HP to boost efficiency after following media giants in joining RE100
HP, which hopes to use totally renewable electricity “in the future,” is also aiming to reach its RE100 targets by increasing the use of on-site renewable energy generation and using Power Purchase Agreements (PPAs) to offset any fossil fuel emissions, while also focusing on increasing capacity and developing opportunities for renewables in countries which “currently have little or no feasible options.”
The firm, which has pledged to increase the amount of power it sources from renewables from 13 to 40 per cent by 2020, follows media giants Bloomberg and Sky in signing up to the movement, started by the Climate Group in 2014, with the two firms setting clean power targets of 35 per cent and 100 per cent respectively, with Sky aiming to implement its target where available.
Nate Hurst, Chief Sustainability & Social Impact Officer at HP, believes that joining RE100 represents a significant milestone for the company as it moves toward being a business that is powered entirely by renewable electricity.
“As we continue to reinvent a more sustainable business and society, both cost-effective and low carbon sources of energy are essential to the future and the growth of HP’s business. This commitment is guided by our belief in a world where technology and sustainability can combine to become a powerful force for innovation, helping reinvent how businesses, communities, and individuals can thrive,” he said.
Amy Davidsen, Executive Director, North America at The Climate Group explains how the group have worked closely with HP and the company’s dedication to building sustainability into the business is clear.
“We welcome HP’s leadership following the COP21 climate change negotiations and its commitment toward driving forward the clean revolution – benefiting both the environment and the economy,” she said.
Sky, which already obtains most of its electricity from renewable sources globally, has set a gross emissions target to reduce its carbon intensity in half over the next four years, while Bloomberg, which sourced just one per cent of its electricity from renewable sources last year, is expected to reach 21 per cent clean power by the end of next year.
Fiona Ball, Head of Responsible Business at Sky, emphasises how the company wanted to show leadership, commit to a bold and challenging target and recognize the business case for low-carbon, while also showing that acting responsibly and being successful commercially go hand-in-hand.
“We can demonstrate the benefit of doing the right thing and leading by example, whilst also making our energy supply more resilient. The RE100 initiative provides an opportunity to be a part of something where there is a common goal and sense of ambition, and a strong message to markets and governments to encourage support for a more competitive, secure and sustainable energy system,” she said.
“We need to maintain momentum post COP21 in Paris and make sure actions come out of all of the hard work that went into last year.”
Curtis Ravenel, global head of sustainable business and finance at Bloomberg, added: “Sourcing renewable electricity enables us to diversify our energy supply, reduce costs, provide a hedge against rising traditional energy costs and helps contribute to cleaner, healthier communities.
“RE100 convinced us that they had gathered a strong coalition of committed companies, dedicated to real outcomes. That’s exciting to us. Collaborating with other companies who are demonstrating that distributed clean energy makes business sense will allow all of us to have a greater impact in bringing other companies along.”
