Deloitte explores how energy companies can form renewable goals for right now

Carbon-neutral is the goal, but what can be done right now? Photo by Wuttisack Promchoo/Getty

The global energy mix is shifting from fossil fuels to renewables. There are abundant examples of both public and private organizations working hard to decarbonize the economy.

As this energy transformation or "Green Deal" gains momentum, new ecosystems are forming and new technologies are emerging. These developments are helping to grow renewables, develop new energy carriers, improve energy efficiency, reduce emissions, and create new markets for carbon and other by-products as part of an increasingly circular economy.

At the same time, many of these commonly pursued steps to decarbonization — such as increased electrification, wide-scale use of renewable energy, and intensifying energy efficiency measures — pose unique challenges.

Many participants in the energy and resources (E&R) industry have publicly declared their intention to become carbon neutral by 2050. While their long-term vision is clear, the more perplexing challenge for E&R companies lies in the immediate future.

Many companies are struggling to understand the material impacts that their stated goals are going to have on their valuations, operations, employees, and markets over the next few years.

Continue reading this article on Deloitte's website to learn how companies in certain sectors of the E&R industry — chemicals, oil and gas, mining and metals, and power, utilities, and renewables — can accelerate decarbonization over the next decade and achieve meaningful interim targets by 2030.

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Building Houston

 
 

Keep your eyes out for a new solar farm that will be constructed in Sunnyside in south Houston. Photo via Getty Images

Mayor Sylvester Turner and the city council have given the green light on a project that will convert a 240-acre former landfill in Sunnyside into a brownfield solar installation.

The public-private partnership with Sunnyside Energy LLC. received unanimous approval on a lease agreement that will move the project — which is a part of the City's Climate Action Plan and Complete Communities Initiative — forward.

"The Sunnyside landfill has been one of Houston's biggest community challenges for decades, and I am proud we are one step closer to its transformation," says Mayor Turner in a news release. "I thank the Sunnyside community because this project would not have come together without its support. This project is an example of how cities can work with the community to address long-standing environmental justice concerns holistically, create green jobs and generate renewable energy in the process."

The solar field, which is anticipated to be installed and working by the end of next year, will be able to power 5,000 homes and offset 120 million pounds of CO2 each year, according to the release.

"We applaud the actions of Mayor Turner and the City Council in taking this significant step," says Dori Wolfe, managing director of Sunnyside Energy LLC, in the release. "It is a strong vote of confidence for this impactful project. All members of the project team realize that this Sunnyside Solar facility will be an iconic statement in the rejuvenation of the community. We are grateful that Mayor Turner has given us his support."

The city's involvement with the company began in 2017 when Houston joined the C40 Reinventing Cities Competition – a global competition to promote sustainable energy projects. As a part of the competition and through the city's efforts on the initiative, powers at be selected the winning proposal from Wolfe Energy LLC, which formed Sunnyside Energy LLC to execute the urban solar farm project.

Per the lease agreement, the city of Houston owns the land and Sunnyside Energy will be the tenant responsible for permitting, construction, operation, and more.

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