Tuesday 23 September 2014

IKEA, H&M, Mars back 100% green energy pledge

Some of the world’s biggest brand names signed up to a campaign to encourage major businesses towards solely using green energy.

The flatpackers IKEA, insurers Swiss Re, fashion brand H&M and food groups Mars and Nestlé are among the firms joining the RE100 campaign.

Its stated goal is that “by 2020, 100 of the world’s largest businesses will have committed to 100% renewable power”.

Steve Howard, Chief Sustainability Officer of IKEA Group said: “Investing in renewable power makes complete business sense. It aligns with our corporate expectations on financial returns and our values."

He said the flatpack firm is putting its money where its mouth is: "We have generated 1,425 GWh of power from renewable sources. We plan to invest approximately €1.5 billion (£1.2bn) in new renewable energy projects to meet 100% goal by 2020 goal.”

The campaign is led by The Climate Group with the Carbon Disclosure Project aided by groups such as the International Renewable Energy Agency (IRENA).

The aim is to get businesses in China and India signed up over the coming year, said Ben Ferrari of The Climate Group.

Other signatories include lighting giant Philips, publishing and information firm Reed Elsevier, private banking firm J. Safra Sarasin and Italian mail order retail firm Yoox.