Alphabet’s Green Milestone
Alphabet’s goal of achieving zero-carbon emissions is drawing closer as its subsidiary Google teams up with NV Energy to power its Nevada data centers with geothermal electricity. This ambitious partnership aims to scale up carbon-free geothermal electricity from 3.5 to 115 megawatts in the local power grid over the next six years. The deal, facilitated by NV Energy’s purchase agreement with Fervo Energy, is still pending approval from state utility regulators.
Embracing Zero-Carbon Future
Alphabet Inc. continues to make strides in its journey towards a zero-carbon future. Being carbon-neutral since 2007, Google is resolute in achieving net-zero emissions across its operations and value chain by 2030. The company aims to slash 50% of its total emissions, invest in various carbon removal solutions, and rely significantly on wind, solar, and now geothermal energy, a sustainable source of electricity that sets it apart from traditional renewables dependent on weather conditions.
Industry-Wide Push for Sustainability
The tech industry’s focus on sustainability is evident as companies like Amazon, Microsoft, and Lam Research join Alphabet in reducing carbon footprints and transitioning to renewable energy sources. Amazon, known for being a prime backer of renewable energy, is on track to power its infrastructure with 100% clean energy by 2025, ahead of its original goal of 2030. Microsoft is committed to achieving carbon negativity by 2030 and eliminating greenhouse gas emissions entirely by 2050. Lam Research, on the other hand, targets carbon net-zero emissions by 2050 and full reliance on renewable energy by 2030.
Closing Thoughts
In today’s landscape, environmental consciousness plays a pivotal role in business sustainability. Investors now consider not only profitability but also a company’s commitment to a greener future. Alphabet’s forward-thinking approach, marked by its Zacks Rank #1 (Strong Buy), positions it favorably among investors. With a year-to-date gain of 25.6%, outshining the Zacks Computer & Technology sector’s 10.2% return, Alphabet’s efforts to curb carbon emissions are not only ecological but also financially rewarding.