Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Wind turbines in Colorado City, Texas. Photo: Spencer Platt/Getty Images

U.S. businesses have started to accelerate reductions in their carbon footprints — a major change from just a few years ago, when only early adopters had drafted sustainability goals. Today, thousands of companies are seeking carbon-free energy sources, with more than 150 firms pledging to transition to 100% renewable energy.

The big picture: Renewable energy certificates (RECs) — which track renewable energy from the point of generation — have been crucial in driving this shift. Increasingly, electricity suppliers are offering ways for businesses to get their power from specific projects or sources, bringing transparency to renewable energy use.

How it works: Led by Apple and Google, big corporations have moved beyond REC procurements to virtual power purchase agreements (VPPAs), which support the development of large-scale, off-site renewable energy projects.

  • For all their positives, VPPAs are complicated financial transactions and their price volatility poses risks. (Companies pay an agreed-upon fixed price, but depending on the actual cost of energy over time, could end up paying more than market price.)

What's new: Electricity suppliers are now letting companies choose offsite renewable power sources and combine energy purchases with RECs, broadening the market.

  • Companies are able to procure more renewable energy at a lower cost, expanding the amount of renewable supply on the grid. They can oversee their green energy options the same way they’ve managed their standard electric supply.

Broadening sustainability efforts to include all zero-carbon sources, such as nuclear energy, is another way companies are meeting their environmental goals when space or capital are unavailable for on-site renewables.

  • New emission-free energy certificates are like RECs but for non-renewable sources that do not emit greenhouse gases.

The bottom line: Electricity suppliers are responding to growing customer demand for clean energy by offering simpler products that let businesses source power from specific offsite renewable projects and other zero-carbon sources.

Jim McHugh is the CEO of Constellation, an Exelon company.

Go deeper

Caitlin Owens, author of Vitals
18 mins ago - Health

Where seniors remain vulnerable to the coronavirus

Expand chart
Data: CDC and Simon Willison; Note: The last reliable figure reported for New Hampshire was 83.9% on April 6, 2021; Chart: Danielle Alberti/Axios

More than 80% of Americans 65 and older have received at least one dose of a coronavirus vaccine, per the CDC, but millions across the country remain unvaccinated — particularly in the South.

Why it matters: Seniors who have yet to receive their shot remain highly vulnerable to the virus even as the country overall becomes safer.

Axios-Ipsos poll: Americans say J&J pause was the right call

Data: Axios/Ipsos Poll; Note: 3.3% margin of error; Chart: Andrew Witherspoon/Axios

Most Americans support the pause in distribution of the Johnson & Johnson COVID-19 vaccine, and so far there's no evidence that it's leading to broader vaccine hesitancy, according to the latest installment of the Axios/Ipsos Coronavirus Index.

Driving the news: In our weekly national survey, 91% of respondents were aware of the temporary pause recommended by the Food and Drug Administration and the Centers for Disease for Control and Prevention. Of those, 88% said the pause was a responsible decision.

2 hours ago - World

China's Xi swipes at U.S.: "Countries shouldn't impose rules on others"

China's President Xi Jinping during a video summit in Beijing on Friday. Photo: Li Xueren/Xinhua via Getty Images

China's President Xi Jinping on Tuesday warned against "bossing others around or meddling in others' internal affairs" and called for "more fair and equitable" global governance.

Why it matters: Xi's thinly veiled swipes at the U.S. during an online speech at an economic forum come at a time of heightened tensions between Beijing and Washington over trade, human rights and China's strategic and economic ambitions.