Businesses falling behind in race to renewables

LESS than half of Australian major companies are actively procuring renewable energy, according to an Australian Renewable Energy Agency (ARENA) report.

The ‘first-of-its-kind’ study surveyed 90 of the country’s largest public and private companies to look at how they were embracing renewable energy and what was holding companies back.

Of the 46 per cent actively utilising clean energy technologies, renewable energy accounted for only 10 per cent or less of their energy use.

ARENA said Australian companies appeared to be “falling behind their global peers”, and missing out on the benefits such as cost savings, reaching sustainability targets, and meeting consumer expectations.