Wednesday, June 8, 2016

The New RE100 Initiative: 1000 Businesses 100% Renewable

A RE100 initiative is calling on governments to convince one thousand businesses to pledge that they will get all of their energy from renewable sources.  One thousand companies generate roughly 1,000Mt of carbon each year. If these companies switch to renewables, it would reduce global electricity-generated carbon emissions by 10 percent or 3 percent of total global emissions.

A new group of businesses has recently joined the rapidly growing movement. This includes companies like Interface, the iconic early adopter of sustainability. Other companies that have come on-board are Aegis Network, Dentsu, Equinix, Tetra Pak, TD Bank Group and Workday. Together, these six companies have agreed to produce 4,000GWh of clean energy between 2020 and 2030. In addition to these businesses, a large and growing number of corporates are also working to reduce their emissions profiles.

When the original RE100 campaign was launched at NY Climate Week in September 2014 there were 13 signatories. In February 2015 there were 15 signatories and by the end of October 2015 that number jumped to 36.  There are now 65 companies that have committed to go 100 percent renewable, and these corporations are well on their way to meeting their goals.

The new initiative is called Corporate Sourcing of Renewables campaign is being led by the German and Danish governments. It was announced at the Seventh Clean Energy Ministerial (CEM7) on June 2nd, in San Francisco.

There is a growing business case and a host of good reasons why companies are embracing renewable energy. The RE100 initiative is leading the way.

This initiative calls on governments to get corporations to adopt renewables. However, governments also have a critical role to play advancing the growth of renewables through policy development and implementation.

The CDP is a partner of the initiative and the organization's executive officer Mark Kenber said:

"The demand push from corporates is as important as supportive government policy bold action by businesses, cities and governments sends a strong market signal and means we can hold global warming below two degrees far more quickly."

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