Switch to 100% Renewable Energy Puts The O₂ Centre Stage on Sustainability
Originally published on SmartestEnergy
Hosting over 200 events and 8 million visitors a year means minimising carbon footprint is an important focus for The O₂. John Marler, Senior Director, Energy and Environment at parent group AEG explains its industry-leading approach to sustainability.
Why is buying 100% renewable energy important for AEG?
At AEG, we are always looking for ways to reduce energy consumption at our venues around the world. We are one of the first live music and sports companies to adopt a science-based goal for reducing its greenhouse gas (GHG) emissions by 3.2% per year from 2010 to 2020. We have purchased 100% renewable energy to power O₂ since July 2013 and it’s already making a significant contribution to our greenhouse gas reduction targets.
What were the key drivers for adopting a science-based goal for GHG emissions?
We believe that aligning our efforts with the latest scientific consensus on climate change provides important context for our work to minimise the impact of our operations. The ambitious new target provides a robust framework for initiatives underway across the group.
Adopting this new goal helps to reinforce our position at the forefront of sustainability in the sports and entertainment industry and also helps demonstrate that we are trying to do our part to address this global challenge.
What are the benefits of sourcing 100% renewable electricity?
Buying 100% renewable energy is part of our wider energy strategy and it makes good business sense, as well as delivering CSR benefits.
Historically, fossil fuels have brought quite a lot of volatility to energy prices which is challenging from a budgeting perspective particularly given energy represents our second-highest operating cost. Buying green energy not only hedges our energy exposure but also reduces overall costs in the long term as the cost of renewable generation continues to come down.
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