More big names sign up to renewable power commitmentDecember
BMW Group, Coca-Cola Enterprises, International Flavors & Fragrances Inc. (IFF), Nordea Bank AB, Pearson PLC and Swiss Post are the latest corporates to sign up to RE100, the global commitment to source 100% of their electricity from renewable energy.
The wide-ranging businesses join a wave of world leading ICT companies including Microsoft, Adobe and Google who have also joined, taking the total number of committed companies to 53.
New research from The Climate Group and CDP shows that when today’s group of 53 companies are 100% powered by renewables, they will create demand for 90.1TWh of renewable electricity. That’s around 0.4% of global electricity or 1% of electricity used by industry – more than enough to power Hong Kong and Singapore combined. The switch would save around 56Mt of CO2 every year – broadly the same as Morocco’s emissions.
Emily Farnworth, RE100 Campaign Director at The Climate Group, said: “Many companies are switching to renewable power at a remarkable rate, and encouraging their suppliers and customers to do the same. Our analysis of the private sector’s electricity consumption and carbon emissions indicated that a switch to power from renewable sources could cut global CO2 by nearly 15%."
“By acting together, the world’s leading companies are creating a thriving renewable energy market that will help keep a global temperature rise below two degrees."