The 53 companies that have signed up to the RE100 pledge to source 100% renewable energy are on average, halfway to their goals, a new report by The Climate Group and CDP shows.

The latest available data (from 2014) shows that those in the retail sector have switched the largest amount of electricity to renewables (almost 11TWh), while those in the ICT sector are closest to their 100% renewable electricity goals, using 64% renewable energy on average.

RE100 projects that the current group of 53 signatories 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  RE100 Campaign Director at The Climate Group Emily Farnworth.

“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.”

Global reach

When all 53 RE100 companies are 100% powered by renewables, they would create enough renewable electricity demand to power Hong Kong and Singapore combined, RE100 said.

“Today’s report shows they are well on their way,” said Farnsworth. “Of course we need to carry on growing the campaign and get more and more companies committed to 100% renewable electricity. Following on from the success of COP21 in Paris, business has a real opportunity to support the transition to renewable power and help deliver major carbon cuts.”

Among the current initiative members, RE100 said that IT companies were using onsite generation and green power purchasing agreements to fund new new research labs and data centre, while European companies were more likely to purchase green power directly from the grid.

CDP’s renewable energy technical manager Roberto Zanchi said: “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. 

“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."

Scale-up

RE100 said it plans to help its members increase the pace of their transition to renewables through a series of knowledge-sharing workshops and webinars.

It also plans to encourage members 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

Finally, RE100 said it will 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.

Edie.net