BloombergNEF's updated RE100 forecast reveals a widening gap between commitments and actions among RE100 members, who have pledged to source 100% renewable electricity. The forecast projects that RE100 members, including 22 new companies, will need to procure an additional 224TWh of clean electricity in 2030 to meet their renewable goals. This shortfall of 62TWh, surpassing Vietnam's power generation fleet, underscores the need for increased clean energy procurement. On the other hand, Apple is taking significant steps towards sustainability by securing commitments from over 70 suppliers to use 100% renewable energy, thereby reducing its carbon footprint and setting a positive example for the industry.
The RE100 Clean Electricity Shortfall:
According to the updated forecast, the clean electricity shortfall among RE100 members has increased significantly compared to the 2018 forecast. The growing number of new RE100 members has created higher demand for renewable energy, outpacing clean energy procurement from existing members. This gap presents a significant opportunity for developers, utilities, and investors to capitalize on the increasing demand for renewable energy.
Apple's Commitment to Renewable Energy:
Apple has been at the forefront of the renewable energy transition, and its latest initiative focuses on its supply chain. The tech giant has secured commitments from over 70 suppliers to transition to 100% renewable energy, covering nearly 8 gigawatts of power capacity required for manufacturing Apple's products. By avoiding over 14.3 million metric tons of carbon dioxide emissions annually, Apple's efforts are equivalent to taking more than 3 million cars off the road each year. This commitment demonstrates Apple's dedication to reducing its environmental impact and driving sustainability throughout its operations.
Closing the Gap and Driving Change:
The growing clean electricity shortfall among RE100 members highlights the need for concerted efforts to accelerate the transition to renewable energy. While the gap presents challenges, it also presents opportunities for renewable energy developers, utilities, and investors to meet the increasing demand. Apple's commitment to renewable energy in its supply chain sets an example for other companies, showcasing the feasibility and benefits of transitioning to clean energy sources.
The updated RE100 forecast highlights the widening gap between commitments and actions among RE100 members, necessitating increased procurement of clean electricity. This presents an opportunity for the renewable energy sector to meet the growing demand for sustainable solutions. Apple's efforts in driving renewable energy adoption in its supply chain demonstrate the company's commitment to environmental stewardship and inspire others to take similar actions. By closing the gap between commitments and actions, companies can play a crucial role in advancing the transition to a clean energy future and mitigating climate change.
