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  • More companies than ever committed to ambitious climate action at Climate Week NYC

    • Almost 300 multinational businesses with a combined revenue of US$5.5 trillion now driving climate action on renewable power, electric transport, and smarter energy use in more than 140 markets worldwide;
    • Climate Week NYC sees biggest year yet with 20+ new signatures to international non-profit The Climate Group’s corporate leadership initiatives - nine of those in RE100;
    • Ambitious new commitments include Deutsche Telekom targeting 100% renewable electricity by 2021; 
    • But a vast global scale-up still needed – The Climate Group calls on thousands of major businesses around the world to get ready for the ‘Climate Decade’.

    NEW YORK CITY: Climate Week NYC is witnessing its busiest year yet for ambitious corporate action with 20+ new commitments on cleaner, smarter energy, The Climate Group has revealed – but a vast global scale-up is still needed to deliver on the Paris Agreement and limit a global temperature rise to 1.5˚C.

    Almost 300 multinationals across every major sector are now committed to action, representing US$5.5 trillion in combined revenue, with operations in more than 140 markets and more than 16 million employees – almost double the workforce of New York State.

    Committing to 100% renewable electricity today

    US retail giant Target Corporation, Europe’s biggest telecommunications operator Deutsche Telekom, Japanese department store chain Takashimaya, and Australia and New Zealand Banking Group Limited (ANZ) are committing to source 100% renewable electricity as part of the RE100 initiative, led by The Climate Group in partnership with CDP.

    Also signing up today are leading global outdoor advertising company JCDecaux, global professional services company Accenture, US heating and ventilation technology company Trane, and the world’s largest solar module manufacturer JinkoSolar – headquartered in China. They follow hot on the heels of the Canadian athletic apparel company lululemon, which joined RE100 on Friday.

    Marking five years since The Climate Group launched RE100 at Climate Week NYC 2014, today’s pledges see the award-winning initiative surpass a 200-member milestone, driving 220 TWh of renewable electricity demand – almost enough to power Indonesia. By delivering on their goals, member companies are set to save the equivalent annual CO2 emissions of 27 US coal fired power stations.

    Helen Clarkson, Chief Executive Officer, The Climate Group, said, “It’s incredibly exciting to convene so many companies leading by example on cleaner energy and transport this Climate Week NYC. From the US and Europe to India and Japan, ambitious business action is starting to accelerate market change around the world.

    “Supportive policies are important, but the business case is clear, and Chief Financial Officers everywhere must ready themselves for this, the Climate Decade. The private sector has a vital role to play in halving global emissions by 2030 – we won’t stop pushing until thousands of companies are moving forward at pace.”

    Cristina Gamboa, CEO, World Green Building Council commented: "The building and construction sector is stepping up to take climate action. The World Green Building Council global network is helping more and more business leaders and cities on the pathway to a net zero carbon future through our Net Zero Carbon Buildings Commitment. I’m delighted to welcome the new corporate signatories who are leading the way to transform the built environment to make healthier and more sustainable."

    Commitment detail and quotes

    RE100

    Target will source 100% renewable electricity across its entire operations – including more than 1,800 stores, dozens of warehouses and global offices – by 2030, with the interim goal of reaching 60% by 2025. The company is investing in projects that produce electricity through renewable resources, like solar and wind, and is on its way to installing 500 rooftop solar panels by 2020. These efforts will help Target to meet its broader climate goals and deliver on its commitment to creating a more sustainable future.

    John Leisen, Vice President, Property Management, Target, said, “Target puts the needs of people, communities and the planet at the center of everything we do, to help create a better tomorrow. Our climate and energy goals are important initiatives to help deliver on that promise. At Target, we’re committed to operating all our facilities with 100% renewable electricity by 2030 and are thrilled to be joining RE100 in recognition of that commitment.”

