Akamai Commits to Significant Renewable Energy Goals
MAY 12, 2016: Trillium Asset Management is pleased to announce that it has successfully withdrawn its renewable energy shareholder proposal at Akamai Technologies (Nasdaq: AKAM) following a commitment from the company to set quantitative renewable energy goals.
Akamai has announced it will source renewable energy for 50% of its network operations by 2020.
By setting this goal, Akamai is demonstrating its proactive approach to reducing exposure to volatile energy prices, enhancing U.S. energy security, and meeting the global need for cleaner energy. Renewable energy is a critical tool in managing and reducing a company’s emissions and will help Akamai meet its ongoing greenhouse gas reduction goals.
“Trillium’s request was timely,” said Nicola Peill-Moelter, Director of Environmental Sustainability. “Akamai had been working on a renewables strategy that fit with our distributed operations model. To date we’ve been very successful in decoupling our business growth from energy and carbon impacts through efficiency and productivity gains. Setting a renewable energy target to decarbonize our energy use is an important and logical extension of Akamai’s commitment to sustainable business operations. The world is going clean and green and we want to help it go faster forward with a clean, low-carbon-powered, global delivery network.”
Now more than ever, companies have the opportunity to diversify their energy sources and reduce costs by producing or sourcing their energy needs from renewable sources.
Among the largest Fortune 100 companies, 60 percent have goals boosting renewable energy sourcing and reducing carbon emissions and are saving a combined $1.1 billion in energy costs annually through their efforts.
By making a commitment to increase their percentage of power that is produced by renewable energy sources, companies are able to reduce their greenhouse gas emissions, likely reduce energy costs, and position their companies to be successful in a low carbon economy.
“We commend Akamai for engaging in a productive dialogue and for recognizing the critical role renewable energy plays in a carbon reduction strategy,” said Brianna Murphy of Trillium Asset Management.
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For more information: Brianna Murphy, Trillium Asset Management, bmurphy@trilliuminvest.com, (617) 532-6662.
Important disclosure: The information provided in this material should not be considered a recommendation to buy or sell the security mentioned. It should not be assumed that investments in such security has been or will be profitable. To the extent a specific security is mentioned, it was selected by the authors on an objective basis to illustrate views expressed in the commentary and it does not represent all of the securities purchased, sold or recommended for advisory clients. The information contained herein has been prepared from sources believed reliable but is not guaranteed as to its
