Clorox Achieves Goal of 100% Renewable Electricity for U.S. and Canada

Rhea-AI Summary

The Clorox Company (NYSE: CLX) has achieved its goal of 100% renewable electricity for its U.S. and Canadian operations, four years ahead of schedule. This initiative is part of Clorox's ESG commitments, demonstrating its dedication to climate stewardship. The company will continue this commitment through a 12-year virtual power purchase agreement, ensuring a purchase of 70 MW of renewable energy annually. This transition is projected to reduce CO2 emissions by approximately 180,000 metric tons each year, equivalent to the annual impact of 235,000 acres of U.S. forest.

Positive

• Achieved 100% renewable electricity goal for U.S. and Canada four years early.
• Plans to maintain renewable energy commitment through a 12-year virtual power purchase agreement.
• Estimated annual CO2 emission reduction of approximately 180,000 metric tons.

Negative

• None.

OAKLAND, Calif., Jan. 25, 2021 /PRNewswire/ -- The Clorox Company (NYSE:CLX) announced today that it has achieved its goal of 100% renewable electricity for its U.S. and Canadian operations four years earlier than originally planned. One of Clorox's ESG (environmental, social and governance) goals, achieving 100% renewable electricity for U.S. and Canada reflects the company's long-time commitment to climate stewardship.

"At Clorox, we feel a sense of urgency to address climate change given current warming trends resulting in significant impacts on our planet and global communities," said Ed Huber, Clorox's Chief Sustainability Officer. "As a society, we're at a pivotal point, with the health and well-being of future generations at stake. We recognize businesses play an important role in driving needed progress, and Clorox is committed to doing our part."

Moving forward, Clorox will maintain its renewable electricity goal through a virtual power purchase agreement (VPPA) and other market purchases of renewable energy credits (RECs). The VPPA is a 12-year commitment to purchase 70 MW of renewable energy annually from Enel Green Power's Roadrunner solar project in Texas. The Roadrunner solar plant began operating in 2020 as the largest solar plant in Texas.

Based on Clorox's historical electricity consumption, these renewable energy purchases are estimated to avoid approximately 180,000 metric tons of CO2 emissions each year. This is equivalent to the annual impact that 235,000 acres of U.S. forest can have in removing CO2 from the atmosphere, or the carbon impact of the electricity needed to power 30,000 U.S. homes annually.¹

Clorox was advised by Schneider Electric Energy & Sustainability Services on the VPPA and additional REC purchases.

Clorox's renewable electricity goal is one of the ESG commitments made as part of its corporate strategy called IGNITE. More information about Clorox's IGNITE ESG goals, including a commitment to setting and achieving science-based targets for greenhouse gas emissions for operations and supply chain, can be found here.

The Clorox Company

The Clorox Company (NYSE: CLX) is a leading multinational manufacturer and marketer of consumer and professional products with about 8,800 employees worldwide and fiscal year 2020 sales of $6.7 billion. Clorox markets some of the most trusted and recognized consumer brand names, including its namesake bleach and cleaning products; Pine-Sol^® cleaners; Liquid-Plumr^® clog removers; Poett^® home care products; Fresh Step^® cat litter; Glad^® bags and wraps; Kingsford^® charcoal; Hidden Valley^® dressings and sauces; Brita^® water-filtration products; Burt's Bees^® natural personal care products; and RenewLife^®, Rainbow Light^®, Natural Vitality Calm™, NeoCell^® and Stop Aging Now® vitamins, minerals and supplements. The company also markets industry-leading products and technologies for professional customers, including those sold under the CloroxPro™ and Clorox Healthcare^® brand names. More than 80% of the company's sales are generated from brands that hold the No. 1 or No. 2 market share positions in their categories.

Clorox is a signatory of the United Nations Global Compact and the Ellen MacArthur Foundation's New Plastics Economy Global Commitment. The company has been broadly recognized for its corporate responsibility efforts, named to the 2020 Axios Harris Poll 100 reputation rankings, Barron's 2020 100 Most Sustainable Companies list, and the Human Rights Campaign's 2020 Corporate Equality Index, among others. In support of its communities, The Clorox Company and its foundations contributed more than $25 million in combined cash grants, product donations and cause marketing in fiscal year 2020. For more information, visit TheCloroxCompany.com, including the Good Growth blog, and follow the company on Twitter at @CloroxCo.

CLX-C

¹ Emissions equivalencies calculated using The U.S. EPA Greenhouse Gas Equivalencies Calculator, which is based on national averages and can be found at https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator

 

View original content to download multimedia:http://www.prnewswire.com/news-releases/clorox-achieves-goal-of-100-renewable-electricity-for-us-and-canada-301213397.html

SOURCE The Clorox Company

FAQ

What did Clorox announce on January 25, 2021?

Clorox announced it achieved its goal of 100% renewable electricity for its U.S. and Canadian operations.

How does Clorox plan to maintain its renewable electricity goal?

Clorox will maintain its goal through a virtual power purchase agreement and additional renewables market purchases.

What is the impact of Clorox's renewable energy initiative?

The initiative is estimated to avoid approximately 180,000 metric tons of CO2 emissions annually.

What is the significance of Clorox's renewable energy achievement?

It reflects Clorox's commitment to climate stewardship and aligns with its ESG goals.

Which solar project is involved in Clorox's renewable energy commitment?

Clorox's commitment includes a 12-year agreement with Enel Green Power's Roadrunner solar project in Texas.