    One of the largest banks in Australia, ANZ has made an ambitious commitment to sourcing 100% renewable electricity by 2025. The bank is driven by its broader sustainability strategy and in part by the actions and growing expectations of its customers as they seek to manage energy price volatility. In 2017, ANZ joined a collective to source renewables via joint power purchase agreement (PPA) in Victoria. Future plans include signing additional PPAs for wind and solar energy (partnering with customers where possible), and increasing installations of onsite solar panels. The priority will be Australia and New Zealand – its largest footprint – followed by the rest of its operations.

    Kate Langan, Group GM Property, Australia and New Zealand Banking Group Limited, said, “We are committed to reducing our environmental footprint in line with our focus on environmental sustainability. Moving to 100% renewable energy for our electricity by 2025 not only makes good business sense, it is good for the planet and reflects our ongoing support for the goals of the Paris Climate Agreement.”

    RE100 and EV100

    Japanese department store chain operator Takashimaya is targeting 100% renewable electricity globally by 2050, including through solar power and biomass. The company will also transition its entire vehicle fleet to electric and install customer charge points at all stores in Japan, plus stores in China, Singapore, Thailand and Vietnam by 2030 (where possible). Eventually, all of its charge points will provide renewable electricity.

    RE100 and EP100

    JinkoSolar, a world leading solar manufacturer in China, pledges to lead by example by powering its own operations with 100% renewable electricity by 2025. It will use solar energy generated by sister company JinkoPower, install solar panels on all existing factory rooftops, and build new factories in regions with access to renewable energy sources such as solar, wind, hydro. The company will also encourage its suppliers to source renewable electricity. At the same time, JinkoSolar will deploy an energy management system by 2030 and improve its energy productivity by 30% by 2025 against a 2016 baseline. To progress toward this goal, the company has signed up to the EP100 Cooling Challenge to increase the energy efficiency of its cooling operations.

    Kangping Chen, CEO, JinkoSolar, said, “At JinkoSolar, we care as much about the sustainability of our products as we do the way we build them. Going green is our business, from the inside out, and we’re thrilled to be the world’s first solar manufacturer to be a member of RE100 and EP100 simultaneously. It makes business sense to save energy and switch to renewables. Being a responsible corporate citizen is more than just good business practice – it helps make society more sustainable and healthy.”

    ENDS

    Notes to editor

    1. Full list of new corporate commitments

    RE100

    Accenture – 100% by 2023 ANZ – 100% by 2025 Deutsche Telekom – 100% by 2021; JCDecaux – 100% by 2022; JinkoSolar – 100% by 2025 (70% by 2023), also joining EP100; Lululemon – 100% by 2021 Takashimaya – 100% by 2050, also joining EV100; Target Corporation – 100% by 2030 (60% by 2025); Trane – 100% by 2040 (60% by 2030), also joining EP100.

    1. According to official data, New York State has 8.3 million employees.
    2. At Step Up: The Business Case For Greater Government Ambition, The Climate Group’s flagship business event for Climate Week NYC on Wednesday, September 25, leading companies will highlight the progress they are making across renewable power, electric transport and energy productivity, looking to national governments to step up their own ambition to set the global direction for delivering a clean economy.  
    3. Sunday (September 22) saw the announcement of more companies committed to setting climate targets across their operations and value chains aligned with limiting global temperature rise to 1.5˚C and reaching net-zero emissions by no later than 2050. RE100, EV100 and EP100 are practical steps companies can take towards these goals.
    4. Last Friday (September 20), The Climate Group released survey results showing nearly two-thirds (64%) of Gen Z Americans want to work for employers committed to tackling climate change.
    5. Last week, RE100 members Unilever, Dentsu Aegis Network, Ingka Group (formerly IKEA) and Google announced major progress announcements on renewable electricity.
  • Envision leads the way for Chinese companies switching to renewable power

    Envision – an energy technology manufacturer and leader headquartered in China – has joined the global RE100 initiative, setting the most ambitious and earliest 100% renewable target out of member companies from Mainland China.

    Led by The Climate Group in partnership with CDP, RE100 now brings together more than 190 major companies from around the world committed to 100% renewable electricity. Many of these have operations and supply chains in China.

