Unilever likely to use only renewable energy by 2030

Unilever was among 81 companies that have signed up to set emission targets for their businesses

Consumer goods maker Hindustan Unilever Ltd. said it would switch to using only renewable energy by 2030, and would stop using energy from coal by 2020, as businesses jostle to highlight their green credentials ahead of a global climate summit.

Unilever was among 81 companies, along with competitors Nestle and Procter and Gamble, that have signed up to set emission targets for their businesses with the aim of limiting global warming to less than 2 degrees Celsius.

Unilever Chief Executive Paul Polman said, "If we don't tackle climate change we won't achieve economic growth. This is an issue for all businesses, not just Unilever. We all have to act."

Unilever said it wants all the electricity it buys from the grid to come from renewable sources by 2020 and will seek to support renewable energy generation, so by 2030 it can make a surplus available to markets and communities where it operates.

Unilever says it has saved over 400 million euros ($424 million) through eco-friendly measures taken at its factories since 2008, and says its brands that most fully embrace sustainability - such as Dove, Lifebuoy, Ben & Jerry's and Comfort - perform the best.