Launched during Climate Week NYC 2014, the mission of RE100 is to accelerate the change to zero carbon emissions by 2050 through the use of renewable electricity (biomass including biogas, geothermal, solar, water or wind). RE100 provides companies with access to peer-learning, policy support, and local market insight. The initiative operates in Europe, North America, the Asia-Pacific and Japan.

Companies (currently 316) must meet a set of criteria to become members of RE100. RE100 is an initiative led by The Climate Group and CDP.

RE100 members look to policymakers to enact the following policy measures to support corporate sourcing of renewable electricity:

1. Create a level playing field on which renewable electricity competes fairly with fossil-fuel electricity and reflects the cost-competitiveness of renewable electricity.

2. Remove regulatory barriers and implement stable frameworks to facilitate the uptake of corporate renewable electricity sourcing.

3. Create an electricity market structure that allows for direct trade between corporate buyers of all sizes and renewable electricity suppliers.

4. Work with utilities or electricity suppliers to provide options for corporate renewable electricity sourcing.

5. Promote direct investments in on-site and off-site renewable electricity projects

6. Support a credible and transparent system for issuing, tracking, and certifying competitively priced Environmental Attribute Certificates (EACs).

RE100 focuses investors, companies and cities on taking urgent action to build a truly sustainable economy by measuring and understanding their environmental impact.

Assessment

RE100, the Climate Group and CDP are three more organisations/initiatives (amongst a growing cadre of such) that see themselves as driving the push towards carbon neutrality by 2050. Whilst there does not appear to be anything to give any particular cause for concern, the bigger question is whether the current garden has a thousand flowers blooming or whether it has a weed problem. The proof, no doubt, will come in the pudding.

Head of Social Policy at Bedford Row Capital Plc
Professor Kevin Haines:
kevin.haines@bedfordrowcapital.com

Structuring and Issuance of Eurobonds. Liquidity and Asset backed. AIFMD exempt solutions for distribution of yield products. Arranger and Lead Manager.