RE100: Business demand for renewables greater than total energy demand of major G7 economies.
RE100 companies, committed to going 100% renewable, now have bigger electricity demand than either the UK or Italy.
The influence of business in the drive to clean energy globally has reached a major threshold as big business buyers increasingly abandon fossil fuels; the Climate Group reveals today.
Figures from Climate Group and CDP, the international non-profit groups which run RE100 - the coalition of major businesses committed to purchasing 100% renewable electricity- show that demand for renewable electricity is now greater than that of the UK.
Together, RE100 members have a combined demand for renewable electricity of 334 TWh – more than the 326TWh used to power the whole of the UK last year – and are set to save CO2 emissions equivalent to the burning of more than 118 million tonnes of coal per year.*
Sam Kimmins, Head of RE100, Climate Group, said: “Business demand for renewable electricity is racing past that of G7 countries, because it makes business sense as well as environmental sense. But many hundreds more, big corporates are yet to take this relatively easy step towards net zero carbon. To meet global climate targets, and to remain competitive in a world driven by cheap, clean electricity, it quickly needs to become the norm to power your business with renewables."
"Governments must do more too. In many countries, from the EU to Asia, there are barriers to fulfilling the corporate appetite for clean power. Which is bizarre as business investment makes it easier to meet national targets and drives green growth and jobs."
Since its launch seven years ago, more than 310 companies have joined RE100, covering a diverse range of sectors and markets - from food and fashion to brewing and batteries – as they commit to driving down emissions fast. Collectively, these companies have a combined revenue of more than $6.6trillion, over 7% of global GDP.
Gabrielle Ginér, Head of Environmental Sustainability at BT, said: “As one of the first members of RE100, it’s great to see how the initiative has grown over the years. RE100 has demonstrated the power of collaboration – bringing businesses and organisations together to send market demand signals for sustainable solutions. At BT, we’re now purchasing 100% renewable electricity worldwide and we’re urging others to do the same.”
25 June 2021