Germany outfit BayWa has committed to cover all its electricity requirements with renewable energy from 2020 onwards.
The company, which has businesses involved in agriculture, energy and building materials, has joined the RE100 initiative led by the The Climate Group and CDP.
BayWa said it would achieve the goal through power purchase agreements and investments in the group’s own renewable energy projects, among other things.
BayWa chief executive Klaus Josef Lutz said: “Companies can only remain successful if they transfer global connections and developments into their actions and assume responsibility for the consequences of their business activities.
“We want to support this ambitious goal with all our strength. Renewable energies play an important role in this.”
RE100 head Sam Kimmins said: “BayWa’s ambitious commitment to reach 100% renewable electricity by 2020 sends a clear message that going all in on renewables is a sound business decision.
“With solar and onshore wind increasingly providing the cheapest sources of new electricity generation, there’s no reason to delay – clean power is good for both the bottom line and for tackling carbon emissions.”
RE100 is a global leadership initiative bringing together more than 180 businesses committed to 100% renewable power.