RE100 Companies Accelerating Progress to 100% Renewable Energy

The RE100 2024 Annual Disclosure Report by Climate Group and CDP has been released. The document shares how RE100 companies are progressing towards their 100% renewable energy goal.

Findings

There was good news as member companies reported consumption of 53% renewable energy in 2024, up from 50% in the previous year. Total energy consumption was 545 TWh, of which around 289 TWh was renewable energy.

The number of member companies also increased with a total of 32 new members including 24 headquartered in Asia.

A total of 405 companies out of 424 members disclosed their renewable energy consumption. Of these, 78 businesses claimed 100% renewable energy, and another 63 claimed to use at least 90% renewable energy.

Unbundled Energy Attribute Certificates (EACs) or Renewable Energy Certificates (RECs), make up the largest percentage of claims at 39% or 108 TWh. Supplier contracts were the next most popular method at 29% or 80 TWh, while Power Purchase Agreements comprise 27% (or 75 TWh) of procurement. Self-generated renewable energy made up 3% or 6 TWh of claims.

The two most cited challenges preventing adoption of renewable energy are high costs/limited supply and the lack of procurement options. Other reasons include frictions, regulatory barriers and credibility concerns.

Outlook

As the world works to triple renewable energy capacity to 11,000 TW, governments, businesses, non-profits and individuals are driving the global energy transition. As evidenced by both the increasing membership of RE100 and adoption of renewable energy, businesses are playing a major role to limit global warming.

REDEX, a provider of innovative renewable energy solutions, enables companies to adopt renewable energy. If you are a business that is seeking to seize opportunities in the green transition, contact us to find out how we can support your renewable energy journey. Email enquiry@redex.eco or visit www.redex.eco.