Companies need government help the electric transition

Governments need to significantly improve renewable electricity procurement options and reduce regulatory hurdles that are stopping businesses from transitioning to net-zero.

According to the latest findings from RE100’s annual disclosure report 2021, limited, or no availability of renewable electricity (reported by 40 members in 66 markets), lack of procurement opportunities (reported by 37 members in 111 markets), and prohibitive cost (reported by 27 members in 41 markets) were the top three challenges members faced procuring renewable electricity.

Asia most frequently presents barriers to sourcing experienced by members. 27 members cited barriers in the Republic of Korea, with 24 citing them in Japan and 22 citing them in China. In the 2020 report, high cost of renewables, poor corporate procurement options and limited availability of renewables were all prevalent barriers. Unsurprisingly, members operating in traditionally fossil fuel-reliant countries such as Australia, Russia and Saudi Arabia cited barriers like lack of procurement options and cost.

Despite these challenges, the latest report finds that RE100’s membership has seen its biggest yearly growth in Asia-Pacific, where 36 new members are headquartered – equalling 62 per cent of its new membership. RE100 now has 102 members in Asia-Pacific.

RE100 is a joint initiative between CDP and Climate Group bringing together hundreds of large businesses with the ambition of reaching 100 per cent renewable electricity.

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