The RE100 Initiative

What does actually RE100 stand for?

RE100 stands for Renewable Energy 100. In detail, RE100 is a global initiative uniting more than 160 of the most influential businesses committed to 100% renewable electricity. The transition to renewables enables companies to shift the energy market towards a low-carbon economy and hence keep global warming under 2 degrees Celsius. The initiative aims at exploiting the decreasing costs of electricity from sustainable energy sources thus producing cost reduction for member companies and benefits for the earth. Indeed, companies in the commercial and industrial sector represent two thirds of the world’s end-of-use of electricity. Risultati immagini per re100

Is it admirable intention or rather true commitment?

The answer is true commitment. Companies joining RE100 set public goals to source 100% of global electricity from renewable sources within a specified period of time. In order to respect such goal, members disclose data annually on their progress and RE100 reports on the results received. Furthermore, the strength of the project is mirrored in the momentum it has gathered since its creation in 2014. The initiative has expanded both in terms of number of members and in terms of geographical diversity. Indeed, participants come from Europe, US and even China and India. There is more. In Europe RE100 has successfully asked the EU to set more ambitious targets for renewable energy for 2030 and has strengthen the Guarantees of Origin system, i.e. a method to ensure the source of renewable energy.

The companies involved in RE100

Let’s start with the founding members. IKEA and SwissRe are the two founding partners of the initiative. The former has invested around €1.5 billion in renewable energy projects ranging from wind to solar power in order to support the shift to a low-carbon economy, while the latter is financing their own solar power production site in the US and is about to complete a 400kW installation in India. The list of prestigious companies goes on. Here are some examples divided by industry.

Technology: Adobe, Microsoft, Facebook, Google, 3M, SAP.

“Our long-term goal is to power our operations and digital delivery of products with 100% renewable energy by 2035. We'll run entirely on renewable electricity” says Michelle Crozier Yates, Director of Corporate Responsibility at Adobe. Through the help of its Foundation, Abode does not just target minimization of emissions in the company, but it also aims at helping local power communities with renewable electricity, therefore realising economic and green benefits for the community in which it operates.

Finance: Allianz, HSBC, Bank of America, UBS, BBVA, ING Direct, DBS.

DBS Bank is willing to go 100% renewable because “transitioning to renewable energy will not only allow us to reduce our carbon emissions but will also make business sense by offering us a hedge against fuel price risk”- Mike Power, Chief Operating Officer for Technology and Operations. DBS intends to shift towards sustainable energy sources through a long-term plan. The bank will concentrate on Singapore were the majority of its operations take place. The aim is to achieve 100% renewable power by 2030 with an interim goal of 60% by 2020.

Consumer Goods: Johnson&Johnson, Nestlé, P&G, Danone, Unilever.

Unilever has joined the initiative in order to reduce its environmental footprint and hence to decrease the risk of extreme weather which could endanger supply chains and operations. The company has announced that it will be carbon negative by 2030 and “to ensure we stay on track we’re committed to ensuring that all the grid electricity we consume is renewable by 2020, and to eliminating coal from our energy mix by the same year”- Marc Engel, Chief Supply Chain Officer.

Retail and Department Chain: Walmart, H&M, Tesco, Decathlon

Automotive: BMW, GM, TATA

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