In 2016, we joined the RE100* investor group, an engagement project on climate change led by ShareAction, a UK non-profit investor organisation.
RE100 calls on companies to commit to using 100% renewable energy and, as a spin-off EP100, asks companies to commit to doubling their energy productivity.
87 companies had joined the RE100 initiative by the end of 2017, amounting to a total demand of 107 terawatt hours (TW-h) of renewable electricity, or the total annual amount of power consumed by the Netherlands.
In March 2017, AkzoNobel joined RE100, announcing its ambition to use 100% renewable energy by 2050. The company is the second-largest electricity user in the RE100, with an annual consumption of around 16 terawatt hours.
In addition to Akzo, 21 more companies in our portfolio joined the RE100 group, including: Adobe, BMW, DSM, Novo Nordisk, Proctor & Gamble, Starbucks and Vestas.
We have also asked several companies in our portfolio to join, including: Adidas, BNP Paribas, Deutsche Telekom, Ericsson, Ford, Gap, Heineken, PSA (Peugeot Citroen), Roche, and Renault.
Engagement will continue in 2018, aligning the goals of engagement even more closely with the 2°C limit set in the Paris Agreement and introducing the ‘Science Based Targets’ approach.