Gap Inc. Signs Renewable Energy Agreement to Achieve 2020 Goal

Gap Inc. Signs Renewable Energy Agreement to Achieve 2020 Goal

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.@Gap Inc., as advised by @SchneiderElec, announced it has signed a 90 Megawatt virtual power purchase agreement (#VPPA), marking one of the largest offsite #renewableenergy contracts by an apparel retailer. #LifeIsOn http://bit.ly/2MLLnRZ
Monday, August 26, 2019 - 5:25pm

Global apparel retailer Gap Inc. (NYSE: GPS) announced that it has signed a 90 Megawatt (MW) virtual power purchase agreement (VPPA) for the Aurora Wind Project with Enel Green Power North America, marking one of the largest offsite renewable energy contracts by an apparel retailer. The 12-year agreement is Gap Inc.’s latest renewable energy deal and will enable the company to reach its 2020 goal to reduce absolute Scope 1 and 2 greenhouse gas (GHG) emissions for its owned and operated facilities by 50 percent compared to 2015. The company also announced it has set a goal to reach 100 percent renewable energy across its global owned and operated facilities by 2030.

 

“We have a responsibility to reduce our climate impact. For Gap Inc., being a part of the climate solution means making strategic investments in clean energy generation."

"Today we have secured a path to achieving our 2020 goal, but we must do more. I’m proud to commit to renewable energy for 100 percent of our stores, headquarters and distribution centers globally by 2030,” said Art Peck, president and chief executive officer, Gap Inc.

Read the full article on the Schneider Electric Perspectives blog.

CATEGORY: Energy