Business Energy Broker
The RE100 initiative demonstrates their influence, commitment and contribution towards reducing carbon emissions by recording energy demands that surpass G7 countries.
The RE100 is a Climate Group led initiative that aims to accelerate the progress to zero-carbon grids by working with the most influential businesses to make a 100% renewable energy transition. Businesses within the commercial and industrial sectors account for almost 50% of global end-use energy. By targeting these businesses the RE100 can make a significant global climate change impact.
Since its launch in 2014, the initiative has surged with expansions across the world as more businesses look to contribute to net-zero efforts. Businesses across Africa, North and South America, Australia, Asia and Europe receive support from the group to develop and challenge policies to source their renewable energy at reasonable costs.
Members within the RE100 have grown their demand for 100% renewable energy by 20% in 8 months. The initiative has a total demand of 334 TWh which exceeds that of the UK at 326TWh recorded in 2020. Even so, the UK is the 3rd largest country for RE100 businesses and has the fastest progressing members.
This marks a significant milestone for the initiative following an increase of large businesses committing to renewables and removing fossil fuel consumption. They are also set to save the equivalent emissions of burning 118 million tons of coal per year.
COP26 President, Alok Sharma, said:
“The rapid growth of RE100 demonstrates that businesses around the world support bold climate ambition. We urge more companies to join RE100 ahead of COP26, and for governments to respond to this growing market demand for 100% clean energy.”
Although the demand of the over 310 businesses that make up the RE100 is overtaking some of the largest and influential countries, many more are urged to join the initiative and make a contribution to a clean future in energy. It will provide mutual gains as we will meet climate targets set across the world while keeping costs competitive.
However, Governments in many counties are yet to adopt policies and remove barriers which affect business from procuring 100% renewable energy. By doing so, the business investments driven by the changes will accelerate the progress to carbon-reducing targets and build a greener economy.