New research from the RE100 Initiative, a global scheme which brings together hundreds of large and ambitious businesses committed to 100% renewable electricity, has revealed that corporations are playing a critical role in helping to drive the global energy transition.
The RE100’s latest annual disclosure report has claimed that members are accelerating the energy transition around the world, with markets like Japan, China, India, and Vietnam showing some of the strongest increases in renewable electricity use by RE100 companies. The Initiative, which is led by the CDP and the Climate Group has set a target of achieving zero carbon grids globally by 2040.
Since the previous disclosure was released last year, RE100 reports that its member companies are procuring more of their electricity from renewables in markets in Asia, such as Japan (25% in 2023 to 36% in 2024); India (23% to 39%); Vietnam (30% to 58%), and lastly China (50% to 59%). Overall, RE100 companies now claim 53% renewables use, up from 50% in the last annual report. The Initiative notes that recent growth has been driven by new membership stemming from Asia, where 75% of the 32 new members added in the past year are headquartered in the region.
This shift in Asia marks a significant moment for the region, a traditionally challenging market for renewable electricity procurement, the research notes. Meanwhile, renewables use by members in Europe has remained at 83%, whilst in North America it decreased by 1% to 65%.
Ollie Wilson, Head of RE100, Climate Group said: “It’s incredibly encouraging to see Asian companies tapping into the enormous potential of renewable power and driving the global energy transition. Their demand is sparking a response from governments, unlocking yet more renewable electricity supply for these companies. If policymakers can work fast to remove the barriers that hamper the affordability and accessibility of renewables for corporates, it increases their competitiveness. They’ll attract significant private investment in their country’s energy transition and economy, becoming global green economic powerhouses.”[i]
CDP's Head of Energy, Andrew Glumac, added: “Asia is emerging as the next frontier for renewables growth. While established markets in North America and Europe continue to perform strongly, this report provides further evidence to support a shift in focus among some of the world's biggest brands”[ii].
China is set to continue to be the global leader in terms of renewables additions, with the IEA reporting late last year that China will account for 60% of the expansion in global capacity to 2030. The country is forecast to be home to every other megawatt of all renewable energy capacity installed worldwide in 2030, after surpassing its end-of-the-decade 1 200 GW target for solar PV and wind six years early.
Further, a recent study looking specifically at solar energy highlighted China’s dominance. The study from SolarPower Europe found that new global solar installations in 2024 reached just under 600 GW, marking a 33% increase on the 449 GW added in 2023. In addition, solar energy accounted for 81% of all renewable energy capacity added last year[iii].
It found that the deployment of the technology is heavily skewed towards certain markets, particularly China. The top 10 nations account for 81% of total global solar installations, and China alone accounted for more than half (55%) of global solar additions in 2024, followed by the United States (8%), India (5%), Germany (3%), and Brazil (3%).
Source: SolarPower Europe[iv]
SolarPower Europe claim that 2025 will be a pivotal year for the global PV industry, with growth continuing to be fuelled by China along with the technology’s competitiveness (low prices, unique versatility, and further decreasing cost) helping boost rollout. However, it warns that external pressures are growing, including resurging political support for fossil fuels, macroeconomic headwinds, and shifting geopolitical dynamics.
[i] 2024 RE100: Annual disclosure report | RE100
[ii] World-leading companies accelerating the switch to renewables in Asia | RE100
[iii] Global Market Outlook for Solar Power 2025-2029 - SolarPower Europe
[iv] Ibid
Lauren has extensive experience as an analyst and market researcher in the digital technology and travel sectors. She has a background in researching and forecasting emerging technologies, with a particular passion for the Videogames and eSports industries. She joined the Critical Information Group as Head of Reports and Market Research at GRC World Forums, and leads the content and data research team at the Zero Carbon Academy. “What drew me to the academy is the opportunity to add content and commentary around sustainability across a wealth of industries and sectors.”
