Google have always put themselves at the front of the sustainability movement, setting out targets, such as reaching net zero by 2030. The company also pledged to use 100% carbon free energy to operate both its campuses and its carbon centres. Google’s renewable energy consumption shows that they have made progress towards this pledge, as it has been recorded that their purchasing of renewable energy has matched their annual energy use for the past five years.
The company also pledged to use 100% carbon free energy…
At the start of August (2022), Google announced that it had allocated their US$5.75 billion sustainability bond. The projects, in which the money has been allocated to, all meet the criteria for at least one of the eight eligibility strands. The strands are:
- Affordable housing
- Circular economy and design
- Clean energy
- Clean transportation
- Commitment to racial equity
- Energy efficiency
- Green buildings
- Support for small businesses and COVID-19 crisis response
Renewable energy is one of the highest priorities for Google and therefore a large amount of the bond has been put into the clean energy strand and around US$1 billion has been allocated to the energy efficiency strand. This money will not only be spent on renewable energy (US$1.75 billion), but also on developing their data centres in order to make their energy overhead six times lower. The company also have plans to develop an on-site generator to further lower their CO2e emissions.
In regards to their clean transportation strand, Google are making the sustainable move to electrifying their fleet. The company have allocated US$22 million of the bond to EV initiatives, such as the setting up of 4,000 new EV charging points across the US and Canada, with investments being made to increase this number.
Renewable energy is one of the highest priorities for Google…
Within their report, outlining where they have allocated their sustainability bond, Google states that: “Our Sustainability Bond helps us operate our business in an environmentally and socially responsible way. Our ultimate goal is to enable everyone — businesses, investors, policymakers, and individuals — to create and live in a more sustainable world. We continue to lead and encourage others to join us in improving the health of our communities and our planet.”