Action to install clean and renewable energy moves faster when the whole business chain of planning, financing and procurement is aligned to the best interests of both buyers and sellers. This is why 12 of the largest US corporations have got together to map out six shifts in market practices that they see as essential to step up their purchases of renewable energy and achieve their sustainable energy goals.

The Corporate Renewable Energy Buyers' Principles frame the six challenges and common needs faced by large renewable energy buyers. These are:

• Greater choice in procurement options
• More access to cost competitive options
• Longer and variable-term contracts
• Access to new projects that reduce emissions beyond business as usual
• Streamlined third-party financing
• Increased purchasing options with utilities

This can also help to provide clearer parameters for governments and legislators at national and international level to construct policies, incentives and regulations to further speed up the global transformation to efficient and renewable energy.

Sixty percent of the largest US businesses have already set public climate and energy goals to increase their use of renewable energy. Companies are setting these goals because reducing energy use and using renewable energy have become core elements of their business and sustainability strategies.

The 12 corporate signatories are Bloomberg, Facebook, General Motors, Hewlett-Packard, Intel, Johnson & Johnson, Mars, Novelis, Procter and Gamble, Recreational Equipment Inc., Sprint, and Walmart. Together they represent a combined renewable energy target of 8.4 million megawatt hours (MWh) per year through 2020. The group wants these buyers' principles to open up new opportunities for collaboration with utilities and energy suppliers to increase their ability to buy renewable energy. Large-scale buyers often have to work around traditional utilities to purchase renewables at competitive prices at a scale they need, increasing complexity and transaction costs.

Further insight and comments on the initiative can be seen at the World Wildlife Fund (WWF) and the World Resources Institute (WRI) which both recognized the need for clearer guidelines and convened leading companies to create the Buyers’ Principles.