestic and business customers by 2040, pledging to provide 100% renewable electricity and carbon-neutral gas.
IGS, which serves more than one million energy customers, will reduce the direct and indirect emissions from its operations and customer products and services to reach the net-zero commitment by 2040. IGS Energy will also purchase carbon offsets and Renewable Energy Certificates (RECs) from verified sustainability projects across the globe.
The Ohio-based energy company will offer the 100% renewable electricity and carbon-neutral natural gas to new residential customers from this week onwards.
“Energy companies have an obligation to be the driving force toward a sustainable energy future, and this is just one of many actions we are taking to meet that obligation,” IGS Energy’s chief executive Scott White said.
“People want to be responsible energy consumers, and it is incumbent on the industry to give them the resources to take charge of their own energy consumption for energy independence and a healthier planet.”
Over the next decade, IGS will aim to shift to clean energy solutions, including building on its existing solar division.
As a member of the Conscious Capitalism movement, IGS Energy has also committed $1.2m over the next two years to non-profits that are aiming to address sustainable energy access and challenges.
Renewable energy was listed as the fastest-growing energy source in the US, with generation capabilities increasing 100% between 2000 to 2018. Renewables currently account for more than 17% of the US’s net electricity generation.
While US President Donald Trump is pushing ahead with plans to withdraw the US from the Paris Agreement (while subsequently rolling back existing environmental legislation), the US could still have a place at the table on global climate discussions.
With COP26 now delayed to November 2021, if the Democrats were to win the upcoming election, they could decide to match the will of hundreds of US businesses by pledging to the Paris Agreement, which would see the country prioritise renewables further.
Globally, almost three-quarters of new electricity generation capacity built in 2019 consists of renewable energy technology – an all-time record – according to data from the International Renewable Energy Agency (IRENA).
IRENA’s data shows that fossil fuel power plants are in decline in the US (as well as Europe), with more decommissioned than built in 2019.