When RE100 was born in 2014, few thought it possible to reach 100% renewable electricity. As founding partners of the initiative, Ingka Group (IKEA Group) and Swiss Re put their heads above the parapet and made the ambitious pledge.
BT Group, Commerzbank, Formula E, H&M, KPN, Nestlé, Philips, RELX Group (Reed Elsevier), and YOOX Group were also among the first to join, leading by example and inspiring others to follow suit.
Since then, business demand for renewables has been a key driver of new renewable energy investments across the continent, with corporate power purchase agreements (PPAs) tripling over five years.
In 2017, we partnered with SolarPower Europe, WindEurope and WBCSD to establish the RE-Source Platform, bringing together Europe’s clean energy buyers and suppliers, and providing guidance, to accelerate corporate sourcing of renewables.
In 2019, backed by several RE100 members, we successfully called on EU policymakers to bring in a more ambitious New Renewable Energy Directive.
As part of the Clean Energy for all Europeans package, Europe’s 2030 renewable energy target was increased to 32%. Member States are required to reflect this higher level of ambition in their national laws by 2021, removing barriers to PPAs ahead of updating their national energy and climate plans in 2023.
Europe is on track to meet its target of 20% renewable energy by 2020 (17.5% in 2017), and clean energy is a core pillar of the European Green Deal, a set of legislative and policy initiatives setting Europe on a path to reach carbon neutrality by 2050.
For more information on our work in Europe, contact Aleksandra Klassen, RE100 Senior Impact Manager, The Climate Group.