Some multinationals are endorsing and promoting green power

Under the name RE100 a group of international business leaders are making firm commitments to be 100% renewable as an integral part of their business strategies. Corporate partners of RE100 currently include IKEA, Swiss RE, BT, Commerzbank, Formula E, H&M, Sarasin, KPN, Mars, Nestle, Philips, Reed Elsevier, SAP, SGS, and YOOX Group. More details about the partners of RE100 and the actions they are taking towards being 100% renewable powered at http://there100.org/actionat RE100 has recently published a 2015 Briefing Report describing current global trends in corporate demand for, and investment in, renewable power. Among the key points made:

  • the smartest companies are making firm commitments to be 100% renewable as an integral part of their business strategies.
  • such decisions will help them meet their future energy needs in a carbon-constrained world.
  • the journey to 100% renewable is not an easy one but it is achievable; and the rewards are demonstrably worth the commitment required.
  • the International Energy Agency suggests that to stay within a two-degree global temperature rise scenario, 42% of electricity must be generated from renewables by 2030, and 57% by 2050.
  • a report from sustainability non-profit Ceres found 14% of the Fortune 100 have specific renewable energy commitments.
  • the biggest energy users included in the dataset used for this report are making the largest investments in their own renewables installations. This suggests companies see real value in direct investment in renewable power, whether they are on-site or off-site installations, and prefer direct investment to paying higher and likely rising energy costs through existing power providers.
  • the most financially attractive direct investments made by the companies reviewed in the data used for this report are in biomass energy to produce heat and power for industrial processes. However, solar projects are also proving popular, and in some cases, wind makes commercial sense.
  • across all business sectors, working with electricity companies and power providers to set up power purchase agreements is a popular choice for companies that want to switch to renewable power, but don’t want to invest directly in power generation.
  • the total investment in renewable power technologies from companies included in the data analysis for this report amounted to US$9.8 billion.

The 13 page RE100 2015 Briefing Report can be downloaded at http://there100.org/resources

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