Cresco provided insight into the financial implications of Net Zero, with a special focus on the need to develop green materials and green products in line with increasing global trends and requirements regarding scope 3 emissions, consumer preferences, carbon tax, and competitiveness implications. Cresco provided further insight into the latest trends and opportunities for manufacturing clients to pursue whereby they could affordably consider renewables, energy efficiency and backup power to enable the greening of their operations to comply with upcoming market requirements.

Cresco believes that the next round of Renewable energy procurements will include Manufacturing Circle Members with over 1 000MW of potential demand considering renewable energy interventions. Due to the smaller individual load sizing and possible municipal site locations, the procurement will be different to the EIUG type processes seen during 2021/early 2022. As Manufacturing Circle members typically have a higher cost of energy than Megaflex type users – BESS/hybrid type interventions appear commercially viable.