RE100 companies need better renewable electricity options from national governments, shows latest report
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RE100 companies need better renewable electricity options from national governments, shows latest report

13 January 2022
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6 min.
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RE100 companies need better renewable electricity options from national governments, shows latest report

Governments need to significantly improve renewable electricity procurement options and reduce regulatory hurdles that are stopping businesses from transitioning to net-zero. This is according to the latest findings from RE100’s annual disclosure report 2021.

Limited, or no availability of renewable electricity (reported by 40 members in 66 markets), lack of procurement opportunities (reported by 37 members in 111 markets), and prohibitive cost (reported by 27 members in 41 markets) were the top three challenges members faced procuring renewable electricity. For the world to progress to net-zero and minimize the effects of climate change, it is essential that businesses and governments work in tandem with one another to ensure that barriers cited in this report are reduced.

Again, Asia most frequently presents barriers to sourcing experienced by members. 27 members cited barriers in the Republic of Korea, with 24 citing them in Japan and 22 citing them in China. In the 2020 report, high cost of renewables, poor corporate procurement options and limited availability of renewables were all prevalent barriers. Unsurprisingly, members operating in traditionally fossil fuel-reliant countries such as Australia, Russia and Saudi Arabia cited barriers like lack of procurement options and cost.

Despite these challenges, the latest report finds that RE100’s membership has seen its biggest yearly growth in Asia-Pacific, where 36 new members are headquartered – equalling 62% of its new membership. RE100 now has 102 members in Asia-Pacific, up from less than 10 in 2016, demonstrating the growing appetite from businesses in the region to adopt 100% renewable electricity.

RE100’s membership now consumes more electricity than the UK, the 12th highest emitting country, and the 349-strong initiative continues to grow. With businesses accounting for half of global greenhouse gas emissions from power generation, it is vital challenges in reaching 100% renewable electricity are overcome, so willing companies can progress to net-zero.

RE100 members are continuing to increase their use of impactful procurement methods such as Power Purchase Agreements (PPAs). Members reported sourcing 42 TWh of renewable electricity using Power Purchase Agreements, or 28% of their total sourcing of renewable electricity. This is an increase from 26% in 2020.

In 2021, RE100 asked its members for the first time to disclose the commissioning dates of the facilities they purchased renewable electricity from, giving the initiative further insight into impactful procurement. Where data is available, there are strong trends that members procuring using PPAs are procuring from facilities less than two years old. RE100 members procuring using PPAs are likely directly responsible for capacity additions of renewable electricity in the markets in which they operate.

RE100 is a joint initiative between CDP and Climate Group bringing together hundreds of large businesses with the ambition of reaching 100% renewable electricity.

Andrew Glumac, Senior Manager, Renewable Energy at CDP:

"The goal of RE100 is to accelerate the transition to renewable electricity and it is fantastic to see a continued increase in members who share this vision. We urge more companies to commit to 100% renewable electricity and to source in impactful ways that shift the grid mix. Our growing membership, especially our increased presence in Asia, creates a stronger voice for RE100 to influence policy and ease the path for organizations transitioning to renewable electricity. We look forward to another year of growing membership and encourage businesses to join RE100".

Sam Kimmins, Head of RE100, Climate Group:

"The findings from the report demonstrate a clear signal to governments that corporates are investing at scale in renewable electricity, not just in Europe and North America but in the Asia-Pacific region as well. While there is more that needs to be done, and faster, the year-on-year improvements shown by our members' data are encouraging confirmation that corporate demand for renewables is gaining pace".

For more information, or an interview, please contact:

Maddy Bravery, CDP – maddy.bravery@CDP.net
Nick Ringrow, Climate Group - nringrow@climategroup.org
Josh Hoppen, ESG communications – josh@esgcomms.com

About CDP

CDP is a global non-profit that runs the world’s environmental disclosure system for companies, cities, states and regions. Founded in 2000 and working with more than 590 investors with over $110 trillion in assets, CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts, and to reduce greenhouse gas emissions, safeguard water resources and protect forests. Over 14,000 organizations around the world disclosed data through CDP in 2021, including more than 13,000 companies worth over 64% of global market capitalization, and over 1,100 cities, states and regions. Fully TCFD aligned, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. CDP is a founding member of the Science Based Targets initiative, We Mean Business Coalition, The Investor Agenda and the Net Zero Asset Managers initiative. Visit cdp.net or follow us @CDP to find out more.

About Climate Group

Climate Group drives climate action. Fast. Our goal is a world of net zero carbon emissions by 2050, with greater prosperity for all. We focus on systems with the highest emissions and where our networks have the greatest opportunity to drive change. We do this by building large and influential networks and holding organisations accountable, turning their commitments into action. We share what we achieve together to show more organisations what they could do. We are an international non-profit organisation, founded in 2004, with offices in London, New Delhi and New York. We are proud to be part of the We Mean Business coalition. Follow us on Twitter @ClimateGroup.

About RE100

RE100 is a global initiative bringing together the world’s most influential businesses committed to 100% renewable power. Led by international non-profit the Climate Group in partnership with CDP, the group have a total revenue of over US$6.6 trillion and operate in a diverse range of sectors. Together, they send a powerful signal to policymakers and investors to accelerate the transition to a clean economy. #RE100

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