100% renewable power: Starbucks, Walmart, Nike latest to join RE100
Nine companies, including such household names as Goldman Sachs, Walmart and Starbucks, joined a green electricity campaign this week called RE100 that aims to promote the use of renewable energy resources for electricity as a way of combatting climate change.
|Nike. Credit: JorgeCR7/Wikimedia Commons|
“Goldman Sachs, Johnson & Johnson, Nike, Procter & Gamble, Salesforce, Starbucks, Steelcase, Voya Financial and Walmart have today joined RE100,” said the RE100 campaign in a statement on Wednesday.
RE100 was organized by The Climate Group and CDP, formerly known as the Carbon Disclosure Project. In addition to the high profile U.S. companies, the campaign has also recruited an impressive roster of international companies, including the Swedish IKEA Group and insurer Swiss RE.
The companies that join the campaign promise to increase reliance on renewable energy resources, such as wind and solar power, for electricity. The objective is to mitigate the impact of global climate change by reducing greenhouse gas emissions from fossil fuels.
The scope of the renewable energy procurement commitments made by the members of RE100 vary widely.
For example, Goldman Sachs said it would use 100 percent renewable by 2020 whereas Johnson & Johnson said it would do so by 2050. Other alliance members like Steelcase have already started using electricity generated by renewable energy exclusively.
“Climate change is a global issue that requires global solutions,” Eric Sprunk, Chief Operating Officer of Nike, said in a statement. “We believe that collaboration is important to accelerate and scale sustainable innovations that have potential to change the world, and Nike is proud to join the leading global brands in RE100 with our commitment to reach 100% renewable energy.”
Global brands continue to join RE100 at a rapid pace and it’s no wonder.
“Research shows that the most ambitious companies have seen a 27 percent return on their low carbon investments…Lowering risk, protecting against price rises, saving millions and boosting brand is what shaping a low carbon economy is all about,” 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.”
In December, political leaders and diplomats from around the world will convene in Paris to negotiate a potential international agreement to respond to climate change.
Meanwhile, on Tuesday, Hollywood actor Leonardo DiCaprio joined more than 400 institutions and 2,000 individuals who have promised to divest from fossil fuels.