Blog: Nike and Wal-Mart join renewable energy pledge
Leonie Barrie | 25 September 2015
Nike and Wal-Mart have used the annual Climate Week in New York to pledge to source 100% of their electricity from renewable energy, joining H&M and M&S as part of the RE100 campaign.
The campaign, which is led by The Climate Group in partnership with CDP, launched last year and has been steadily building momentum, expanding from 13 corporate partners to include 36 major businesses from around the world.
“Climate change is a global issue that requires global solutions,” says Eric Sprunk, chief operating officer at Nike Inc. “We believe that collaboration is important to accelerate and scale sustainable innovations that have potential to change the world.”
Enrique Ostale, president and CEO of Wal-Mart Latin America,adds: “Wal-Mart set out on its journey to be powered by 100% renewable beginning in 2005, and today’s pledge with RE100 further affirms the importance of our aspirational goal. With much of Wal-Mart’s projected growth over the coming years set to take place in Central and Latin America, we are committed to increasing demand for renewable energy globally.”
The pledge is not just an altruistic one. According to Mark Kenber, CEO of The Climate Group, research shows that the most ambitious companies have seen a 27% return on their low carbon investments.
Other benefits? “Lowering risk, protecting against price rises, saving millions and boosting brand is what shaping a low carbon economy is all about.”
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