Goldman Sachs, Johnson & Johnson, Salesforce, Starbucks, Steelcase, Voya and Walmart have also signed up to the campaign, which has seen members rise from 12 to 36 just one year after launch.

Mark Kenber, CEO of The Climate Group which helped establish the initiative, said: “Research shows that the most ambitious companies have seen a 27% 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.”

The new additions to RE100 were announced on Tuesday of Climate Week in New York.

RE100 Insight Briefing

London calling

The news comes a week after Swiss financial services provider UBS announced it would power its new central London headquarters using rooftop solar panels as part of a green transformation and commitment to RE100.

Caroline Anstey, head of UBS and Society said: “With our commitment to renewable energy our goal is to take a leadership role and help create demand for renewable energy across the globe. Reducing our own footprint is a key commitment within our climate change strategy, which also focuses on investments, financing, research and risk management.”

A for effort

The commitment from Procter & Gamble comes at a key time after they received a low grade from NGO InfluenceMap which conducted thorough forensic analysis on companies’ transparency over issues such as global treaties, carbon reductions, climate policy and relationships with business associations.

Len Sauers, vice president of global sustainability at Procter & Gamble, said: “We have a long term vision to be powered by 100% renewable energy and have a goal of 30% renewable energy by 2020. Efforts like RE100 are key to helping scale efforts and allow peer-to-peer networking with like-minded companies.”   

Renewable drive

America’s ‘green business drive’ ahead of the climate talks in Paris this December has been gaining momentum in recent months. Goldman Sachs and Walmart were two of the 13 companies, including Apple and Coca-Cola, to commit to reducing emissions as part of the American Business Act in July this year.

Yesterday (22 September) a Greenpeace-sponsored report found that the planet could source two thirds of its electricity from renewables by 2030. A seperate Greenpeace report also found that Britain could realisitically source 85% of its energy (not just electricity) from renewables. 

Matt Mace

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