Companies Committed To RE100 Reshaping Global Energy Market & Accelerating Zero-Emissions Economy
Companies that have committed to the RE100 renewable energy campaign now number 122, and together are reshaping the global energy market through their investment decisions and helping to accelerate a zero-emissions economy.
RE100 — the global campaign led by The Climate Group and CDP that is intended to support and facilitate companies’ renewable energy commitments — published a new report which tracks the progress made between 2016 and 2017 by companies that have committed to 100% renewable energy. In total there are now 122 members of RE100 which operate in 122 countries and average 1.3 times more renewables in their electricity mix than the global rate of renewable electricity use. Collective electricity demand for these companies is more than 159 terawatt-hours per year (TWh/year), a 49% increase on last year’s membership — which highlights the need for companies to own up to their share of responsibilities.
“I’d like to congratulate every RE100 member accelerating the roll-out of renewable energy through their investment decisions,” said Helen Clarkson, Chief Executive Officer, The Climate Group. “Their leadership is vital for overcoming policy challenges, shifting global markets, and inspiring many more companies to reap the economic benefits of renewable electricity. Rapidly growing demand from world-leading RE100 companies — and increasingly their suppliers and peers — means governments can confidently look to ratchet up targets in 2020 for slashing greenhouse emissions, to deliver on the Paris Agreement.”
In total, 25 companies committed to RE100 had reached 100% renewable electricity by the end of 2016, and on average RE100 companies are sourcing 32% of their electricity from renewables — highlighting both the tremendous achievements already made and the long road to go.
“CDP data shows a jump in renewable energy procurement and that motivations are not only environmental but economic,” added Paul Simpson, Chief Executive Officer, CDP. “With nearly 90% of companies driven by the economic case for renewables, this demonstrates a fast approaching tipping point in the transition to a zero-carbon economy. These companies prove that energy is becoming a board level issue across the globe and sustainability is essential for future business security. Now, it’s time to tip the balance and make 100% renewable the new normal.”
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