Renewable Energy Demand from Ambitious Multinational Companies Helping to Achieve Paris Climate Agreement Goals

Nov 21, 2018 8:35 AM ET

A dramatic upsurge in demand for renewable energy from ambitious multinational companies is now shifting markets away from fossil fuels in more than 140 markets worldwide, a new RE100 report reveals. RE100 is the corporate leadership initiative led by The Climate Group in partnership with CDP, bringing together the world’s most influential businesses committed to 100% renewable power.

Identifying Japan, Australia, Mexico, Turkey and Taiwan as growth hotspots, the RE100 Progress and Insights Annual Report “Moving To Truly Global Impact” shows a 41% increase in renewable electricity sourced by RE100 companies in 2017, compared to 2016. With the falling cost of renewables strengthening the business case for switching, 37 companies are already over 95% renewable, and six members reached their 100% goal for the first time. Schneider Electric is one of these companies who has committed to being powered by 80% renewables across all facilities by 2020 and 100% by 2030.

RE100 now has 155 members with a total electricity demand greater than Argentina and Portugal combined – 188 TWh per year. If RE100 were a country, it would have the 23rd largest electricity consumption in the world. With a combined revenue of US$4.5 trillion – 5% of global GDP – the companies represent a major source of finance for clean energy infrastructure.

Today’s RE100 report comes ahead of a major event in Amsterdam on November 20-21, bringing together renewable energy buyers and sellers. Organized by SolarPower Europe and WindEurope together with The Climate Group and CDP (RE100) and WBCSD, RE-Source 2018 is Europe’s premier PPA event, demonstrating the potential to expand corporate sourcing of renewables into new markets and industries. Schneider Electric will also be participating at the event providing advice and help to corporates for their renewable energy strategy. Xavier Houot, Senior Vice President for Safety, Environment & Real Estate will also be speaking on 21st November 2018 on how making the switch to clean energy can also make good business sense.

Want to learn more?

Click here to learn more about effective resource utilization can be beneficial to companies: