“Greenwashing is slowing down the energy transition”: ThinkEnergy urges a shift toward genuine solutions driving energy transition.
London, December 16, 2024 – As sustainability becomes a strategic priority for companies, it is alarming that 85% of global investors consider greenwashing a growing problem, according to EY’s 2024 Institutional Investor Survey. This phenomenon not only undermines the credibility of environmental initiatives but also diverts critical resources away from projects that can make a real difference in combating climate change.
Check out the EY’s 2024 Institutional Investor Survey: (HERE)
Gregory C. Smith, Executive Chairman of ThinkEnergy, stated: “Greenwashing not only erodes public trust but also impedes real progress toward a cleaner future. It is time for investors to demand transparency and redirect their resources toward innovative solutions that promote a responsible energy transition with measurable results in the short, medium, and long term”.
The article “Greenwashing: The Obstacle to Transitioning to a Cleaner World” highlights how poorly managed initiatives, such as mass reforestation efforts without adequate follow-up, not only fail to achieve their climate goals but also harm critical ecosystems. This phenomenon stands in contrast to innovative initiatives like those of ThinkEnergy, which, through its modular and scalable technology, ensures a Life Cycle Assessment that certifies CO₂e emissions reductions of up to 50%. Additionally, its model enables the installation of plants in just 60 days, providing effective and rapid solutions for emerging markets.
Check out the article Greenwashing: The Obstacle to Transitioning to a Cleaner World (HERE)
Despite the growing demand for sustainable investment products (with 74% of managers reporting increased demand, according to EY), the survey also points to a shift toward short-term concerns. This, combined with a lack of trust in corporate sustainability reports, makes financing genuine projects more challenging. According to the World Investment Report 2023 by UNCTAD, developing countries require $1.7 trillion annually to meet their climate goals but received only $544 billion in 2022.
Check out the World Investment Report: (HERE)
“Greenwashing is delaying progress toward a cleaner model”, added Smith. “With solutions like ours, which guarantee a certified Life Cycle Assessment to ensure significant CO₂e emissions reductions and a model that offers scalability and speed, we can lead the change. However, we need decisive support from investors and regulators to maximize our impact and foster a responsible energy transition”.
ThinkEnergy calls on governments, consumers, and investors to demand greater transparency and prioritize projects backed by certifications. By tackling greenwashing and redirecting resources to genuine solutions, progress can be made toward a cleaner and more sustainable energy future.
