Regulatory support and the falling costs of solar and wind technologies have led to an increasing growth in the use of renewable energy. Companies and individuals are switching to green power sources such as solar, wind and hydro, to contribute to the energy transition. However, the procurement of clean energy isn't enough, the energy transition must happen faster to keep up with the current climate goals. According to a recent IEA’s report, “annual renewable energy use must increase at an average rate of about 13% during 2023-2030, twice as much as the average over the past 5 years.”
On top of that, there is a considerable disparity between the rate at which the energy transition is happening in developed countries such as Europe and the U.S., and in the Emerging Markets and Developing Economies (EMDEs). As mentioned by the World Economic Forum, “only one-fifth of global clean energy investments is taking place in EMDEs.” Countries in LATAM and Africa are left behind, lacking access to energy solutions, or the investment funds needed to support these.
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While Scope 2 emissions reduction through green energy procurement is essential, it alone doesn't actively accelerate the energy transition, at least not at the rate needed to support the goals set by the Paris Agreement. To truly drive change, companies and individuals must think beyond their own consumption and contribute to solutions that scale the adoption of renewables globally. This is where every action matters.
Businesses that lead in sustainability do more than merely purchase renewable energy; they define its future. They are not only a part of the change, but also actively influence how it occurs.
There are numerous organizations and initiatives through which you can contribute to a faster and more equitable transition. A great example is EKOenergy, a nonprofit ecolabel for renewable energy that functions as a tool to enable consumers to add an extra layer of impact to their energy purchases. When companies choose EKOenergy-labeled renewables, a small premium of 18 cents per megawatt-hour (MWh) goes towards funding measures and actions that create additional impact.
Let’s break it down. Of these 18 cents, 8 cents go to EKOenergy’s nonprofit activities. These include the promotion of renewable energy on a global level through direct outreach, via campaigns, and by joining forces with other like-minded organizations. With materials available in over 20 languages, the message gets spread across diverse regions and communities.
The other 10 cents are allocated to EKOenergy’s Climate Fund. These contributions are entirely directed toward effective renewable energy projects in developing countries. Examples include the installation of solar panels for schools and hospitals in off-grid villages, solar-powered water pumps and water purification, and microgrids. Each project demonstrates how the use of renewable energy has a positive impact on the achievement of a combination of Sustainable Development Goals (SDGs): from No poverty (SDG 1) and Zero hunger (SDG 2) over Good health and well-being (SDG 3) to Clean water and sanitation (SDG 6).
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Over the past 10 years, EKOenergy’s Climate Fund has financed 125 projects totaling 8.2 million euros, with more grants of about 2 million euros in total already in preparation.
The projects are not directly managed by EKOenergy. However, they have a due diligence process in place to carefully select impactful renewable energy projects organised by specialised nonprofit organisations. All funded projects fulfil strict quality criteria and regularly report on the implemented activities.
An important note is that the 18 cents per MWh is just a proposed contribution. Clients that want to increase their impact can easily do so by increasing their contributions. The additionality EKOenergy delivers is proportional to the contributions made. Consumers choosing EKOenergy can report about the funded projects, for example, in their sustainability communication.
EKOenergy is a trusted and recognized ecolabel for businesses committed to sustainability. It aligns with key international reporting frameworks. CDP, RE100, and a number of UN sustainability initiatives have all endorsed it as a best practice in renewable energy procurement.
The leading framework for reporting electricity-related emissions under the GHG Protocol, Scope 2 Guidance, specifically acknowledges EKOenergy as a way to strengthen environmental claims. By choosing EKOenergy-labelled electricity, businesses can ensure their renewable energy purchases meet the highest transparency and impact
standards.
Beyond compliance, EKOenergy offers a credible and verifiable way to showcase your environmental leadership, reinforcing corporate sustainability commitments with measurable impact.
Transitioning to renewable energy is a crucial initial step, but opting for EKOenergy ensures that your dedication to sustainability produces tangible, additional benefits. Whether you're a company aiming for net-zero emissions or an individual trying to make a difference, utilizing EKOenergy-labeled electricity is a simple yet effective way to create real change.
At OTC Flow, we are proud to be an authorized seller of EKOenergy-labelled renewable energy, ensuring that our clients can procure green electricity with this additional certification. By choosing EKOenergy through OTC Flow, you are not only reducing your carbon footprint but also actively supporting the expansion of renewable energy in regions that need it most.
Every action matters. Are you ready to be part of the change?
Contact us today to learn more about how EKOenergy can be integrated into your sustainability strategy.