Smart Energy Voices- Episode 78

Meeting Renewable Energy Goals: A Portfolio View with Quen Howard

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VF Corporation’s sustainability goals

VF Corporation is one of the largest footwear apparel companies in the world, representing twelve brands that empower individuals in their lifestyles and activities. VF has bold and ambitious renewable energy goals supported by science-based targets. Its goal is to utilize 100% renewable energy by 2026, and currently, the corporation is 34% towards achieving that target. VF also aims to reduce Scope 1 and Scope 2 by 55% and reduce Scope 3 by 30% by 2030.

Creating a team throughout the company

Renewable energy goals benefit from a robust, cross-functional team. Members of the procurement team need to be involved, as well as legal, sustainability, tax, and finance. Quen recommends meeting early and often within a project phase. By having that robust team involved at the start, once the project starts to come through, the team can pivot quickly if a project no longer makes sense. Renewable projects can be complex, so having the right individual at the table with deep expertise helps streamline the process.

Different functions in a company speak different languages, and each has its own priorities. Having regular meetings as a project is developed gives the ability to deal with issues that arise from those various perspectives early, ultimately preventing anything from stumbling the team when the time comes to execute an agreement.

Choosing the right suppliers

Partnering with the right supplier makes a world of difference. The right supplier will want to provide educational guidance before the team approaches the executive leadership. Unique challenges will arise, and having the supplier’s expertise will mitigate those challenges and help identify opportunities. That involvement allows the team to move more quickly and capitalize on those opportunities. 

When choosing a supplier, Quen looks for a robust and deep knowledge of the utility and energy market and a proven track record of delivering renewable projects. Strong customer service is also a sign of a good supplier. The supplier must have the bandwidth and footprint to work with a multinational company and have robust reporting and analytics capabilities.