Going 100% renewable is a smart business decision: IKEA, Swiss Re, Mars, BT and other leading companies pledge to transition

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22 September 2014

NEW YORK: Leading businesses including IKEA, Swiss Re, BT, Formula E, H&M, KPN, Mars, Nestlé, Philips, Reed Elsevier, J. Safra Sarasin and Yoox, join a powerful group of NGOs and clean energy experts today to announce the launch of a multi-year initiative to encourage major companies to commit to using 100% renewable power.

With the goal that “seeking to get the world's most influential businesses to commit to 100% renewable power”, the RE100 campaign will highlight the business and reputational benefits enjoyed by companies who make the commitment to use power exclusively from renewable energy sources. It will also help companies who wish to switch to renewables by providing guidance on selecting and implementing the best approach to utilizing renewable power, and information on the financial implications, risks and rewards of different options.

Businesses need a secure, reliable and affordable energy supply. While fossil fuels have historically provided this, drawbacks of using depleting and polluting resources make seeking alternatives critical. Renewable energy sources are a smarter option – providing an affordable, clean, reliable and guaranteed future power supply.

Leading businesses, NGOs and renewable energy experts have now come together in a coordinated effort to accelerate businesses across the world to commit to using ‘100% renewable power’.

Led by The Climate Group in partnership with CDP and in collaboration with the International Renewable Energy Agency (IRENA) and others – the RE100 campaign will provide a powerful network to support and celebrate businesses that are increasing their use of renewable power.

IKEA, Swiss Re, BT, Commerzbank, Formula E, H&M, KPN, Mars, Nestlé, Philips, Reed Elsevier, J. Safra Sarasin and Yoox, have all made firm commitments to using renewable power – recognizing the environmental and business benefits.

RE100 will showcase how businesses are making the journey towards 100% renewable power. The campaign will engage business leaders, policymakers and financial institutions to encourage their role in accelerating a clean energy future.

Steve Howard, Chief Sustainability Officer, IKEA Group said: Investing in renewable power makes complete business sense. It aligns with our corporate expectations on financial returns and our values. So far, we have generated 1,425 GWh of power from renewable sources. We plan to invest approximately €1.5 billion in new renewable energy projects to meet 100% goal by 2020 goal – and RE100 is a great way to tell our story.”

Swiss Re recognizes the business opportunity of renewable energy too. Juerg Trueb, Head of Environmental and Commodity Markets at Swiss Re said, “We decided on a 100% renewable power approach because as a leading wholesale provider of reinsurance and insurance we believe that tackling climate change while meeting the energy needs of a growing and developing world is an urgent matter. This can only be done by improving energy efficiency and switching to low carbon options including renewable energy sources. Therefore by showing leadership in investing in renewable energy we are supporting this drive towards a low carbon future and we can also take advantage of the growing market that exists with these climate change solutions.”

Ben Ferrari, The Climate Group’s Director of Partnerships highlights the focus for the campaign in the coming year: “We are delighted with the ambition of leading companies to go 100% renewable. We plan to continue to grow this group and expand our outreach in China and India over the coming year. It is an exciting time for renewable power.”

Pedro Faria, Technical Director at CDP expands on how RE100 will help companies define and report on their renewable energy commitments, “We know that defining and reporting on corporate renewable energy commitments is critical to ensuring the development of authentic renewable energy and avoid double counting. We are committed to working with The Climate Group and other NGOs working on this same issue to provide clear and consistent guidance for companies. This will ensure credible and transparent reporting of company commitments.”

Find out more about the initiative at TheRE100.org.

RE100 was launched at Climate Week NYC today, at the Opening Ceremonywhich is co-convened by The Climate Group and CDP, and brings together CEOs from the world’s top companies, influential civil society leaders, and heads of some of the world’s largest sub-national governments. Watch the live stream.

Climate Week NYC takes place from September 22-28. This annual international platform for governments, businesses and civil society to work together on low carbon leadership and innovation, is also the collaborative space for all related events in support of the UN Climate Summit

The RE100 panel: Steve Howard, Ben Ferrari, Philip K. Ryan, Kevin Rabinovitch. Watch the video of the RE100 launch below:


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