7-Eleven is the latest major U.S. company to make a commitment to 100% renewable power for its operations.
Seven & i Holdings Co., parent company of 7-Eleven, is joining RE100, a global initiative led by the non-profit Climate Group for leading businesses committed to climate action through renewable energy. Seven & i plans to make the transition to 100% renewable power by 2050.
A new RE100 report shows that the U.S. is home to the highest number of companies in the initiative, followed by the U.K. and Japan. Already 62% of the electricity sourced by members in the U.S. is from renewable energy sources, which is ahead of the global average of 41%.
“We welcome Seven & i Holdings to RE100,” said Amy Davidson, executive director, North America, Climate Group. “In addition to its global footprint, 7-Eleven is one of the top 25 largest retailers in the U.S., so it’s exciting to see them move in the right direction towards a clean energy transition.”
“2019 was one of the largest years for corporate solar investments, and despite COVID-19, businesses continue to switch to renewables – one of the most cost-effective investments companies can make.”
Also today, a new RE100 report shows that the U.S. is home to the highest number of companies in the initiative, followed by the U.K. and Japan. Already 62% of the electricity sourced by members in the U.S. is from renewable energy sources – ahead of the global average of 41%.
Power purchase agreements (PPAs), which allow companies to sign long-term contracts for renewable electricity at competitive prices, are on the up globally and particularly popular in the U.S. According to BloombergNEF, there have been 959 off-site corporate PPAs in the U.S. to date, totaling 43,170 MW megawatts).