Corporate Sourcing

Remove barriers to foster renewable energy procurement

About

Action is urgently needed on finance, permits, supply chains and grids to deploy 11,000GW of renewable energy by 2030.Leveraging corporate sourcing of clean energy will enhance and expedite the efforts to achieve this target.

Corporate sourcing has already contributed over 160 GW to the grid through PPAs and direct onsite installations (BNEF). Moreover, the private sector accounted for over 75% of global renewable investment from 2013 to 2020 (IRENA, 2023), with 20% attributed to market-based corporate sourcing (IEA 2024). Companies invest in renewables to limit global warming, obtain affordable, clean electricity, and reduce carbon emissions. Many worldwide have pledged to use 100% renewable electricity, facilitated by initiatives like RE100 and 24/7 CFE, presenting significant business opportunities.

To accelerate the transition to a cost-effective, inclusive, and carbon-free electricity system, addressing technological, market, and consumer empowerment challenges is paramount. Simultaneous advancement of policies in these areas is critical, as they reinforce each other in driving the renewable energy transition.

Research from Princeton University, TU Berlin, IEA, and others highlights how corporations employing hourly matched clean energy procurement can accelerate electricity decarbonization and implement advanced clean technologies for a reliable, fully decarbonized electricity system.

Corporate electricity buyers, renewable energy suppliers, and policymakers have a unique opportunity to collaborate and support the global effort to triple renewable energy capacity. Enabling new, competitively-priced renewable energy resources at an unprecedented scale can significantly contribute to achieving climate and energy objectives worldwide

Actions for Corporate Sourcing

GRA’s policy agenda on Corporate Sourcing outlines the core actions needed to enable corporate clean energy procurement to play a crucial role in contributing to reach the global 2030 3x Renewables target.

Corporate sourcing events

November 26, 2024

Songdo Convensia, Icheon, South Korea

Time 4 Action: Corporate Sourcing

October 2, 2024

Foz do Iguaçu, Brazil

Corporate Sourcing @ CEM

Webinars

Time 4 Action - The Industry Perspective on Tripling Renewable Energy by 2030

GRA - BNEF Report

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