Corporate sourcing of renewable energy can be a major driver of the transition to a robust, zero-emissions economy, according to a new report released by RE100 at Davos.
The release coincides with the World Economic Forum Annual Meeting in Davos.
The report has found the following:
- Around a tenth of RE100 electricity use being reported in India is from renewables (0.1 TWh in 2015, with Power Purchasing Agreements (PPAs) being the most popular approach that year, followed by on-site generation).
- Member companies (87 and growing) are now creating demand for approximately 107 TWh of renewable power annually; around the same amount of electricity as consumed by The Netherlands.
- Members making fastest progress towards their 100 percent renewable electricity targets include Goldman Sachs, which jumped from 14 percent renewable electricity in 2014 to 86 percent in 2015; Elopak, which went from 18 percent to 86 percent renewable during the same year; and H&M, which went from 27 percent to 78 percent.
- Within the membership, Telecommunication Services is the closest sector to reaching 100 percent renewable electricity (97 percent in 2015).
- Around half of the electricity being consumed by members reporting electricity use in the U.S. is from renewables, accounting for the highest amount of renewable electricity being sourced in any country worldwide (6.8 TWh in 2015, with unbundled renewable energy attribute certificate purchases (RECs) being the most popular approach that year).
- Almost all of electricity usage reported by members in Europe is from renewables (14.4 TWh in 2015, with an even split between unbundled renewable energy attribute certificate purchases and green tariffs as the most popular approaches that year).
- Nearly a quarter of the electricity usage reported by members in China is from renewables (0.4 TWh in 2015, with unbundled renewable energy attribute certificate purchases being the most popular approach that year).
- Of the 34 RE100 members reporting the use of self-generation on-site at their facilities, wind and solar PV were by far the most popular technologies.
RE100, the global, collaborative initiative of the world’s most influential companies committed to 100 percent renewable power, led by The Climate Group in partnership with CDP.
Many RE100 members have set an end goal for achieving 100 percent renewable electricity before 2024, and 11 members already achieved 100 percent renewable electricity prior to 2015 – sending a clear market signal to governments and investors around the world that growing demand for renewable energy must be met sooner rather than later.
Damian Ryan, Acting CEO of The Climate Group, said, “In order to deliver on the Paris Agreement and keep global warming well below two degrees, we need governments to remove policy barriers and create investment incentives that can provide easier access to renewable energy. And we need more business leaders to influence the usage of renewable power right along their supply chains.”
Also today, coinciding with the 2017 RE100 Annual Report launch, three major European businesses have joined the campaign; Danske Bank Group, Gatwick Airport and Royal Philips, with a commitment to 100 percent renewable electricity across their global operations.
Source: The Climate Group