New Green Energy Trends report by AI thinktank Permutable confirms growth in support for renewables and clean energy
London – As the green energy revolution continues to gain momentum, changing the way we look at energy and its usage across the world driven by the increasingly urgent need to take climate action, award-winning UK tech start up Permutable AI has released a report analysing support for renewables and clean energy, globally and across industries. The value of the report is that it shows what is being said about different industries and companies, helping companies decide both their energy strategies and how they are presented to the world.
The report shows that:
– The Electric industry ranks highest in terms of the number of companies involved and focuses mainly on solar energy
– Energy-Alternate Sources, Banks, Oil & Gas, and Auto Manufacturers come next as green energy leaders.
– The Electric industry leads in geothermal energy, closely followed by Oil & Gas, which leads the way in bioenergy.
– Interest in solar energy is 10 – 20 more times prevalent than geo-thermal and bio energy combined in most developed countries
– Tesla takes the lead in championing solar energy commitments, alongside BP, Huawei, TATA and Shell
Key findings from the report
– Green Energy is a prevalent topic of conversation worldwide. However, when framed in the context of environmental issues, companies across the board are more focused on reducing emissions rather than on transitioning to green energy. However, green energy is the real key to reducing emissions and should be the real focus to meet NetZero goals.
– Solar Energy is the most cited green energy solution. Looking at the past 12 months in green energy, it’s clear that industries are relying on solar energy as the main catalyst for the energy transition. In terms of industries leading the conversation, is no surprise that electrical companies are first, followed by Energy Alternate sources, and Oil & Gas companies. What is surprising is the banking industry is notably accelerating its commitment towards renewable energies and actively promoting the sustainable use of energy.
– Tesla leads the conversations on solar energy among larger companies. Unsurprisingly, most companies within the Energy-Alternate Sources sector are very specific about the alternative energies they will use. The Oil & Gas industry, for example BP and Shell, are reported as focusing heavily on the specific technologies they intend to use to reduce emissions. However, the Banking industry falls behind in this respect.
How the Green Energy Trends report was put together
Since late 2019, Permutable AI has been using its proprietary machine learning technology to extract news worldwide concerning companies in its database. This news is selected based on the ESG and UN SDG taxonomy – so we can assess the involvement of specific companies in these issues across the globe. For this report, Permutable’s AI analysed 138,000 extracts, 8,200 articles, 2,100 news outlets.
Permutable also uses its proprietary AI tool, which uses natural language processing (NLP) to check if an article is indeed talking about a specific company and its actions in a specific ESG sector. Permutable also uses AI-based sentiment analysis to determine whether the relevant sentences from an article portray the company in a positive, neutral, or negative light withrespect to its corporate responsibilities.
Wilson Chan, Permutable Founder & CEO said: “At Permutable, we see the power of public sentiment as a way to bring about company change. Simply acknowledging shifts in public sentiment can be a powerful catalyst for change, and one that is urgently needed if we are to meet climate change targets in time. In this report we see that green energy sits second place only to emissions in terms of topic matter, which shows we are moving focus in the right direction – so rather than scrubbing off emissions, focusing on replacement with renewable alternatives.
The report provides an overview of industry renewable activity divided into solar, bio-energy and geo-thermal components which we hope will help provide greater transparency in these areas, and help companies and governments determine their energy strategies.”
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Economy Jack journalist was involved in the writing and production of this article.