The march towards 100 per cent renewable electricity among global corporates continues apace, with the RE100 campaign today reporting significant increases in the proportion of clean energy sourced by its members in 2016-17. The non-profit initiative, which calls on businesses to commit to sourcing 100 per cent of their electricity from renewables, said its members were now “reshaping the energy market through their global investment decisions and accelerating a zero emissions economy”. RE100’s annual report shows the proportion of renewable electricity sourced via corporate power purchase agreement (PPAs) – through which companies buy electricity directly from producers at a pre-agreed price – among its global membership grew fourfold in 2016-17. The quantity of electricity sourced by member companies from onsite generation also increased fifteen-fold through supplied-owned projects and nine-fold through member-owned projects over the course of the year, according to RE100. An overwhelming 88 per cent of members responding to the report cited the compelling economic case for renewable electricity as the main driver for upping their ambition, with 30 out of 74 reporting that renewables were already either cost competitive or delivering significant savings on their energy bills. The highest proportion of renewables sourced in 2016 was in the European market, which made up 61 per cent of total renewable energy consumption among RE100 members, with green electricity contracts with suppliers the preferred option among these companies. Three companies in Europe also achieved their RE100 target in 2016 – Elopak Inc, Marks & Spencer and Sky plc – adding to a list that already included Crédit Agricole and Commerzbank, which both continued to source 100 per cent of their power from renewables last year in France and Germany respectively.
Business Green 23rd Jan 2018 read more »