New Balance – Elliott Engelmann – 2019

Goals 

New Balance, a global athletic footwear and apparel company, enlisted EDF Climate Corps fellow Elliott Engelmann to help them craft a strategy to fulfill their renewable energy goals. As part of the RE100 initiative, New Balance committed to sourcing 100% of their global electricity load from renewable energy sources by 2025. Elliott’s work was to evaluate their options and recommend a path forward that meets the company’s RE100 goals, while considering cost, impact, and feasibility.

Solutions

Engelmann compiled energy data from all New Balance owned and operated factories, distribution centers, offices, and retail stores around the world to determine global electricity consumption. Elliott evaluated purchasing options in different regions, including Energy Attribute Certificates (EACs) in all markets, green utility power programs, onsite renewables, and offsite Virtual Power Purchase Agreements (VPPAs) in the United States.

Potential Impact

Engelmann’s recommendations provide a path forward for New Balance to meet its RE100 goals by 2025. Elliott recommended a portfolio approach, utilizing EACs to build from an existing REC program, strategic onsite solar opportunities, and utility programs in the near term, while further exploring opportunities for a VPPA for the bulk of New Balance’s U.S. electricity load. The immediate focus is on the U.S. and Europe while Asia options continue to develop and mature over the next few years.