The firm is targeting 100% renewables by 2025 and is joined by Taiwanese health food manufacturer Grape King, Japanese construction company Hazama Ando Corporation and US toy company Radio Flyer, who are aiming to shift completely to clean power by 2035, 2050 and 2020 respectively.
The RE100 notes the world’s most influential companies are actively engaging with policymakers and utilities to accelerate the transition to renewable energy but stresses governments must now remove the remaining barriers to adoption – it suggests “unfavourable policy and market structures” are inflating prices and making it harder to switch in places such as China and Russia.
Three-quarters of the companies in the RE100 are targeting 100% renewable electricity by 2030 by the latest and more than 30 have already reached 100% renewable electricity.
More than a quarter of the renewable electricity sourced by members in 2018 was through direct methods that add renewable electricity capacity to local grids – PPAs accounted for 19% and self-generation made up 4%.
Helen Clarkson, CEO of The Climate Group, said: “At a time when UN research has said countries are underdelivering on climate action, leading businesses are stepping into the void left by national governments and accelerating the clean energy transition.
“With ten years left to halve greenhouse gas emissions, it is vital that governments respond faster to rising demand for renewable energy. Without decisive action, countries and the energy sector risk losing out on billions of US dollars in investment from RE100 companies.”