News: RE100 initiative reaches milestone of 100 companies
More than 100 multinationals have now pledged to generate 100 per cent of their energy from renewable sources.
The Climate Group’s RE100 initiative has reached its 100 members as paints and coatings giant AkzoNobel, French financial firm AXA, fashion brand Burberry and Carlsberg Group made their commitments.
The former company aims to become carbon neutral and use 100 per cent renewable energy, covering heat and electricity, by 2050.
AXA has said it will source 100 per cent green power by 2025, Burberry has set a target date of 2022 for its whole business while Carlsberg aims to source 100 per cent renewable electricity for its breweries by 2022.
RE100 members, including 30 Global Fortune 500 companies, have a total revenue of $2.5trn (£1.94tn) and operate in a diverse range of sectors.
Together, they are creating around 146TWh in demand for renewable power annually – equivalent to the electricity needs of Poland.
Helen Clarkson, CEO of The Climate Group says the organisation is really pleased at the success of its campaign.
“By championing the compelling case for business action, we have reached 100 members three years earlier than expected. Changes in the market such as the falling cost of renewables have also worked in our favour,” she said.
“We are now calling on companies to go one step further and inspire their suppliers and peers to follow their lead so that together we can speed the transition from fossil fuels to renewables to keep warming well under 2°C.”