The leading Chinese air conditioning manufacturer and sustainable building company BROAD Group has become the second Chinese company to join RE100, making a commitment to source 100% of its electricity from renewable sources by 2025.
BROAD Group announced its move at the first International Forum on Energy Transitions in Suzhou City, China, where discussions on the global energy transition and China’s energy revolution have been taking place.
BROAD Group’s RE100 commitment sends a clear signal to China’s energy market that there is rising corporate demand for renewable electricity. It also indicates to world governments soon meeting at crucial UN climate talks in Paris that business backs renewable energy.
From left to right: Zhang Xiaodong, Vice President of BROAD Group; Li Junfeng, Director General of National Center of Climate Change Strategy Research - National Development and Reform Commission; and Changhua Wu, Greater China Director of The Climate Group.
BROAD Group is making the commitment as part of the We Mean Business coalition and has set a total of four targets to take action against climate change. Alongside transitioning its operations to be 100% powered by renewable electricity by 2025, the company has committed to adopting a science based target to cut operational emissions by 50% from 2015 levels, putting a price on carbon and demonstrating responsible corporate engagement in a consistent climate policy.
Speaking in front of energy leaders from governments, businesses and the scientific community, Zhang Yue, CEO of BROAD Group said: “As a major manufacturer we recognise the role we can play in driving forward the energy revolution – and we are seizing it. Investing in sustainable building, CHP and renewables will contribute to the transformation of the energy market while helping us deliver on our climate goals.”
Mark Kenber, CEO of The Climate Group, which leads RE100 in partnership with CDP, said: “The IEA says over 65% of our electricity must come from renewables by 2050 to avoid dangerous climate change. With the private sector accounting for more than half of global demand, it is that clear businesses must be change-makers.
“The more companies that join RE100, the higher the demand and the greater the deployment – and the more the cost of renewables comes down.”
BROAD GROUP is the 40th company to join RE100, having attended a workshop held by China RE100, a capacity building program designed to increase business ambitions for using renewable electricity in China. Green desert developer Elion Resources Group was the first Chinese company to join RE100, earlier this year.
China is already the largest investor in the renewable energy market worldwide. The commitments these companies are making shows that businesses are recognizing huge investment opportunities from renewables in China’s growth economy.
RE100 now has 40 corporate partners: Alstria, Autodesk, Aviva, BROAD Group, BT Group, Commerzbank, DSM, Elion Resources Group, Formula E, Givaudan, Goldman Sachs, H&M, IKEA Group, Infosys, J. Safra Sarasin, Johnson & Johnson, Kingspan, KPN, La Poste, Land Securities, Marks & Spencer, Mars Incorporated, Nestlé, Nike, Inc., Philips, Procter & Gamble, Proximus, RELX Group, Salesforce, SAP, SGS, Starbucks, Steelcase, Swiss RE, UBS, Unilever, Vaisala, Voya Financial, Walmart and YOOX Group.