Why It's Needed
To raise awareness and build the business case. Solar and wind are increasingly cost-competitive energy sources, yet many companies are unaware of the benefits of locking in these low costs for years to come. The campaign will help spread the word beyond large multinational organizations and across CEM countries.
To drive the market and boost the economy. If more of the world’s companies use their purchasing power to procure and generate electricity from renewable sources, it creates significant market pull. Thousands of additional megawatts of renewable energy will be required, presenting a tremendous market opportunity for renewable energy providers and an economic opportunity for countries. If 1,000 of the world’s most influential businesses become 100 percent powered by renewables, they could decarbonize almost a tenth of all electricity used worldwide and cut more than 1,000 Mt of CO2 every year.
To remove policy barriers. Supportive public policies and programs are critical to ensure that companies have easily accessible options to obtain renewable power. A policy toolkit & other resources will help governments facilitate greater corporate procurement.
To build consumer confidence. A certification standard and consumer label will assure consumers that companies are delivering on their renewable electricity commitments.