Bloomberg commits to 100% renewable power by 2025

Financial data and media group Bloomberg LP has become the latest member of RE100 and has committed to using 100% renewable electricity by 2025.

RE100 is a collaborative initiative of leading businesses committed to 100% renewable power. It now includes 55 companies from around the world.

"RE100 convinced us that they had gathered a strong coalition of committed companies, dedicated to real outcomes," Curtis Ravenel, head of Bloomberg's sustainable business and finance team, said in a press announcement on Thursday.

The move is part of the company's sustainability efforts and comes ahead of the release of the 2015 Bloomberg Impact Report later this month.

A separate announcement on RE100's website says that while long committed to sustainability, Bloomberg was sourcing just 1% of its electricity from renewable energy in 2015. It is, however, making good progress on its target, set in 2013, of using 35% renewable electricity by 2020. The group expects to source 21% from renewables by the end of 2017.

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