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2015: The Year of Renewable Energy in Business

After a successful World Future Energy Summit in Abu Dhabi last month, Pedro Faria, Technical Director at CDP and Technical Advisor to RE100 explains why he is optimistic in the quest for renewable energy adoption across the world and in the Gulf Cooperation Council.

As landmark years go, 2015 is shaping up to be a significant one in the energy world. The true impact of the on-going slump in oil prices. For renewables, however, the future looks much brighter.

Denmark had set a new world record in wind power – generating nearly 40% of its overall electricity from wind in 2014.

GCC countries have over 30 year’s history in renewable energy projects, but we are increasingly seeing more ambitious projects being realized across the region. With increased activity across the entire energy industry value chain, building a strong renewables industry here in the Gulf will encourage the world to realize the potential power of green energy as a fuel source.

Many of the world’s largest companies are already convinced. In November alone both IKEA and Google furthered their investment in renewable energy with new wind farm deals.

Companies signed up to The Climate Group and CDP’s RE100 initiative are at the forefront of the movement to decarbonize the world’s power system.
These businesses, BT, IKEA, Mars and Swiss Re, amongst others, have pledged to procure 100% of their electricity from renewable sources.

The aim is that at least 100 other major businesses join RE100 by 2020 and make the 100% renewable resolution.

By Forbes Team in Forbes Middle East (FEBRUARY 01, 2015)

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