NativeEnergy announced today the launch of a renewable energy portfolio, for the first time creating a mechanism for leading companies to be certain their purchase of renewable energy credits helps to build more new community scale renewable energy projects across North America.
Ethical beauty brand Lush Cosmetics, an early investor in the portfolio, was quickly joined by Clif Bar and Lime Bikes. Together with these and other leaders the portfolio aims to surpass two hundred thousand megawatt hours in new renewable energy generation before 2025.
“When setting our renewable energy goal, we searched extensively for a way to make a difference on the ground, by driving the deployment of new renewable projects. Taking an early role with NativeEnergy ensured we could do that,” says Lush Sustainability Analyst Richard Outhwaite. “An additional win for us was their pollinator-friendly design, which supports our work with organisations like Hives for Humanity. We are thrilled to see the portfolio launch and are excited to help exceed the performance goals.”
The portfolio provides critical upfront financing to projects that are stalled in their development because revenue from commodity REC sales is no longer enough to secure financing. The focus is small, community scale projects that bring economic value to residents and environmental benefits to local ecosystems. To balance the cost of funding such projects, the portfolio also purchases credits from existing renewable energy projects, but only those that pass financial additionality requirements – the high bar set for carbon projects but not required of commodity REC projects.
“Purchasing commodity RECs, in today’s market, does not drive the construction of new projects,” says NativeEnergy President Jeff Bernicke. “For this reason companies with ambitious goals for renewable energy and scope two emissions are actively seeking an alternative. They want to make an impact and know their actions add more new renewable energy to the grid.”
As Clif Bar & Company’s Elysa Hammond, Vice President of Environmental Stewardship, explains, Clif Bar “invested in rooftop solar at our headquarters in California and we have just announced a new two megawatt solar project at our Idaho bakery. When we don’t have the option to build onsite, we want to purchase credits that we know help to bring new projects online that benefit communities near our operations.”
At Lime “we are now leading the way in sustainable micro-mobility by meeting our goal of charging our entire scooter and e-bike fleet with 100% renewable energy. Through our new Lime Green program, we are investing in new renewable energy products. Our goal with NativeEnergy is not simply relying on the capacity of existing renewables, but actively working to expand them,” says Lime Vice President and Head of Sustainability Andrew Savage.
The portfolio structure maintains the simplicity of REC purchasing while adding the impact and tangible result of driving new projects. The portfolio delivers RECs on an annual basis in accordance with Green-e Energy certification and in compliance with LEED, the Environmental Protection Agency’s Green Power Partnership, Cradle-to-Cradle certification, the Science Based Targets Initiative and other programs.
“We are aiming to build a portfolio that surpasses a total one million MWh and we are excited to have Lush, Clif and Lime on board,” announces NativeEnergy’s Director of Strategy, Kevin Hackett. “Aggregating their demand with other leading companies means each renewable energy commitment plays a causal role in bringing new projects online.”
“We believe the portfolio continues our eighteen-year track record helping brands turn their sustainability goals into measurable results. It’s launch is well timed to our new status as a Public Benefit Corporation,” says Jennifer Cooper, Vice President of Strategy with NativeEnergy.
For information on NativeEnergy, visit www.nativeenergy.com/our-approach/renewable-energy/build-new-renewables/
Vermont-based NativeEnergy, a Public Benefit Corporation, is a leading expert and provider of innovative programs that eliminate ecological impacts and contribute to the common good. Developed in conjunction with its corporate partners, the company’s Help Build™ projects create uniquely brand-relevant national and international wind, water, biogas, solar, and other renewable energy and clean water initiatives that help those partners reduce carbon footprints, build supplier resilience, bring substantial social and environmental benefits to needful communities, and build a future that benefits all. Learn more at www.nativeenergy.com.
About Lush Cosmetics
Lush Cosmetics are purveyors of good, clean fun. We offer luxurious and ethical skincare, haircare and bath products, as well as unique gifts filled with fragrant and effective products.
2018 marks Lush’s 23rd anniversary of creating innovative cosmetics using fresh fruits and vegetables, the finest essential oils and ingredients that are ethically and sustainably sourced. Lush campaigns on animal protection, human rights and environmental conservation because it’s the right thing to do. With over 250 shops in North America and 930 shops worldwide, Lush is in a unique position to raise awareness on serious issues and bring about real change.
Never tested on animals, every single Lush product is vegetarian, and about 85 percent are vegan, 40 percent preservative-free and 35 percent unpackaged. Lush supports Fair Trade, Community Trade and charitable initiatives, and follows the simple policy: have the least possible impact on the environment while still producing beautiful and effective products.
About Clif Bar & Company
Clif Bar & Company crafts nutritious and organic food to feed and inspire adventure, including the CLIF® BAR® energy bar; CLIF Kid®, Nourishing Kids in Motion® and LUNA®; The Whole Nutrition Bar. Family and employee-owned, the company is committed to sustaining its people, brands, business, community and the planet. For more information on Clif Bar & Company, please visit www.clifbar.com, check out our Facebook page and follow us on Twitter or Instagram.
About Lime Bikes
Smart Mobility for the Modern World. Lime is founded on the simple idea that all communities deserve access to smart, affordable mobility. Through the equitable distribution of shared scooters, bikes and transit vehicles, we aim to reduce dependence on personal automobiles for short distance transportation and leave future generations with a cleaner, healthier planet. For more information on Lime, please visit www.li.me and www.li.me/lime-green.
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