Nine Fortune 500 firms sign up to buy only renewable energy

30 September 2015

A further nine Fortune 500 companies have pledged to use 100 per cent renewable electricity.

Goldman Sachs, Johnson & Johnson, Nike, Procter & Gamble, Salesforce, Starbucks, Steelcase, Voya Financial, and Walmart have joined RE100, a global campaign led by The Climate Group in partnership with CDP, which supports businesses committed to 100 per cent renewable electricity and reducing CO2 emissions.

The Climate Group said that the pledges were a timely reminder ahead of COP21 UN climate talks in December that leading businesses want strong climate action from governments.

RE100 was launched a year ago and now has 36 businesses joined up to the campaign.

Elion Resources Group was the first Chinese company to join in March, followed by the first Indian company Infosys in May.

This month, UBS, Dutch Life Sciences and Royal DSM also joined.

Mark Kenber, chief executive of The Climate Group, said: “Research shows that the most ambitious companies have seen a 27 per cent return on their low carbon investments, no wonder new names keep joining RE100.

“Lowering risk, protecting against price rises, saving millions and boosting brand is what shaping a low carbon economy is all about. Today these companies are signalling loud and clear to COP21 negotiators that forward-thinking businesses back renewables and want to see a strong climate deal in Paris.”

Johnson & Johnson chief executive Alex Gorsky said the commitment chimed with the company’s mission as a health care company.

“We understand the intrinsic link between a healthy environment and human health,” he said. “Each day we work to continuously improve our energy efficiency, lower our environmental footprint and partner on innovative approaches.”

Rodney Martin, chief executive of Voya Financial, said: “We believe that efforts like these are not only good for the environment but that they also contribute to a positive culture that attracts employees, partners and customers – and supports a company’s bottom line.”

Goldman Sachs and Walmart were two of 13 companies to commit to reducing their emissions as part of the American Business Act on Climate Pledge in July.

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