The Climate Group’s RE100 initiative, representing large firms switching to using 100% renewable energy globally, has stood up to its name, reaching the 100-member milestone.
Our world will soon reach 9 billion people and renewable power needs to deliver, now more than ever. Initiatives in this sense are accelerating and businesses all over the globe are taking ambitious action towards creating a healthier and more sustainable world for the future.
Transitioning to renewable energy is regarded as a smart business decision, as it helps reduce emissions, manage energy costs better and provide energetic security. Leadership in the climate change arena also builds up reputation for companies, as long as they are accompanied by government policies boosting self-confidence and encouraging long-term investments.
RE100 is, in this sense, a global initiative of influential businesses that have dedicated themselves to using 100% renewable electricity. Significant effects such as accelerating the global energy market and transitioning towards a low-carbon economy are soon expected to be observed.
The project is remarkably complex, as the RE100 is prepared not only to address and overcome obstacles, but also to develop transparency in its reporting mechanisms. Companies also benefit from understanding the advantages of renewable energy, technical guidance and significantly greater public recognition.
RE100 was officially launched in 2014, at the NYC Climate Week. Today, RE100 brings together leading companies from all over the globe, ranging over numerous sectors, such as telecommunications, home furnishing, clothing, food, banking, insurance etc. The initiative now has 100 members, including huge global brands such as Google, Unilever, Tata Motors, Carlsberg, Burberry, Ikea or Apple.
The total revenue of the members is around $2.5 trillion, altogether creating 146 TWh in demand for renewable electricity annually. That is about the amount that is necessary to power Poland, it is argued. Each company has a certain target year by when it is supposed to complete the switch. For instance, Burberry pledged to procuring 100% of its energy from renewable sources in the next 5 years. Many of its stores, offices and warehouses are already being powered by on-site renewable resources or through renewable tariffs.
The campaign has surely been a huge success since its launch just 3 years ago, as the milestone of reaching 100 members was expected only around 2020. The work of The Climate Group is, however, much more complex than RE100. They have already established global successful initiatives seeking a government-led reduction of greenhouse gases (Under2 Coalition), a project regarding doubling energy productivity (EP100), as well as several others dealing with policy innovation, public lighting, and low-carbon economies.