CEM’s Corporate Sourcing of Renewables campaign closes on a high, with new report launched
PRESS RELEASE
Copenhagen, 24 May – The Clean Energy Ministerial Campaign – Corporate Sourcing of Renewables – closes on a high this week at the Ninth Clean Energy Ministerial (CEM9) meeting in Copenhagen, with a launch of a REmade Index – a global reference index for corporate sourcing of renewables.
The campaign, which launched at the 7th Clean Energy Ministerial meeting in San Francisco in 2016, and had been co-led by Denmark, China and Germany, had been successful in promoting corporate sourcing of renewable energy which now takes place in 75 countries, including all CEM Member countries. As of 2018, over 900 corporate Power Purchase Agreement (PPAs) have been signed for about 20 GW, and over 130 companies have joined RE100 – a commitment to switch to 100% of renewable energy.
A new report – Remade Index – prepared by CEM Members and the International Renewable Agency presented today at CEM9 in Copenhagen, show that half of the over 2,400 large companies analysed are voluntarily and actively procuring or investing in self-generation of renewable electricity for their operations. Of the companies in the study, more than 200 source at least half of their power from renewables. Electricity self-generation is the most common sourcing model, followed by unbundled energy attribute certificates (EACs) and PPAs.
The report finds that the corporate sourcing trend is widespread and dynamic, with companies participating in the practice coming from various sectors. By volume, the majority of renewable electricity was consumed in the materials sector while the highest shares of renewable electricity consumption are found in the financial (24 per cent) and information technology (12%) sectors. Countries in Europe and North America continue to account for the bulk of corporate sourcing.
About the CEM:
The Clean Energy Ministerial is a partnership of the world’s key economies working together to advance the deployment of clean energy. Together, they account for approximately 90% of the world’s clean energy investments and 75% of global emissions. The CEM combines an annual high-level Ministerial meeting with year-round technical work through action-driven, transformative clean energy initiatives and campaigns, led by governments and supported through strong partnerships with the private sector, international organizations, and other stakeholders. To find out more, visit: www.cleanenergyministerial.org .