Visa has announced a new commitment to use 100% renewable energy across its global operations by the end of 2019.
As part of this commitment, announced in conjunction with this week’s Climate Leadership Conference in Denver, Visa is joining the RE100 initiative, a collaborative, global platform developed by The Climate Group in partnership with CDP to increase corporate demand for renewable energy. Visa also is joining Rocky Mountain Institute’s Business Renewables Center and becoming a signatory to the Renewable Energy Buyers’ Principles, led by World Wildlife Fund.
To reach 100% renewable electricity by the end of 2019, Visa says it will pursue an approach that emphasizes “immediate action” across its global facilities portfolio. Today, an estimated 35% of Visa’s global electricity consumption comes from a mix of renewable energy sources such as solar, wind and hydropower.
Working with local utilities and competitive electricity market providers, Visa will seek impactful, local renewable electricity investments in markets in which the company has major facilities, including four locations in the U.S. and the U.K. that account for 80% of its global electricity use. Visa also will be transitioning the remainder of its footprint toward renewable electricity.
Visa says its commitment builds on the company’s focus on implementing efficiency initiatives that reduce energy use at its data centers and offices. The company has also achieved numerous environmental certifications of its facilities through initiatives such as the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) program. As of 2017, an estimated 67% of Visa’s global square footage has attained an environmental attribute certification, the company says.
“We are proud to play a role in driving the adoption of renewable energy,” comments Al Kelly, CEO of Visa Inc. “For Visa, this announcement is an example of our long-standing commitment to operate as a responsible, ethical and sustainable company while fostering economic growth.”