Corporate Pledges to Increase Renewable Energy

Late this summer some of the world’s most prominent companies pledged to derive all of their energy from renewables. Nine major companies joined RE100, a global coalition of firms intent on converting to renewable energy. The new members include Johnson & Johnson, Nike, Procter & Gamble, Salesforce, Starbucks, Steelcase, Walmart and Goldman Sachs. Some companies have already reached the 100 percent target. There are now 36 companies that have joined RE100 since it was launched at Climate Week in 2014.

Increasing renewable energy capacity reduces a company's use of fossil fuels and minimizes their greenhouse gas emissions.

Renewables are an increasingly attractive to corporations because they save money and get ahead of expected regulatory changes. They also have added public relations advantages associated with reducing emissions and combating climate change.

“Research shows that the most ambitious companies have seen a 27 percent return on their low carbon investments,” said Mark Kenber, CEO of the Climate Group. “Today these companies are signaling loud and clear to COP21 negotiators that forward-thinking businesses back renewables and want to see a strong climate deal in Paris.”

As far back as 2011 surveys indicated that consumers want to see climate action from companies.

A number of factors are coalescing to make environmental concerns a core part of corporate strategy. Transitioning away from fossil fuels towards renewable energy is one of the major keys.

Related
Leading Companies Commit to Renewable Energy (RE100)
Corporations Go 100% Renewable for Climate Week NYC
Why the Corporate World is Embracing Renewable Energy
Leading Companies Commit to Renewable Energy (RE100)

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