Encouraging companies to transition to 100% renewable electricity

Companies use around half of the electricity produced globally. Their carbon footprints are significant. Switching to using 100% renewable electricity not only makes business sense but is key to the transition to a low-carbon economy.

Now in its third year, our campaign to increase corporate use of renewable power has hit its stride. Our investor group in support of this campaign has doubled in size to over 50 institutions, representing 10 countries and over $1 trillion AUM. We have engaged with over 70 companies, asked 20 AGM questions and seen 16 companies go on to make a commitment to 100% renewable power. These companies are now creating demand for more than 17TWh of clean energy every year.

Why this is important and what we’re doing about it

We are unlocking the power of the investment system to transform corporate electricity policies. As well as accounting for around half the world’s electricity consumption, corporate energy policies also shape government decisions and the wider public debate. When global giants like Tesco, Google and IKEA shift to 100% renewable electricity, the world takes notice.

Our campaign brings together pension funds, charitable trusts and asset managers to use their influence to encourage public companies to make the commitment to using 100% renewable electricity in their global operations. So far, over 50 investors managing over $1 trillion in assets have joined the campaign. You can find out more about the investor group here.

We are mobilising investor support for the RE100 initiative, which is a project of The Climate Group in partnership with CDP, as part of the We Mean Business coalition. RE100 showcases and celebrates companies who make the public commitment to 100% renewable electricity. In 2014 just 15 public companies had made this pledge. Since then this number has jumped to over 100, including companies from all over the world and from a wide range of industrial sectors – from retail and food to telecommunications and IT.

ShareAction’s renewable electricity campaign is one part of a larger programme of work tackling climate change through the investment system. You can find out more about our Below Two Degrees campaign here.

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Latest news

Campaign resources

Investor Engagement on RE100

The RE100 investor initiative, coordinated by ShareAction, brings together institutional investors to encourage companies to transition to 100% renewable electricity with RE100. This briefing outlines the reasons for joining the initiative.

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Reforming the Investment System to Secure a Low-Carbon Future

The investment system has the potential to greatly influence the transition to a low-carbon economy. This briefing outlines how regulatory change and specific policy developments in the UK will nurture that potential.

Download

How we Work on Climate Change

Our Climate Change programme seeks to accelerate the transition to a low carbon economy through campaigns focused on high carbon sectors, promoting renewable electricity use, and highlighting climate risk in investments.

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All RE100 resources

Find out more

Sophia McNab Senior Campaigns Officer

Partners

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Colette St-OngeRenewable Electricity