We’ve all heard enough of the doom and gloom, and are likely stressed out by the never-ending news feed of uncertainty, but there’s still plenty of good news out there!
Continued Commitments to Sustainability
Despite rollbacks in required ESG standards, green hushing, and the erasure of DEI terminology, most companies plan to stay committed to their goals. Climate risk and sustainability are top of mind for most CEO and C-Suite leaders according to one Harvard study.
According to a recent study from Workiva, “85% of executives that were intending to disclose greenhouse gas emissions will move forward with disclosures irrespective of any political developments within their country. …97% of executives agree that a strong sustainability reporting program will give businesses a competitive advantage in the next two years.
Along those lines, Norwich technologies plans to release our first Impact Report soon and will begin the B Corp Recertification process this year.
Many companies are shifting language around DEI but remain committed to building an inclusive workplace according to Forbes.
Norwich Technologies remains committed to fostering a diverse, equitable and inclusive workplace. We understand the value that a wide range of people bring to our business because of their differences in more than race - that includes age, gender, sexual orientation, education, experience and all of the attributes that make us unique individuals. Belonging might be the most important word that is often left out of that acronym, but one that we as a company embrace.
States continue to pursue clean energy goals. Vermont is one of 13 states that passed legislation requiring utilities to source 100% of electricity from renewable sources.
News such as this from One Earth create hope for the future:
“Across the United States, cities and states are proving that ambitious climate action is not only possible but also practical and beneficial. By transitioning to renewable energy, protecting nature, and promoting regenerative agriculture, local governments are leading the way in creating a more sustainable and resilient future.”
Renewable Energy Sector Continues to Grow
According to SEIA, Renewables accounted for 84% of all new energy generation sources in 2024
“Last year’s record-level of installations was aided by several solar policies and credits within the Inflation Reduction Act that helped drive interest in the solar market,” said Sylvia Levya Martinez, Principal Analyst, North America Utility-Scale Solar for Wood Mackenzie. “We still have many challenges ahead, including unprecedented load growth on the power grid. If many of these policies were eliminated or significantly altered, it would be very detrimental to the industry’s continued growth.”
Tax incentives generally have bipartisan support. The IRA 10% adder for Domestic Content spurred new manufacturing facilities in the US. Many benefit predominantly Republican-leaning states, so we are hopeful that will remain in place. According to SEIA, as of March 11, 21 Republicans signed a letter of support to preserve the current energy tax credits.
Also according to SEIA domestic solar manufacturing capacity has reached 5 GW, and at full capacity, these factories can produce enough to meet all demand for solar in the United States!