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Visa just made a huge commitment on renewable electricity

  • Visa wants to use 100 percent renewable electricity across global operations by the end of next year.
  • Payments giant has also joined the RE100, a group of businesses committed to renewable power.
Joan Cros | NurPhoto | Getty Images

Visa has pledged to use 100 percent renewable electricity across global operations by the end of 2019.

The payments giant has also joined the RE100, a global initiative of some of the world's biggest businesses, all committed to renewable power.

The RE100 is headed up by the Climate Group in partnership with the CDP, previously known as the Carbon Disclosure Project. Other members of the RE100 include Apple, HSBC, Microsoft and Tetra Pak.

"We are proud to play a role in driving the adoption of renewable energy," Al Kelly, Visa's CEO, said in a statement Wednesday. "For Visa, this announcement is an example of our longstanding commitment to operate as a responsible, ethical and sustainable company, while fostering economic growth."

Visa is undertaking a range of initiatives to boost its environmental credentials. These include a composting and recycling program and the use of efficient lighting. The business is also trying to mitigate its transportation impact through the use of public transport subsidies, employee shuttles and virtual meetings.

The past few years have seen a number of big companies launch projects and plans in the field of renewable energy. In October, for instance, Amazon announced that its biggest wind farm to date was operational. The business said that Amazon Wind Farm Texas, which is located in Scurry County, would add over 1 million megawatt hours of clean energy to the grid annually.