Visa taps cheaper solar and wind to reach 100% renewable-electricity goal

Financial-services giant Visa says it has met its goal to use 100% renewable electricity by 2020 across its 131 offices in 76 countries and four global processing centers. Since setting the renewable goal in 2018, Visa V, +1.91% pursued a sustainable mix of renewable energy sources such as solar and wind. Globally, the average costs to generate electricity from solar photovoltaic and onshore wind both declined 13% year-on-year in 2018, according to the International Renewable Energy Agency.“At Visa, we see both a responsibility and an opportunity to make broad shifts toward a sustainable and inclusive future,” said Al Kelly, chief executive officer of Visa Inc., with the announcement out Wednesday. Visa made local renewable electricity investments in markets where the company has major facilities, including four locations in the U.S. and the U.K. that account for 80% of its global electricity use.