CLIMATE ACTION
Working towards a shared long-term climate vision pushes us forward, while short-term goals drive innovation and decarbonisation today. Focusing on additionality and proximity accelerates the energy transition.
Renewable energy is finding an increasingly larger foothold in the global energy market because of the need to move away from fossil fuels linked to global warming, and the fact that these energy sources are becoming more cost competitive. According to the International Energy Agency (IEA), renewables accounted for almost two-thirds of net new power capacity around the world in 2016. This growth is expected to continue, with the IEA forecasting that renewable electricity capacity will expand by 43% by 2022. We are committed to helping drive positive change and playing a leading role in the battle against climate change by purchasing energy way more sustainably.
Furthermore, climate change is a key SDG for the Government of the United Republic of Tanzania, which is combating climate change effects as an integral part of the United Republic of Tanzania’s environmental policy, as pointed out by the 2019 Voluntary National Review (VNR). The financing needed to address current climate risks, reduce future impacts, and build national resilience has been estimated by the National Climate Change Strategy (2012) to be USD 500 million per year, which could rise to USD 1 billion per year by 2030.