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Google aims to achieve zero carbon footprint goal by 2030

AlphabetGoogle’s GOOGL division is making steady progress towards achieving its zero carbon goals by 2030.

According to reports, the company plans to run its offices and data centers entirely on carbon-free electricity by 2030. It aims to achieve this goal using only renewable energy.

The company plans to use batteries stored with solar power and geothermal reservoirs, among others, to achieve its goal.

Notably, 61% of Google’s global hourly electricity consumption was generated from solar, wind and other renewables in 2019.

Google has been focused on clean energy for some time. Switching to clean energy sources should reduce costs in the short term, which remains a major plus.

Google’s zero carbon campaign

Google, which has been carbon neutral since 2007, is making every effort to become a carbon-free company.

The search giant has made huge investments in wind power and has planted several trees. She also bought carbon credits.

Notably, the company’s current goals include proactively funding more tree-planting initiatives, bringing in five gigawatts of renewable energy, and building partnerships with approximately 500 governments around the world. with the aim of reducing one gigatonne of carbon emissions per year by 2030.

Alphabet Inc. Pricing and Consensus

Alphabet Inc. Pricing and Consensus

Alphabet Inc. Price Consensus Chart | Alphabet Inc. Quote

Carbon neutrality is gaining momentum

We believe Google’s latest move should give it a competitive edge in the ever-increasing race to carbon neutrality.

Apart from Google, tech giants like Amazon AMZN, Microsoft MSFT, and Apple AAPL are also taking initiatives to adopt alternative energy sources to reduce overall carbon emissions and drastically lower energy bills.

Amazon’s efforts in carbon neutrality remain remarkable. It constantly injects resources into renewable energy projects in an effort to fuel its carbon neutral campaign. Additionally, the company’s growing number of renewable energy projects around the world and improving efforts to expand its electric vehicle delivery fleet are major positives.

The company aims to use 80% and 100% renewable energy by 2024 and 2030, respectively. It also aims to achieve net zero carbon by 2040.

Additionally, Microsoft is gaining momentum to become carbon negative by 2030. Its two power purchase agreements with EDP Renewables North America LLC to work on a wind power project based in Paulding County, OH remain remarkable.

Meanwhile, Apple, which is already carbon neutral for its global corporate operations, recently pledged to become 100% carbon neutral across its entire business, manufacturing supply chain and cycle. life of products by 2030.

Nonetheless, Google’s aggressive three-pronged strategy, which includes energy efficiency, renewable energy sourcing, and carbon offsets, demonstrates its firm commitment to a zero carbon footprint. This will likely put it slightly ahead of the pack in the race to carbon neutrality.

Currently, Alphabet carries a Zacks Rank #3 (Hold). You can see the full list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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