Partnership Between Schneider Electric and Engie Drives Sustainability

Help keep One Green Planet free and independent! Together we can ensure our platform remains a hub for empowering ideas committed to fighting for a sustainable, healthy, and compassionate world. Please support us in keeping our mission strong.


A partnership between the French energy management company Schneider Electric and utility firm Engie is showing the positive environmental impacts of tax incentives found in the U.S. Inflation Reduction Act. This partnership could provide a positive model, incentivizing CFOs and finance departments from large firms to further renewable energy.

The Inflation Reduction Act allows companies that are developing clean energy projects to sell the tax incentives from these projects to other companies. The companies that buy the tax credits may be larger, and therefore better equipped to benefit from these incentives. Additionally, money from these federal incentives can be reallocated towards other clean energy projects. Provisions from the Inflation Reduction Act helped to clarify this process, making it easier and more advantageous for a larger group. The partnership between Schneider Electric and Engie is one of the first to take large-scale advantage of this new system. 

Engie is building four large-scale renewable energy products in Texas. However, they will sell the tax credits that they are entitled to as a result of these products to Schneider Electric. Using the savings from these tax credits, Schneider Electric will then buy more renewable energy credits. This will help to increase the amount of renewable energy that is being utilized on the grid. 

This partnership helps create a blueprint as to how companies can make sustainability profitable. Schneider Electric hopes that its partnership with Engie will act as a case study. They then will be able to assist other companies with carrying out similar deals. 

Schneider Electric has committed to achieving net zero emissions across its operations by 2030. Projects such as their partnership with Engie help to further their goals of decarbonization. 

Sign this petition to Advocate for Renewable Energy!

Tiny Rescue Climate Collection
Tiny Rescue Climate Collection

There’s Only One Green Planet Tee by Tiny Rescue: Climate Collection

Related Content: 

Easy Ways to Help the Planet:

  • Eat Less Meat: Download Food Monster, the largest plant-based Recipe app on the App Store, to help reduce your environmental footprint, save animals and get healthy. You can also buy a hard or soft copy of our favorite vegan cookbooks.
  • Reduce Your Fast Fashion Footprint: Take initiative by standing up against fast fashion Pollution and supporting sustainable and circular brands like Tiny Rescue that raise awareness around important issues through recycled zero-waste clothing designed to be returned and remade over and over again.
  • Support Independent Media: Being publicly funded gives us a greater chance to continue providing you with high-quality content. Please consider supporting us by donating!
  • Sign a Petition: Your voice matters! Help turn petitions into victories by signing the latest list of must-sign petitions to help people, animals, and the planet.
  • Stay Informed: Keep up with the latest news and important stories involving animals, the environment, sustainable living, food, health, and human interest topics by subscribing to our newsletter!
  • Do What You Can: Reduce waste, plant trees, eat local, travel responsibly, reuse stuff, say no to single-use plastics, recycle, vote smart, switch to cold water laundry, divest from fossil fuels, save water, shop wisely, Donate if you can, grow your food, volunteer, conserve energy, compost, and don’t forget about the microplastics and microbeads lurking in common household and personal care products!

spot_img

More from this stream

Recomended

“Pendle (PENDLE) Experiences 90% TVL Increase on Nexo Exchange”

Nexo, a leading regulated digital assets institution, has announced the listing of Pendle’s native token, PENDLE, on its platform. This strategic move comes as Pendle experiences a remarkable surge...

New 3,055 TEU containerships named by Wan Hai

Wan Hai Lines Ltd. has hosted ship naming ceremonies for Wan Hai 372 and Wan Hai 376 with a charity-giving ceremony at Japan Marine United Corporation’s ARIAKE Shipyard. Wan Hai 372 and Wan Hai 376...

‘New Update for ChatGPT GPT-4 Generating Excitement among Users’

OpenAI has recently made ChatGPT available to users without requiring an account. It’s a big upgrade, making the chatbot even more accessible. However, I explained that...

‘New Investment Cycle of Tekedia Capital Sparks the Start of the March to Unicorns on Monday’

The next edition of Tekedia Capital Syndicate investment cycle begins...

‘Pectra Hard Fork Introduces Social Recovery Feature to Enhance Security’

With the introduction of the innovative social recovery feature, Ethereum users can bid farewell to the anxiety associated with safeguarding their seed phrases. Spearheaded by Ethereum core developer...

‘New Director of Acquisitions and Estates appointed at Popeyes UK’

The appointment is part of the brand’s plans to expand its presence in the UK. Popeyes UK has appointed Peter Gibson as Director of Acquisitions and Estates, following the announcement of plans to...