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Coca Cola and BMW among companies who vouch to source 100% electricity from renewable energy

The global collaborative business initiative RE100 has passed a milestone as Coca-Cola Enterprises, BMW Group, International Flavors & Fragrances Inc. (IFF), Nordea Bank AB, Pearson PLC and Swiss Post announced they will source 100% of their electricity from renewable energy – taking the total number of committed companies to 53.

The wide-ranging businesses join a wave of world leading ICT companies including Microsoft, Adobe and Google who have also joined RE100 in the last week.

It is estimated that when the group of 53 companies are 100% powered by renewables, they will create demand for 90.1TWh of renewable electricity. This is approximately 0.4% of global electricity or 1% of electricity used by industry – more than enough to power Hong Kong and Singapore combined, according to the Climate Group. The switch would save around 56Mt of CO2 each year, which the company claims is broadly the same as Morocco’s emissions. 

The Climate Group and CDP also estimate that if 1000 of the world’s most influential companies became 100% powered by renewable electricity, they could save around 1080Mt of CO2 every year – 3.4% of total global emissions, and more than the emissions of the entire continent of Africa. Renewable electricity demand would increase to around 1,700TWh – accounting for almost a tenth of all electricity used worldwide.

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%.” 

She continues, “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. The RE100 campaign is sending a clear message to Paris that the technological solutions to tackle climate change already exist, and that business supports the switch to renewable power. An ambitious and robust climate agreement will help accelerate the shift to the 100% renewable electricity future that everyone is calling for.”

Companies are increasingly recognising the business case for switching to 100% renewable electricity. Dr. Markus Schramm, Senior Vice President, Corporate Planning and Product strategy at BMW Group, said: “The BMW Group is continually reducing its energy consumption and is intensifying its efforts to produce more power in-house and to use energy from local renewable sources. The company also actively supports the expansion of renewable energy. This enables us to increase our autonomy and profitability.”

Hubert Patricot, European President at Coca-Cola Enterprises, said: "Committing to 100 percent renewable electricity will help us to grow a low-carbon business and deliver our wider commitment to reduce the carbon footprint of our core business operations by 50 percent by 2020.  Working with like-minded organisations like RE100, we are convinced we can accelerate the pace of change."

There are now 53 companies in the RE100 campaign, including: Adobe, Alstria, Autodesk, Aviva, Biogen, BMW Group, BROAD Group, BT Group, Coca-Cola Enterprises, Commerzbank, DSM, Elion Resources Group, Elopak, Formula E, Givaudan, Goldman Sachs, Google, H&M, IKEA Group, Infosys, International Flavors & Fragrances Inc.(IFF), J. Safra Sarasin, Johnson & Johnson, Kingspan, KPN, La Poste, Land Securities, Marks & Spencer, Mars Incorporated, Microsoft, Nestlé, Nike, Inc., Nordea Bank AB, Novo Nordisk, Pearson PLC, Philips, Procter & Gamble, Proximus, RELX Group, Salesforce, SAP, SGS, Starbucks, Steelcase, Swiss Post, Swiss Re, UBS, Unilever, Vaisala, Voya Financial, Walmart and YOOX Group.

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