Fortune 500-listed companies Goldman Sachs, Johnson & Johnson, NIKE, Inc, Procter & Gamble, Starbucks, Steelcase, Voya Financial, and Walmart have pledged to source 100 per cent of their electricity from renewable energy.
The pledges are part of the “RE100” global campaign by non-profit groups, The Climate Group and Carbon Disclosure Project (CDP), which encourages companies to commit to 100 per cent renewable energy.
CEO of The Climate Group, Mark Kenber, said: “Research shows that the most ambitious companies have seen a 27 per cent 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,” Kenber said.
“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 private sector is key to reducing global carbon emissions as it accounts for more than half of the world’s electricity consumption.
Some of the companies have target dates as far out as 2050, but others are shooting for faster turnarounds at around 2020 or even 2015.
A company called Steelcase reached their goal last year.
All in all it indicates that if a corporation really wants to commit to becoming 100% fossil fuel free, they can do it.
And that is good news for the future of this planet. And you know, those of us living on it.
Capitalism sees the writing on the wall -- get clean or lose business and gain bad PR. Get clean and make (even more) money! Win-win.
ReplyDeleteA good news story. Thanks.
Exactly.
DeletePeople got HFCS removed from products by simply not buying them. When enough consumers spoke with their wallets, companies changed their formulas.
The same thing happens with Wall St. Enough investors refuse to buy stocks in companies that support Aparteid or tobacco, it makes an impact.
These companies are going to be able to brag that they get their power from 100% renewable energy. They aren't 100% green, but even using renewable energy is a big step.
I'm attached to the grid but I have PV panels on the roof that generate 100% of the electricity I use in a year, plus a little extra. Unfortunately I do not get paid for the excess I produce. Not yet. But I'm hoping the tide will turn and the next time the legislation that my local utility must pay me for the excess I produce comes before the state legislature that it passes. When it does, I'm throwing four more panels on the roof.
In the meantime I'm already with Voya and I might consider investing in Proctor and Gamble or Johnson and Johnson but I'll have to do a little research first. I think one of them was responsible for the eminent domain in Connecticut that took people's homes for private profit rather than public necessity. I'm still burned about that precedent.
Isn't Goldman Sachs where Rafael Cruz' wife works?
ReplyDeleteIt sure is where little miss blonde Heidi works, secret service code name "Angel". Fucking bitch!
DeleteRenewable energy initiatives are one of the many reasons the Koch bros are doubling down on campaign contributions. They will continue trying to stop progress since it hurts their bottom line.
ReplyDeleteGood luck with that.
DeleteThe more electricity costs, the more attractive it will be to install solar.
There will be a tipping point where buying from renewable solar, wind, geothermal or whatever will be more attractive to companies who will benefit from the positive P.R.
I really don't care why they do it, just that they do.
Bravo to these companies! I bet the Kochs are furious! Why don;t they put their billions into renewables, and actually do something positive for once?
ReplyDeleteExcellent! Good business, good PR, and good for all of us.
ReplyDeleteBoehner resigning!!!!!
ReplyDeleteOT: Boner's resigning from Congress at the end of October!!!!
ReplyDeleteThe local Walmart store has 3 or 4 long arrays of solar panels in the parking lot. Renewable AND makes a shady place to park under. The storage lockers next to them are seeking a permit to do the same. Wondering when the malls will figure it out.
ReplyDeleteGlad to hear that!
DeleteThey're called "Solar Groves" and Kyocera was the first locally to do it. Not only do they generate electricity and provide shade for the cars but eventually if you own an electric you'll be able to plug in and charge during work or shopping.
DeleteIt's the future.
And if the local laws require the utilities to pay you for the excess you generate and return to the grid, I can see a lot of businesses looking to cash in on what would otherwise be dead space.
The positive PR doesn't hurt either.
If I can charge my Nissan Leaf at a CostCo, why would I shop at Lowe's?
I just put solar panels on my roof three weeks ago. It's not clear precisely how the bottom line will pencil out (probably a 10 year payback; quicker if PG&E raises rates faster than inflation), but I feel good that about 90% of my electricity is clean, and that the money is going to small local businesses and a small local credit union. (The panels themselves are made in South Korea, but whaddaya gonna do?)
ReplyDeleteI'm assuming that solar won't work well in Alaska, but that wind could be a very good deal.)
Germany gets less sun than Alaska and something like 50% of Germany's energy is solar.
DeleteI put panels in in 2005. My true up is in November and every year I owe no money. I generate just slightly more than I use. Unfortunately the local utility is not required to pay me for any excess I generate, but when the law changes I'll be adding four panels so I can make a profit.
DeleteI think the converter was only guaranteed for 10 years (the panels less) but with mostly no moving parts, I expect it all to last a lot longer. I'm not sure if it's paid for itself but I wouldn't be surprised since the cost of electricity keeps going up every year. Every time I hear they're raising the rates I just smile and think it will be paying itself off all that much faster.
There still isn't a real reliable practical home size wind generator. I guess they break or there are bearing problems or something. There is also the noise. But I sure wouldn't mind having a wind turbine too so I can generate both during the day and at night.