Indian corporates root for renewable energy: Report

Many RE100 members want to achieve 100% renewable electricity before 2024

GN Bureau | January 18, 2017


#Renewable Energy   #Energy   #RE100  

Corporate sourcing of renewable energy can be a major driver of the transition to a robust, zero-emissions economy, said a report released to coincide with the World Economic Forum Annual Meeting in Davos.

The report, by RE100, a global, collaborative initiative of the influential companies committed to 100% renewable power, highlights the speed of the corporate transition to cleaner energy.

Many RE100 members have set an end goal for achieving 100% renewable electricity before 2024, and 11 members already achieved 100% renewable electricity prior to 2015 – sending a clear market signal to governments and investors around the world that growing demand for renewable energy must be met sooner rather than later.

Based on the latest available electricity consumption data (2015) from RE100 members, other findings in report are:

 

  • Around a tenth of RE100 electricity use being reported in India is from renewables (0.1 TWh in 2015, with Power Purchasing Agreements (PPAs) being the most popular approach that year, followed by on-site generation).
  • Member companies (87 and growing) are now creating demand for approximately 107 TWh of renewable power annually; around the same amount of electricity as consumed by The Netherlands*.
  • Members making fastest progress towards their 100% renewable electricity targets include Goldman Sachs, which jumped from 14% renewable electricity in 2014 to 86% in 2015; Elopak, which went from 18% to 86% renewable during the same year; and H&M, which went from 27% to 78%.
  • Within the membership, Telecommunication Services is the closest sector to reaching 100% renewable electricity (97% in 2015).
  • Nearly a quarter of the electricity usage reported by members in China is from renewables (0.4 TWh in 2015, with unbundled renewable energy attribute certificate purchases being the most popular approach that year).
  • Of the 34 RE100 members reporting the use of self-generation on-site at their facilities, wind and solar PV were by far the most popular technologies.



Damian Ryan, acting CEO of The Climate Group said: “It is really encouraging to see that more companies than ever are committing to bold climate action, helping us move towards a net zero-emissions economy. But we need to see faster progress. In order to deliver on the Paris Agreement and keep global warming well below two degrees, we need governments to remove policy barriers and create investment incentives that can provide easier access to renewable energy. And we need more business leaders to influence the usage of renewable power right along their supply chains.”
 

Comments

 

Other News

Look who’s talking ethics in Karnataka?

 Just after the UP assembly election in 1996, I was among the scores of reporters waiting at Kalyan Singh’s residence, waiting to get the first inkling of the future course of the BJP. The party had secured the maximum seats – 174 out of 425 seats – but was short of the majority mark

Company secretaries are gatekeepers of corporate governance: SEBI Chairman

“Company Secretaries, once known as secretaries to the board and management, have transformed themselves into key managerial and governance professionals. Today they are recognised for their importance on corporate landscape and have become gatekeepers of corporate governance,” said Ajay Tyagi,

Will there be light at the end of the tunnel?

Any good news which promises to bring about qualitative improvement in the lives of people, especially in rural India, is always welcome. It was heartening indeed to learn that every single village in the country now has access to electricity, as announced by the prime minister on April 29. This is most ce

A dry run in Bundelkhand

The paved road, the few concrete houses and men on motorcycles – these are deceptive signs of development in Madralalpur village. Only a couple of weeks ago, Babu, a 47-year-old distressed farmer, had hanged himself from a babool tree. Villagers were gathered at his house as his wife, mother, sister-

Our jobs, their jobs

Statistics has come a long way from the time when British prime minister Benjamin Disraeli observed: “There are three kinds of lies: lies, damned lies, and statistics.” Statistics is now an accredited branch of applied mathematics; statistical methods are routinely used to prove or disprove the

Why hasty ordinance on rape of minors needs gender balance

Of all offences, it’s the crime of rape that fires public sentiment the most, eliciting an outrage that exceeds the seemingly worst felony of all – murder too. It has probably more to do with the offence and associated gory details staying, even being replayed ruthlessly, in memory with continu

Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter