SOURCE: Global Sourcing CouncilDESCRIPTION:
This week, Global Sourcing Council's 17 Weeks for 17 Sustainable Development Goals (SDGs) explores SDG 7 with examples of corporate action to ensure availability and sustainable management of water and sanitation for all.
The Global Challenge:
SDG 7 has four dimensions, calling for energy to be affordable, reliable, sustainable and modern. The global economy’s reliance on fossil fuels and the increase in greenhouse gas (GHG) emissions is visibly affecting the climate on every continent. At the same time, one in five people lacks access to electricity. As the UN Development Programme notes, providing clean energy sources in all developing countries to meet rising demand will encourage growth while helping the environment.
The Business Opportunity:
Four in five executives say energy efficiency will play a more important role in their business in the future, the UN’s Sustainable Energy for All initiative (SE4All) has found. Sustainable energy provides new opportunities for growth, by enabling businesses to grow, generating jobs, and creating new markets. The International Renewable Energy Agency (IRENA) estimates that doubling renewables will save up to 15 times more than it costs to do so.
SDG 7 in Focus for Investors:
Goal 7 ranks first among the SDGs on which investors intend to take action in the next 15 years, according to ShareAction, a UK-based NGO seeking to “make investment a force for good.” And among the investors surveyed who are supporting the SDGs currently, 67% are taking action on Goal 7. Learn more.
Meanwhile, energy efficiency is highlighted in a report on long-term investment opportunities created by the SDGs. UBS argues that investors willing to commit to challenges related to “enduring structural trends” (population growth, aging, increased urbanization, resource constraints, innovation) “can benefit from potential mispricing created by the typically shorter-term focus of financial markets.” UBS notes that for each dollar invested in energy-efficiency measures, around two dollars can be saved in investments in electricity supply, and up to four dollars in electricity costs over the life-cycle of a product.
The report points to energy-efficiency investment opportunities in buildings, transport, and information technology. Demand for energy-efficient products could grow by 7-8% annually, it says, reaching $530bn annually in 20 years.
Click Here to Find Examples of How to Take Action such as:
- Identify Energy Trends in your Supply Chain - REN21 Interactive Map, IRENA Gateway, SE4All Global Tracking Framework and UNDP Review of LDCs and Sub-Saharan Africa
- Find Energy Access Practitioners in your Region - The Energy Access Practitioner Network
- Learn from Leaders Taking Action on SDG 7 – Vectren, JP Morgan Chase, J. Crew, Infosys and Voya Financial
- Amplify your Impact: Collaborate with NGOs and Other Companies - Global Alliance for Energy Productivity, Rocky Mountain Institute and Lighting a Billion Lives
- Join the Sustainable Sourcing Community: Become a GSC Corporate Member or Individual Community Member to Drive Results
- Highlight your Work for Sustainable Energy in Sourcing: Apply Today for 2016 3S Awards [2015 Nominee for Empowered Women Award Video: Solar Sister]
- Attend an Upcoming Event on Sustainable Business and SDGs
Contact us at the information below to learn how you can benefit by sharing your SDG story through our network.Contact Info:
Global Sourcing Council
KEYWORDS: Energy, Renewable Energy, SDG 7, Goal 7, Clean Energy, sustainability, global Sourcing Council (GSC)