Salesforce has today announced a suite of climate initiatives aimed at propelling innovation and facilitating a just energy transition. Recognizing the urgency to curb emissions and actively remove existing carbon dioxide from the atmosphere and oceans, Salesforce is positioning itself at the forefront of corporate climate action.
The International Energy Agency (IEA) projects a 20% increase in global electricity demand by 2030, driven largely by residential electrification, advancements in transportation, and the rise of artificial intelligence. This surge necessitates significant investments from both public and private sectors to scale clean energy technologies and meet the critical target of limiting global temperature rise to 1.5 degrees Celsius.
A key element of Salesforce's strategy is its $25 million commitment to the Frontier initiative, aimed at advancing carbon removal technologies by 2030. Frontier, established in 2022 by companies including Stripe, Alphabet, Shopify, Meta, and McKinsey, pledges $1 billion towards the purchase of permanent carbon removal solutions. This consortium leverages multi-year purchase commitments to drive the commercialization and scalability of the most promising technologies. Salesforce’s participation aligns with its First Movers Coalition (FMC) pledge to invest $100 million in carbon dioxide removal solutions. FMC seeks to harness corporate purchasing power to decarbonize challenging sectors.
Salesforce has furthered its commitment to renewable energy through a partnership with Qualitas Energy. This collaboration includes a 15-year virtual power purchase agreement (VPPA) to develop a 27-megawatt (MW) solar portfolio across six Italian regions. These solar projects, expected to be operational by 2024 and early 2025, will bolster Salesforce’s 100% renewable energy commitment. Additionally, Qualitas Energy will contribute approximately EUR 400,000 to a community fund supporting local projects and NGOs.
In support of equitable clean energy access, Salesforce has allocated $3.9 million in grants to nonprofits including RE-volv, Groundswell, GRID Alternatives, Planet Reimagined, Working Power, Honnold Foundation, and Evergreen Climate Innovations. These grants aim to make clean energy affordable, develop renewable energy on marginalized lands, and create green jobs. The unrestricted nature of these funds enables recipient organizations to expand their programs, innovate, and attract further funding.
During fiscal year 2024, Salesforce dedicated $10 million to climate justice grants, supporting 18 organizations globally. These funds have been instrumental in driving nature-based solutions, fostering equitable transitions to a clean energy economy, and supporting ecopreneurial efforts. The impact of these grants is substantial, contributing to the conservation and restoration of over 11,000 hectares of land and catalyzing an estimated $225 million in additional funding.
Salesforce’s commitment extends to immediate disaster relief efforts as well. In response to climate-related disasters, such as the Turkey-Syria earthquakes and Maui wildfires, Salesforce and its employees raised over $2 million to support humanitarian initiatives.
Salesforce also supports the Mangrove Breakthrough initiative in collaboration with Plant-for-the-Planet, investing in the restoration and conservation of mangrove ecosystems. These efforts have led to the restoration of over 8 million trees in fiscal year 2024, contributing to a cumulative total of 52 million trees.
Suzanne DiBianca, EVP and Chief Impact Officer of Salesforce, stated, “To tackle the climate crisis head on, companies must have a comprehensive climate transition plan. For us, this means investing in and scaling new climate technologies, securing clean energy access in underserved regions of the world, and aligning our corporate philanthropy strategy to ensure no one is left behind.”
These strategic investments and initiatives underscore Salesforce's commitment to advancing climate solutions and supporting a sustainable, equitable future.
