Corporate and Government Collaboration for Clean Energy Investment Moves From Commitment to Action: Up to $100 Billion in Clean Energy Investment Potential Across the World
WASHINGTON–(BUSINESS WIRE)–Corporate energy demand has driven the evolution of energy markets in the U.S. through dedicated advocacy for policy and regulatory frameworks for clean energy. Today, the U.S. Department of State’s Bureau of Energy Resources and the Clean Energy Buyers Alliance announced the formation of a Secretariat for the Clean Energy Demand Initiative (CEDI) to maximize the engagement of leading companies interested in investing in energy infrastructure to meet their clean energy commitments and countries ready to create the enabling environment for that investment. The Secretariat will strengthen CEDI efforts by fostering public-private collaboration, maximizing potential for investment, and streamlining the investment process.
“Corporate energy customers have played an influential role in the clean energy transition by procuring over 57 gigawatts of clean energy in the U.S. alone. We are thrilled to co-lead the Secretariat with the U.S. Department of State to truly scale corporate demand for clean energy globally and accelerate decarbonization,” said Miranda Ballentine, CEO of the Clean Energy Buyers Alliance.
The Clean Energy Demand Initiative was launched in November 2021 with more than 75 companies committing to collaborate with 14 countries — potentially paving the way for over $100 billion in clean energy infrastructure investment. Today, those commitments have resulted in tangible actions thanks to collaboration amongst corporate energy customers, international governments, and policymakers.
“CEDI is founded on the principle that the energy transition is the most important economic opportunity of our generation. The Secretariat will ensure that CEDI has the people, operational structure, and funding to continue its efforts to unlock clean energy markets around the world and support CEDI’s extensive member network,” said the U.S. Department of State’s Assistant Secretary for Energy Resources Geoffrey Pyatt.
“CEDI brings companies and countries together to unlock corporate procurement of clean energy and fuel broader economic growth. The Secretariat will amplify this work to extend CEDI’s impact on clean energy deployment around the world,” said the U.S. Department of State’s Deputy Assistant Secretary for Energy Transformation Anna Shpitsberg.
As part of this initiative, Google.org is giving a $1M grant to support the Clean Energy Buyers Alliance’s internationalization, enabling the organization to establish CEDI’s Secretariat and supporting CEBA to identify barriers to clean energy and unlock solutions in critical markets around the world.
“Ambitious climate action requires that companies and governments work together to accelerate the energy transition in every region to help the world achieve 1.5 degrees Celsius. We are pleased to participate in CEBA and CEDI’s efforts to advance clean energy around the world: this is the kind of public-private partnership we need to help businesses and governments meet their climate goals, decarbonize global electricity systems, and build a more sustainable future,” said Kate Brandt, Chief Sustainability Officer at Google.
Energy customers have championed clean energy procurement since the 2008 announcement of the first renewable energy project in the United States, and widespread support for the clean energy transition from businesses, federal, and international stakeholders continues to grow. Clean energy records were broken in 2021 with global energy sector investments hitting a new milestone of $755 billion and the continued U.S. expansion of the energy workforce for the sixth straight year.
Many of these energy customers have ambitious clean energy targets in countries around the world. By working with governments and policy makers through CEDI, energy customers can signal their demand for clean energy in these countries and collaborate to design policies and environments that cultivate corporate investment in clean energy. Such engagement helps ensure that country policies encourage corporate investment in support of shared clean energy deployment goals.
The U.S. Department of State Bureau of Energy Resources and the Clean Energy Buyers Alliance will co-lead the Secretariat for the Clean Energy Demand Initiative to support clean energy procurement around the world. The Secretariat will:
- Expand the Clean Energy Demand Initiative to include additional governments and corporations dedicated to taking action on the clean energy transition
- Advance clean energy policies and investments through public-private discourse and collaboration
- Catalogue and distribute clean energy policy, project, and investment best practices
- Engage and coordinate with the broader energy and climate NGO community to maximize impact by optimizing existing tools and solutions
To learn more or to get involved as a corporate energy customer or international government, visit the Clean Energy Demand Initiative website: www.cedisecretariat.org
The Clean Energy Buyers Alliance is a consortium of two organizations, the Clean Energy Buyers Association (CEBA) and the Clean Energy Buyers Institute (CEBI), whose missions and methods are complementary. As a business trade association, CEBA activates a community of 340+ energy customers and partners to deploy market and policy solutions for a carbon-free energy system. Complementing CEBA as a public-good nonprofit, CEBI solves the toughest market and policy barriers to achieve a carbon-free energy system.
The U.S. Department of State’s Bureau of Energy Resources (ENR) leads the Department’s efforts to develop and execute international energy policy through diplomatic and programmatic engagement that promote a low-emissions future, energy security for the United States and our allies and partners, and economic prosperity through sustainable, affordable, and reliable energy access.