Visa joins RE100 and commits to go 100% renewable by 2019

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28 February 2018

NEW YORK: Digital payments multinational Visa has joined RE100 today, committing to use 100% renewable electricity across its global operations by the end of 2019.

RE100 is led by The Climate Group in partnership with CDP, to scale-up corporate demand for renewables in the global energy market – showcasing the business case for action and overcoming barriers to accelerate a zero emissions economy.

“We congratulate Visa on joining RE100 with an ambitious 100% renewable electricity goal and for demonstrating leadership by working with key stakeholders to build local renewable electricity markets,” said Sam Kimmins, Head of RE100, The Climate Group.

Visa’s commitment was announced during the Climate Leadership Conference in Denver, Colorado, US, where the company also joined the Business Renewables Center and become a signatory to the Corporate Renewable Energy Buyers’ Principles.

“We are proud to play a role in driving the adoption of renewable energy,” said Al Kelly, Chief Executive Officer, Visa Inc. “For Visa, this announcement is an example of our longstanding commitment to operate as a responsible, ethical and sustainable company, while fostering economic growth.”

A CLEAN ROADMAP

To date, about 35% of Visa’s global electricity consumption comes from a mix of renewable energy sources, with three quarters of its greenhouse gas emissions originating from the company’s data centers and office buildings.

Helping to make its bold 100% renewables target easier to reach, Visa has been implementing a range of smart solutions to reduce its energy consumption, from efficient lighting and controls to improvements to its data center infrastructure.

The company is also working with local utilities and electricity market providers to purchase renewables where possible.

RE100’s recent report “Approaching a tipping point” shows how power purchase agreements are becoming more and more popular among RE100 members, with the proportion of renewable electricity being sourced this way growing fourfold in 2016.

In particular, RE100 members in the US generated the greatest increase in PPAs that year, thanks to falling costs and a favorable legislative framework.

“Visa’s commitment to renewable electricity does not end at our front door,” said Douglas Sabo, vice president and head of Corporate Responsibility and Philanthropy, Visa. “We aim to support broader industry progress in this area by joining the Business Renewables Center as well as signing on to the Renewable Energy Buyers’ Principles.”

The company will invest in renewables particularly in the US and UK, where four facilities account for 80% of its global electricity use.

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