Giving Compass' Take:

· Writing for GreenBiz, Sarah Golden addresses the impact the COVID-19 pandemic will have on achieving corporate energy goals.

· How does the economy impact achieving these goals? What factors will be delayed in these goals? 

· Check out this article about COVID-19 and its impact on climate efforts.

Corporations have been driving the uptake of renewables across the United States for years. Hundreds of companies have made voluntary commitments to transition to 100 percent clean energy, and companies of all sizes have spearheaded renewable procurement deals, adding clean energy capacity to the grid.

That’s all well and good in a bull market. The COVID-19 crisis is infecting every corner of the economy, with massive impacts on energy markets.

Will this upheaval slow corporate clean energy goals?

While companies tout their commitment to climate change publicly, in reality, they’re able to make clean energy commitments because of economics.

"Remember, it was never the case that CFOs were looking to pay a premium for decarbonization," explained Jigar Shah, co-founder of Generate Capital and advisor of VERGE Energy, in a phone conversation last week. "Most CEOs that made announcements around climate change did it only in areas where it saved them money. Even with tighter budgets, it still saves them money."

In February, General Motors accelerated its renewable energy goal by a decade, according to Rob Threlkeld, global manager of sustainable energy, supply and reliability. The company plans to transition to 100 percent renewable energy across global operations by 2040, ahead of its previous commitment of 2050. Threlkeld doesn’t anticipate the economic fallout from COVID-19 will change that.

Read the full article about renewable energy in the age of COVID-19 by Sarah Golden at GreenBiz.