At present, RE100 has 155 members with a total electricity demand of two countries - Argentina and Portugal - combined and a combined revenue of $4.5 trillion, which is almost 5% of global GDP.
RE100 members companies witnessed an increase of 41% in demand for renewable energy in 2017 compared with 2016, according to an RE100 report on Thursday. Due to fall in prices of renewables, RE100 companies in more than 140 markets across the world switched from fossil fuel to renewable energy, with 37 companies were already over 95% renewable, and six members reached their 100% goal for the first time.
RE100 is a collaborative initiative led by The Climate Group in partnership with CDP. RE100 is sort of a club of companies that heavily rely on renewable energy and have a target of becoming 100% renewable power-driven. In 2017, member companies sourced about a third or 38% of their electricity from renewables.
Indian member companies also saw an increase of 32% of renewable electricity being sourced last year from 21% in 2016.
In RE100 Progress and Insights Annual report titled as “Moving To Truly Global Impact”, Austalia, Mexico, Taiwan and Turkey were identified as the growth hotspots. “With so much depressing news at the moment, here we have refreshing, positive story of how ambitious corporate action is changing the world for the better,” said the Climate Group CEO Helen Clarkson in the report.
At present, RE100 has 155 members with a total electricity demand of two countries – Argentina and Portugal – combined. If it were a nation, RE100 would have been at the 23rd position in the world, it added. It has a combined revenue of $4.5 trillion, which is almost 5% of global GDP.
Country-wise, most members were based in Europe region (77%), followed by North America (53), Asia (24). Of the total 37 37 new joiners in 2018, 10 are based in Japan. Sector-wise, information technology firms led the pack on progress, averaging 73% renewable electricity in 2017.