Amazon bought more renewable power last year than any other company

Amazon bought renewable energy at a rapid clip last year, adding nearly 100 new projects and growing its portfolio to 33 gigawatts of generating capacity. This is 10 gigawatts more than its nearest competitor, apple.

The additions make Amazon the largest corporate purchaser of renewable energy, according to BloombergNEF. The company’s total portfolio is roughly evenly split between utility-scale wind and solar farms and on-site solar power projects. In total, that’s enough to power 8.3 million homes, Amazon said.

Amazon’s renewables and storage contracts have allowed it to reduce emissions from purchased electricity, so-called Scope 2 emissions, even as it ramps up its Information center.

Still, the company has a long way to go to eliminate its carbon footprint. Like many companies, the bulk of Amazon’s emissions come from Scope 3, which covers activities over which it has less control. This includes expenses like air travel, leased buildings and building construction.

According to Amazon 2023 Sustainability ReportTotal emissions peak in 2021 after years of sharp growth. Its carbon intensity – a measure of greenhouse gas emissions divided by total sales – has also decreased. (Carbon intensity is a metric favored by fast-growing companies, since they tend to consume more fossil fuels as they grow. If they invest in zero-carbon energy, carbon intensity tends to rise or fall more slowly than overall emissions, Which tells a more positive story.)

Amazon has yet to release its 2024 sustainability report, which would give a more complete picture of the company’s progress toward its 2040 net zero goal.