Commercial, Industrial, Sourcing Renewables - January 29, 2018
RE100 at 122 companies and counting
RE100 now boasts 122 multinational businesses that have made the commitment to 100% renewable energy across their operations, according to their just-released third annual report. The organization met its goal of 100 members in July 2017, three years earlier than originally expected.
RE100 reported 2017 as a "tremendous" year, with membership growing by 40% from 87 members in 2016, including expansion into Japan and Singapore. Led by The Climate Group in partnership with CDP, RE100 companies have a combined global revenue of more than $2.75 trillion.
The organization has ambitious plans for 2018, including growing membership to at least 200. "It is a milestone year between the adoption of the Paris Agreement and the 2020 revision of Nationally Determined Contributions," noted the report, adding "The rapidly improving economics of renewable electricity have brought us tantalizingly close to the tipping point at which renewables are simply the best business choice." The report also notes some potential "roadblocks," including a pro-fossil fuel US federal administration, complex and varied market structures, a lack of awareness of the rapid pace of change, political inertia.
The U.S. leads the RE100 with 41 member companies, followed by the U.K with 25. By sector, financials lead with 30 companies. RE100 membership has grown in all sectors except health care, with consumer staples more than doubling to 19 members.
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