Renewable power makes good business sense - leading companies

Reading time: 5 minutes
27 June 2015

LONDON: Renewable power is good for business and should be a priority for governments taking climate action, senior business executives and energy experts urged today, Saturday June 27, at the FIA Formula E eprix in London.

The group of sustainability and energy leaders included Formula EIKEAInfosys and Marks & Spencer – all partners of RE100, the global initiative led by The Climate Group in partnership with CDP to engage, showcase and support the world’s most influential companies committed to using 100% renewable power.

They were joined by The Climate Group’s Chairman Phil LevermoreRE100 Campaign Director Emily Farnworth, and CDP’s Director of Communications Penny Cross.

Speaking ahead of the final race of the season, Alejandro Agag, CEO of Formula E, said: “Formula E is the first ever all electric cars racing series and it is extremely important to us that the cars are powered cleanly thanks to glycerine - an innovative zero emission fuel - because we know that to reach the full potential of electric vehicle benefits we need to use renewable energy. This is why it is important for us to be part of RE100 and that we are very happy to welcome them at our London ePrix.”

Joanna Yarrow, Head of Sustainability in the UK and IE for IKEA, one of the Founding Partners of RE100, said: "Climate change is one of the world’s biggest challenges and we need bold commitments and action to find a solution. That’s why we are going all in to transform our business, to ensure that it is fit for the future and we can have a positive impact. This includes going 100% for renewable energy, by investing in wind and solar, and converting all our lighting products to affordable LED bulbs, helping many millions of households to live a more sustainable life at home.”

Mohamed Anis, Head of Energy and Services for Europe, Infosys, which recently became the first Indian company to join RE100, said: "We've taken great strides in the past seven years to become sustainable across our operations, and with the renewable energy market opening up now in India, we aim to source all our electricity from renewables by 2018.”

Adam Elman, Head of Global Plan A Delivery, Marks & Spencer, said: "Through our sustainability programme, Plan A, we're working hard to cut our impacts and already directly source 100% renewable electricity in the UK and ROI. This includes electricity produced from the UK's largest single roof mounted solar array on our Castle Donington distribution centre. Being part of RE100 gives us an opportunity to share what we have learned and encourage other businesses to switch to renewable energy."

Phil Levermore, Chairman of The Climate Group added: “We need to secure a strong agreement at the climate talks in Paris later this year, but even if we do, it won’t kick in till 2020 – which leaves us with a gap. This is an opportunity for business to show real leadership on climate by joining RE100. With more than half the world’s electricity being used by the industrial and commercial sectors, this is our chance to shift the global energy market in favour of renewable power – helping us transition to a prosperous, low-carbon future.”

There are now 20 members of RE100, including Autodesk, BT Group, Commerzbank, Elion Resources Group, Formula E, H&M, IKEA, Infosys, KPN, Marks & Spencer, Mars Incorporated, Nestlé, Philips, Reed Elsevier Group, J. Safra Sarasin Bank, SAP, SGS, Swiss Re, Unilever and Yoox Group.

RE100 launches in China next week.


Media contact

For more information contact Marie Reynolds, RE100 Communications Manager07849 785635mreynolds@theclimategroup.org

About RE100

RE100 is a global initiative to engage, showcase and support influential companies committed to using 100% renewable power. RE100 shares the compelling business case for renewables, addresses barriers to wide-scale adoption, and develops transparent reporting mechanisms for companies. By massively increasing private sector demand for renewable power, RE100 will accelerate the transformation of the global energy market, enabling the transition to a prosperous low-carbon future. RE100 is led by The Climate Group in partnership with CDP, and is an action of the We Mean Business coalition.

About The Climate Group

The Climate Group is an award-winning, international non-profit. Our goal is a prosperous, low carbon future. We believe this will be achieved through a ‘clean revolution’: the rapid scale-up of low carbon energy and technology. We work with corporate and government partners to develop climate finance mechanisms, business models which promote innovation, and supportive policy frameworks. We convene leaders, share hard evidence of successful low carbon growth, and pilot practical solutions which can be replicated worldwide.

Since 2009, The Climate Group has been the convenor of Climate Week NYC, an annual international platform for governments, businesses and civil society to collaborate on bold climate action and low carbon leadership. In September 2014, Climate Week NYC hosted 150 events as the collaborative space in support of the UN Climate Summit.

The Climate Group has offices in Greater China, North America, India and Europe.  Please visit www.theclimategroup.org.

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