Client: A multinational consumer goods company
Sector: Consumer goods
Location: Singapore and Malaysia
Ambition to: Source 100% of its electricity from renewable sources by 2030
Services: Renewable Energy Procurement Strategy | Implementation Plan
Figures
From a 2015 baseline, they aim to achieve the following by 2030:
- An increase in annual sourcing of renewable electricity up from 5% to 100%
- A 65% reduction in absolute scope 1 and 2 greenhouse gas (GHG) emissions
- A 50% reduction in scope 3 GHG emissions
About the Company
A multinational consumer goods company with a strong commitment to sustainability and environmental responsibility. A leader in implementing innovative practices across its operations and supply chain, making significant strides in reducing its carbon footprint. The company has pledged to reach net zero within the next two decades.
The Challenge
With the company’s increasing focus on its 100% Renewable Electricity (RE) commitment, the company sought to understand its options to procure RE for its facilities in Singapore – a challenging market to navigate due to the high demand and competition among corporates for a limited supply of renewable energy.
It was important to the company that the solution adopted would have strong credibility in the eyes of reporting bodies such as the CDP, SBTi and the RE100.
Our Expertise
Combining a deep understanding of renewable energy markets in Southeast Asia, with a strong track-record supporting multinational corporates on the renewable energy transition, the team was well placed to deliver a timely plan for the company.
Process & Roadmap
To guide the multinational’s RE sourcing strategy, we explored the potential of aggregating its consumption in Singapore and Malaysia.
- Leveraging our extensive, in-market renewable energy developer network, we assessed available off-site options in both countries based on policies, PPA mechanisms, government ambitions and outlook.
- We engaged with key reporting bodies to gain clear understanding of solution requirements defined by CDP and SBTi to ensure credible progress against carbon reduction targets.
- Combining these aspects, we built a RE procurement strategy based on their business structure, specific metrics, and needs.
- We delivered a recommended implementation plan for off-site renewable energy solutions in both Singapore and Malaysia, providing the sites with a clear understanding of the feasible options and associated pros and cons of each.
Key Outcomes
By effectively assessing various RE procurement strategies, engaging with reporting bodies, and delivering a comprehensive implementation plan, the company:
- Was able to make informed decisions that aligned with its business structure, metrics, and needs, ultimately advancing its renewable energy goals while fulfilling reporting obligations.
- Had confidence that its solution carried strong credibility with key industry reporting bodies, and not only met, but exceeded, high sustainability standards.
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