RE100 Companies Halfway Towards 100% Renewable Electricity Goals
Companies partaking in the RE100 campaign are, on average, halfway towards meeting their 100% renewable electricity goals.
This, according to the new RE100 annual report published by The Climate Group and CDP this week, which publishes the latest available data (which is from 2014) on 45 companies partaking in the RE100 campaign to commit to 100% renewable electricity. Specifically, the report shows that the retail sector of RE100 companies have switched over 10 GW to renewables, while those in the ICT sector are on average 64% of the way towards their 100% electricity goals.
The RE100 campaign predicts that its current group of 53 RE100 companies will reach an average of 80% renewable electricity by 2020.
“The good news is that RE100 companies in every sector have made progress towards their 100% goals – or in some cases, have already got there,” said Emily Farnworth, RE100 Campaign Director at The Climate Group. “The companies that have been able to make the switch more easily are those with smaller power requirements operating mainly in the US or Europe – where renewable electricity options are most readily accessible.
The report also identified a trend in IT companies that are building research labs and data centers and relying on Power Purchase Agreements and on-site generation. Many European companies are also making the most of opportunities to use Power Purchase Agreements for renewable energy directly from the grid.
“This report shows us that business corporations around the world are stepping up in making commitments to renewable energy and working with RE100 to drive forward a global market for renewable energy,” said Roberto Zanchi, Technical Manager, Renewable Energy at CDP. “By reporting to CDP on their transition to clean energy and the sharing of best practices, RE100 companies are demonstrating strong transparency and accountability which are essential in developing a vibrant, well-functioning market.”
The RE100 campaign has its own goals as well, and is planning the following tasks moving forward:
- Work with the Rocky Mountain Institute Business Renewables Center on aggregating demand for renewable power to enable more competitive rates;
- Encourage RE100 companies to sign up to the Corporate Renewable Energy Buyers’ Principles, led by WWF and World Resources Institute, to engage utilities in the US who are failing to respond to business demand for renewable power;
- Work with the World Business Council for Sustainable Development (WBCSD)’s Low Carbon Technology Partnership initiative on renewable power, to identify financing models to address risks associated with long term infrastructure investment;
- Work with IRENA to ensure the business community around the world is engaged in shaping the energy future, and as part of IRENA’s Coalition for Action to help raise awareness of the benefits of renewables.
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