    Envision is targeting 100% renewable electricity by as soon as 2025, through technologies including wind turbines and solar PV coupled with smart energy management. The plan includes supplying renewable electricity to its battery factories located in Japan, the US, and the UK.

    Underlining the business case for switching to renewables globally, the company expects to save hundreds of thousands of tons of greenhouse gas emissions each year by 2025– in turn saving tens of millions of US dollars on its electricity bills.

    "The mission of Envision is to solve the challenges for a sustainable future for human beings,” said Zhang Lei, CEO of Envision. He called on other Chinese companies to “join RE100.”

    Yuming Hui, China Director, The Climate Group, welcomed Envision to RE100: “It’s a great step forward for Envision to lead by example. We hope it inspires thousands more Chinese companies to take action in their own operations – from buying certificates to installing solar PV and wind turbines, there are solutions available now.”

    Winds of change

    Companies in the commercial and industrial sector account for approximately two thirds of the world’s end-of-use of electricity. Switching this demand to renewables is transforming the global energy market and accelerating the transition to a clean economy.

    While China is a leader in utility scale renewable electricity deployment, to date, renewable energy supply has been less readily available to companies in China. But the market is starting to shift – hastened by growing demand from international business.

    In order to help break down the barriers Chinese companies face in switching to renewable energy, Envision will actively participate in local renewable electricity trading pilots, and work with the industry to promote China's establishment of a renewable electric trading market that is in line with international standards.

    In 2017 The Climate Group became a founding member of the Green Electricity Consumption Cooperative Organisation (GECCO), to help increase corporate uptake of renewable power in China.

    There is a recurring need to help suppliers resolve regulatory ambiguity on local or provincial approval for renewable energy projects in China. To find out how other RE100 members are helping on the ground, read our Going Beyond’ report.

  • US-based Fifth Third Bank makes history by powering up 100% renewable solar facility

    Fifth Third Bank's Aulander Holloman Solar Facility in North Carolina is officially declared open – with 80 megawatts (MW) of capacity, it is one of the largest solar projects in the US.

    It is the first time a member of the RE100 initiative, led by The Climate Group in partnership with CDP, has met its entire electricity need from solar power.

    Built by solar developer SunEnergy1, the facility is expected to generate clean power that is more than or equal to the amount Fifth Third uses in a year, enough to eliminate 143,000 metric tons of greenhouse gas emissions. 

    It means Fifth Third has reached its 100% renewable electricity goal three years ahead of its 2022 goal.

    “Fifth Third is making history”

    “Fifth Third was the first member company to contract for 100% solar power and is demonstrating that renewables make business sense,” said Amy Davidsen, North America Executive Direct, The Climate Group.

    “By adding clean power to America’s electricity grid, they’re accelerating a cleaner future for us all – and leading the way for other companies to follow suit.”

    Fifth Third’s power purchase agreement (PPA) facilitated the construction of the solar field by guaranteeing a fixed price for the electricity it generates, thereby enabling SunEnergy1 to secure funding and begin construction.

    The electricity generated by the facility will be resold at market rates into the local electricity grid, and Fifth Third will retire the renewable energy certificates (RECs) from the project.

    Banking on solar

    The solar setup includes more than 350,000 solar panels generating approximately  202,000 MWh of electricity per year.

    Greg D. Carmichael, Chairman, President & CEO, Fifth Third, said: “This is another example of our commitment to improving lives and doing what’s best for our communities and planet – today and into the future. 

    “This project enables us to contribute positively to the economy of one of our key market states in a way that strengthens Fifth Third Bank’s performance and reaffirms for our stakeholders that we ‘do well by doing good.’.”

    The US$200,000 project employed 1,000 construction workers and added tens of millions of US dollars  to the local tax base.

    The last RE100 Progress and Insights Annual Report showed that PPAs are an increasingly popular way for member companies to source renewable electricity, with the total amount in 2017 reaching just under 9 TWh – almost double the amount reported for 2016. In 2017, PPAs accounted for 20% of all renewable electricity purchased by members in the US.

    To find out more about RE100 members, click here.