The RE100 initiative, led by The Climate Group in partnership with CDP, has been recognized as one of seven leaders on UN Sustainable Development Goal 7, which targets access to affordable, reliable and sustainable energy for everyone.
The news was announced at a Seven for 7 event hosted by SEforALL and Ashden in New York City, which shone a spotlight on climate leadership across policy, business and finance.
Now in its fourth year, RE100 was recognized for spurring business action and driving long-term shifts in energy models. The initiative now unites 138 influential companies working to source 100% renewable electricity – bringing about a faster market shift to renewable energy overall.
“Securing a clean and sustainable energy future is at the core of our RE100 mission,” said Amy Davidsen, Executive Director – North America, The Climate Group, accepting the honor at the event.
“The Climate Group brings together pioneering companies committed to the highest level of climate action. They are shifting markets through their own purchasing power, enabling growth in the clean economy.”
She added, “However, to go further and faster in this pivotal year we need more companies to step up to the challenge, and more governments and cities to join them. Only then will we accelerate the clean energy transition fast enough to avoid dangerous climate change and enable greater prosperity for all.”
Also speaking at the Seven for 7 event, Lance Pierce, President of CDP North America, said: “At CDP, our vision is a thriving economy that works for people and planet. The large-scale transition to renewable energy by corporations around the world is key to achieving that.”
He added: “Companies are not only committing to renewable targets, they are achieving them. Our RE100 pioneers show there’s no reason not to aim for a 100% goal, and they are demonstrating leadership by influencing many other companies to follow.”
The need for urgent leadership
The Seven for 7 celebration took place during the ministerial meeting of the 2018 United Nations High-level Political Forum on Sustainable Development. This is a platform for reviewing progress on the 2030 Sustainable Development Goals, the UN agenda for delivering action in areas critical for the prosperity of humanity and the planet.
“The leadership stories we’re hearing tonight give me hope that we can make faster progress on SDG7,” said Rachel Kyte, CEO and Special Representative to the UN Secretary-General for Sustainable Energy for All.
She continued: “We are not on track to realize the global goals by 2030. Their urgency requires leadership. These stories illustrate the difference leadership can make – speeding the pace of renewable energy development, accelerating energy efficiency gains and scaling access to energy increasingly with distributed renewable energy.”
Shifting global markets
Together, RE100 members represent over US$2.75 trillion in revenue and over 170 TWh of demand for renewable energy – equivalent to the energy consumption of a medium sized country.
By investing in renewable energy technologies, they are increasing demand for clean power and driving innovation in the clean economy. Recent examples include Marui Group from Japan trialing blockchain technology in renewables sourcing; a consortium of RE100 members purchasing renewables in the Netherlands, and 38% of companies working with their suppliers to make renewables the norm in all aspects of the supply chain.
The Climate Group is also working with RE100 members to leverage their collective demand to influence policy debates. A new provisional EU deal targeting 32% renewables across the EU by 2030 follows an open letter to the Council of the European Union from RE100 members calling for ambitious and supportive policy.