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Arcadia Partners with Goldman Sachs to Offer Clean Energy to Homes as an Employee Benefit

The Collaboration Offers Opportunity to Goldman Sachs Employees to Decarbonize and Align Choices to Individual Values

Arcadia, a monthly subscription service that connects renters and homeowners across the U.S. to clean energy through their existing utility, announced a new partnership with Goldman Sachs that will offer all of the firm’s U.S.-based employees access to 100% clean energy in their homes. Arcadia’s nationwide platform makes it possible for any U.S. employee to participate no matter their location.

For workplaces, millions of American employees are using more electricity at home rather than in the office. As home energy consumption increases, Arcadia is working with businesses like Goldman Sachs to get their employees easy access to clean energy to reduce their environmental impact.

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Arcadia residential energy data shows an average 2% increase in energy usage and a 6% bill increase for households in 2020, with home electricity use becoming an individual’s greatest contributor to climate change due to lessened travel during the pandemic.

“It’s never been a more important time to prioritize a renewable energy future and take action on climate change,” said Kiran Bhatraju, CEO and Founder of Arcadia. “Companies are paying more attention to their corporate sustainability goals, and in making climate-conscious decisions Goldman Sachs demonstrates how businesses  can leverage Arcadia’s platform to do good for their employees and the planet.”

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Dina Powell McCormick, Global Head of Sustainability and Inclusive Growth, Goldman Sachs, said, “Our firm has been carbon neutral since 2015, but with COVID and our teams working from home, we realized we needed to do more to help our employees improve their own carbon footprints and Arcadia has been a great solution.”

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About Arcadia clean energy benefits

  • Arcadia connects workplaces in any state with 100% clean energy for their employee’s homes, and companies can choose to subsidize monthly bills for their team through the platform.
  • If employees live in any one of these states they can also sign up for community solar: MA, RI, NY, IL, CO, MD, and ME. This lets them route a portion of their energy bill to support a local solar farm, so they’re not just connecting their home to clean energy, they’re also adding more clean energy to their local grid.
  • Employees have access to their own Arcadia account for their home, which takes 3 minutes to set up, streamlines utility bill payments and comes with impact tracking and a monthly impact reporting.
  • Businesses have access to sustainability reports that can be used to manage their scope 3 emissions reporting.

Scope 3 emissions, also referred to as “value chain emissions” are activities that represent the largest source of greenhouse gas emissions beyond the control of a company, normally including transportation and travel. With employees working from home and traveling less than ever, all companies interested in managing their carbon emissions should be exploring strategies to reduce emissions from home energy use.

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