Commitment to 100% renewable energy
BY 2020, 100 of the world's largest companies will have committed to 100-per-cent renewable energy under a global campaign called RE100.
Launched last September, RE100 has already brought together BT Group, Commerzbank, Formula E, H&M, Ikea Group, KPN, Mars, Nestle, Philips, Reed Elsevier Group, J Safra Sarasin Bank, SAP, SGS, Swiss Re and YOOX Group.
“Investing in renewable energy is good for business, the economy and the planet,” Steve Howard, chief sustainability officer for Ikea, said recently.
“That’s why we’ve committed to match 100 per cent of our energy use with our own renewable energy generation by 2020 and have allocated 1.5 billion euros to take us closer to this goal.
“Every business can benefit from making the switch to clean, abundant energy and RE100 is a call to action to accelerate this transition.”
Marketed energy consumption
The US Energy Information Administration estimates that about 11 per cent of world marketed energy consumption is from renewable energy sources – biofuels, biomass, geothermal, hydropower, solar and wind – with a projection for 15 per cent by 2040.
The initiative belongs to the Climate Group in partnership with the US-based Carbon Disclosure Project.
In the first report, “RE100: the journey to 100%” launched on January 19 at the World Future Energy Summit in Abu Dhabi, some achievements have been listed.
H&M’s operations in the UK and Netherlands are already at 100 per cent. Philips increased purchased renewable electricity to half of its total in 2013. Yoox Group’s energy consumption from renewable sources rose from 20 per cent in 2012 to 49 per cent in 2013.
Mars is building a 200-megawatt wind farm in Texas that is expected to supply 100 per cent of its US energy requirements this year and 12 per cent of its global power demand.
Commerzbank in 2013 lent US$7 billion for renewable energy development.
Formula E is working toward becoming the first carbon-neutral racing championship with a goal for all races to be powered by 100-per-cent renewable energy.
“RE100 is fully aligned with Nestle’s explicit commitments, which reflect our respect for the society in which we operate, respect for the environment and respect for future generations,” said Claus Conzelmann, vice president and head of safety, health and environmental sustainability.
“Businesses are already taking bold and ambitious action to help create the transformative change we need to drive the clean energy revolution.
“One of the ways they are doing this is by switching to renewable power. This is a smart business decision. It can provide energy security, help manage fluctuating energy costs, improve reputation and deliver carbon emission reduction goals.”
The report found that solar PV is the most popular renewable power technology for corporations.
Heavy industry, construction and manufacturing are the biggest investors in renewable energy, led by those in Europe. Consumer products, manufacturing and heavy industry are getting the best financial returns.
“The development of a thriving, global market for authentic renewable power will be a game-changer in emissions reductions and will drive a transition to a low-carbon economy. Business leadership is essential to making this change happen,” said Emily Farnworth, RE100 campaign director for the Climate Group.
