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RE100 Annual Report: Corporate Sourcing of Renewables Transforming Global Energy Economy

January 23, 2017

RE100 Annual Report: Corporate Sourcing of Renewables Transforming Global Energy Economy

January 23, 2017
by Sustainable Brands

Corporate sourcing of renewable electricity can be a major driver of the transition to a robust, zero-emissions economy, according to the RE100 Annual Report, released last week to coincide with the World Economic Forum Annual Meeting in Davos.

Launched in 2014, RE100 is a growing movement of some the world’s most influential companies committed to 100 percent renewable power, led by The Climate Group in partnership with CDP.

The annual report highlights the speed of the corporate transition to cleaner energy. Many RE100 members have set a 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.

Based on the latest available electricity consumption data (2015) from RE100 members, the report also found:

- Member companies (87 and growing) are now creating demand for approximately 107 TWh of renewable power annually, roughly 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;

- Roughly 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 REC 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);

- Roughly 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);

- Of the 34 RE100 members reporting self-generation onsite at their facilities, wind and solar PV were by far the most popular technologies.

- Within the membership, Telecommunication Services is the closest sector to reaching 100 percent renewable electricity (97 percent in 2015).

Read more at Sustainable Brands.

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