UBS joins RE100 and commits to 100% renewable electricity by 2020
We Mean Business
The Swiss financial services provider and global bank UBS announced today its commitment to source 100% of its electricity from renewables and to reduce its greenhouse gas emissions by 75% by 2020 against a 2004 baseline.
UBS has long been an advocate for climate action, and it is already purchasing all of its electricity from renewables in Switzerland, Germany and the UK. As a leading expert in financial risks, UBS is constantly trying to reduce climate change risks, by financing and supporting companies that invest in climate adaptation and mitigation, as well as investing in renewables and energy efficiency across its operations.
“With our commitment to renewable energy our goal is to take a leadership role and help create demand for renewable energy across the globe,” says Caroline Anstey, Global Head UBS and Society. “Reducing our own footprint is a key commitment within our climate change strategy, which also focuses on investments, financing, research and risk management.”
Mark Kenber, CEO of The Climate Group, the organization that convenes RE100 together with CDP and We Mean Business, welcomed the commitment: “UBS has been an early mover in its industry applying environmental standards and ambitious targets to mitigate climate change. Joining RE100 and setting a goal to be 100 per cent powered by renewable energy by 2020 is a win-win – as well as showing clear leadership, it makes sound business sense.”
Several banks across the globe have joined the We Mean Business campaign by taking bold climate actions, showing how the financial and investor community is tackling climate change both to reduce material business risks and take advantage of the clear business benefits created by a global low-carbon economy.
BNP Paribas, Commerzbank and Bank J. Safra Sarasin are among the 289 companies and investors that have taken bold commitments and are investing in a cleaner future. More commitments will be announced during Climate Week NYC.