Corporate commitment to renewable energy is accelerating rapidly, driven by global initiatives like RE100. The 2024 RE100 Annual Disclosure Report highlights substantial progress, emerging trends, and vital insights for corporate buyers and renewable energy (RE) project developers.
1. Corporate Renewable Ambition Reaches New Heights
RE100, the leading global initiative for voluntary corporate action on renewable electricity, has grown dramatically. By May 2025, it included 442 companies, consuming 583 terawatt-hours (TWh) annually – representing approximately 2% of global electricity use. These companies increased their claimed renewable electricity share to 53% in 2024, up from 50% in 2023, with 42% officially recognized by RE100.
This remarkable growth aligns with the International Energy Agency’s (IEA) record-setting 50% increase in global renewable electricity capacity added in 2023, reflecting unprecedented momentum toward a zero-carbon future.
2. Asia Powers Global Renewable Demand
Asia has emerged as the core engine behind RE100’s expanding corporate demand:
- 24 of the 32 new companies joining RE100 since the 2023 report are based in Asia, representing 94% of new electricity demand.
- Manufacturing remains the largest sector for electricity use, accounting for over 60% of demand among new members.
- Many new Asian members set ambitious targets earlier than the existing 2035 average.
3. EACs: Essential for Corporate Sustainability
EACs, especially unbundled certificates and supplier contracts, have surged in importance, becoming the primary procurement method as Power Purchase Agreements (PPAs) declined.
Key trends include:
- Nearly all renewable energy growth among a core group of 305 consistently reporting companies came from unbundled EAC purchases (2022-2024).
- Starting from 2027, RE100 will require claims to be supported by cancelled EACs, enhancing credibility. Coal co-firing will no longer be accepted.
- Many top companies currently self-reporting 90–100% renewable electricity need to improve transparency, specifically by providing detailed country-level data, essential for RE100 recognition.
2. The Pivotal Role of EACs in the RE Transition
- Dominant Procurement Method: While Power Purchase Agreements (PPAs) have decreased as a share of RE100 companies’ RE procurement for the second consecutive year, unbundled EACs and contracts with suppliers have seen sizable growth. This is especially true in Asian markets where PPA options are limited.
- EACs Driving Progress: For a fixed sample of 305 companies reporting across 2022-2024, the increase in RE procurement was mostly driven by unbundled EAC purchasing and contracts with suppliers.
- Strengthening Credibility (New Rules): From 2027 reporting, RE100 will require recognized RE claims to be supported by a cancelled EAC. This aims to increase trust and transparency, aligning with RE100’s global policy message for credible claims.
3. Regional Spotlight: Emerging Markets and the EAC Landscape
| Country | 2024 RE Share (RE100 companies) | Procurement Mix | Policy / Market Signals |
|---|---|---|---|
| Vietnam | 58 % (↑ 22 pp vs. last period) | • Unbundled EACs 35 % • Contracts with suppliers 40 % | Direct Power Purchase Agreement (DPPA) decree approved (Jul 2024) – enables grid & direct-line PPAs |
| Malaysia | 33 % | • Unbundled EACs 34 % • Contracts with suppliers 47 % | mRECs aligned with RE100 criteria; Corporate Renewable Energy Supply Scheme (CRESS) opens PPAs & third-party access |
| Indonesia | 33 % | • Unbundled EACs 66 % | Green Energy as a Service scheme; 15 % rooftop-solar cap removed |
| South Africa | 54 % | • Unbundled EACs 84 % | Private-sector RE investment surging despite grid challenges; 2024 Electricity Regulation Act amendment encourages further growth |
4. Company Progress: Driving the Transition
- Industry Leadership: Manufacturing continues to be the largest consumer of electricity among RE100 members and represents over 60 % of the annual electricity consumption from new joiners.
- High-Performing Members: 141 companies self-report consuming between 90-100 % RE. Many of these achieve their high RE percentages through unbundled EACs due to their accessibility and ability to cover consumption across diverse geographies.
- Examples of Companies and their EAC-Driven Progress: Companies like ABB (89 % Unbundled EACs), Accenture (83 % Unbundled EACs), Intel (97 % Unbundled EACs), BT Group (99.9 % Unbundled EACs), and T-Mobile (99 % Unbundled EACs) demonstrate the significant role of unbundled EACs in achieving high RE targets.
5. Implications for Buyers: Why RECs Matter for Your Journey
Meeting RE100 and Net-Zero Targets: Renewable Energy Certificates (RECs) are a crucial, flexible tool for meeting corporate renewable electricity targets, especially for multi-national corporations operating in diverse markets where other options like PPAs may be limited or unavailable.
Ensuring Credibility: The upcoming 2027 RE100 requirement for all recognized RE claims to be supported by cancelled EACs underscores their importance for transparent and verifiable renewable energy procurement.
Monsoon Carbon’s Role for Buyers: We provide access to a global portfolio of credible RECs that align with RE100 criteria, enabling you to meet your targets transparently and efficiently.
6. What it Means for REC Project Owners
Growing Corporate Demand: The continued expansion of RE100 membership, particularly in Asia, and the increasing electricity consumption of existing members, creates a robust and expanding market for renewable energy.
Value of EACs Reinforced: The explicit requirement for EACs for RE100 claim recognition from 2027 elevates the importance of robust EAC issuance and cancellation systems, providing a clear revenue stream for projects.
Monsoon Carbon’s Role for Project Owners: We connect your renewable energy projects with corporate buyers actively seeking RECs, helping you monetize the environmental attributes of your generation and secure financing for future developments.
WhatsApp
Zalo
