Goldman Sachs, Nike, Starbucks among 36 companies that pledge to use 100% renewable energy

The companies are among 36 businesses that have made the pledge to reduce C02 emissions

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The Independent Online

Goldman Sachs, Nike and Starbucks are among the Fortune 500 companies that have pledged to source 100 per cent of their electricity from renewable energy.

The companies are among 36 businesses that have made the pledge to reduce C02 emissions as part of RE100, a campaign by environment non-profit The Climate Group.

Those making the pledge may not be doing so entirely through altruism. Research has shown that businesses with a low carbon footprint see higher returns.

Mark Kenber, CEO of The Climate Group, said that those companies with the most ambitious carbon reduction programs can see returns of up to 27 per cent on their investments. “Lowering risk, protecting against price rises, saving millions and boosting brand is what shaping a low carbon economy is all about,” Kenber said.

A swathe of the world’s most powerful companies are the latest to pledge to use 100 per cent renewable energy, spanning the worlds of finance and fashion.

Goldman Sachs is on the list, after it pledged to cut emissions as part of the American Business Act on Climate pledge.

Procter and Gamble and Johnson and Johnson have also signed up, while Nike, Walmart and Starbucks represent the campaign on the high street.

RE100 was launched one year ago during a week of events to promote climate change in New York. At the time, IKEA, BT, H&M, Nestle and Mars were among the 12 corporate partners that made the pledge in time for the launch.

It has since grown to include a Chinese green developer, Elion Resources Group, and an Indian IT company, Infosys.

The Climate Group are pushing the campaign ahead of the United Nations Climate accord in Paris in December, where participating nations will come together to try and strike an agreement on reducing global carbon emissions.