RE100 Renewable Energy Initiative/Green Power Low Carbon and Energy Cost Pathway 

Petrochemical energy carbon tax risks and the fate of renewable energy 

• Petrochemical energy mining has high carbon emissions, high carbon tax cost risks? 

• Petrochemical energy is highly volatile and unstable due to the turmoil of the international game, and the profit risk is high? 

• Renewable energy supply and demand reverse, industrial input, output and demand echo? 

• Large international purchasing groups have adopted extreme layouts? 

• Global procurement trends, will petrochemical-derived goods be marginalized? 

I. Purpose of establishment 

1. Purpose of the initiator: RE100 (Renewable Energy 100%) initiative is a global initiative launched by CDP Carbon Disclosure Project (CDP) and The Climate Group in 2014, with the goal of convening representative manufacturers with huge influence in supply chain and procurement around the world to join in 2020. and achieved more than 100 global initiatives to promote the use of 100% renewable energy by enterprises. 

2. Goals and indicators: RE100 requires participating organizations to achieve 100% renewable energy utilization by 2050 at the latest, and 100% renewable energy use within 8 years after joining RE100 if the participating company or organization itself is a renewable power equipment manufacturer. 

II. What are the conditions for joining RE100 membership?

 company commitments or conditions for joining RE100; 

1. Annual electricity consumption: 100 million kilowatts (kWh) or more: Enterprises/organizations that join RE100 commit to an annual electricity demand of at least 0.1 TWh/100 GWh/100,000 MWh. 

2. General business organizations publicly commit to achieving the goal of 100% renewable energy by 2050, and report on the progress of using green energy year by year. *RE100 targets must meet the minimum standards: 60% by 2030, 90% by 2040, and 100% by 2050.

 3. Renewable energy equipment manufacturers have publicly committed to achieving 100% renewable electricity use within 8 years after joining RE100. 

4. Submit electricity consumption data and reports: Questionnaire responses need to be submitted to CDP, and the CDP team will review and verify the reliability of the data and whether it complies with RE100 regulations. 

III. RE100 Effectiveness and Evaluation

 1. Obligation to respond to the annual questionnaire: In order to track the overall progress of the initiative and ensure its credibility, RE100 members must report their annual data acquisition through the CDP Climate Change Questionnaire. Member companies are obliged to provide national-level reporting based on the prompts in the CDP climate change questionnaire. 

2. Quality indicators and acceptance: Every year, according to the target achievement rate and the specific current situation, when setting or submitting the content of the questionnaire, the target can be preset first and then the quantitative or acceptable indicators can be set according to the situation. 

3. Excluding industries specializing in fossil energy, fuel and petrochemical extraction, aviation, arms dealers, gambling or gambling, and tobacco are not allowed to join the RE100 initiative. 

IV. Who are the members of Taiwan who joined the RE100 initiative ? 

Up to now, a total of 392 companies around the world have joined the RE100 initiative, including several well-known manufacturers in Taiwan, such as TCI, Tridle, Hair O'Right, Grape King, Kingwhale, Delta Electronics, Jola Lab, Acer, KYF, ASUS, Merry, Taiwan Mobile, E Ink, Cathay Financial Holdings, Primax, E.SUN Financial Holdings, Fubon Financial Holdings, Global Wafer (GWC), Qisda (Qisda), VIS (VIS), Chunghwa Telecom (CHT), Ardentec, Advantech, WNC, and Yongfengyu Group (YFY) have all joined one after another. 

V. Definition of renewable energy 

1. Written definition (narrow sense) According to Subparagraph 1, Paragraph 1, Paragraph 1 of Article 3 of the "Renewable Energy Development Act": "Renewable energy: refers to energy generated by direct use or treatment of solar energy, biomass energy, geothermal energy, marine energy, wind power, non-pumped hydropower, domestic general waste, general industrial waste, etc., or other energy sources that are recognized by the central competent authority as sustainable use." 

2. Definition of environmental protection (broadly) All energy generated by the mining, extraction, refining and addition of unnaturally formed chemical raw materials that do not use the earth's natural existing resources and are carried out by industrial technology means and is highly energetic and equipment. 

VI. Current status of Taiwan's renewable energy (green power) market (as of 2022) 

1. Development of Taiwan's renewable energy market Taiwan has announced the "2050 net-zero carbon emission goal", which is an important step that shows that Taiwan is moving in the right direction to reduce carbon emissions. As the demand for green electricity continues to increase in the industry, Taiwan must ensure that the development trend of green power aligns with net-zero carbon goals. For those businesses that can afford to source green electricity, ensuring that the market can offer affordable purchase prices is crucial, which helps navigate regulatory compliance and supply chain pressures.

 2. Impact of RE100 As more Taiwanese companies join RE100 and other international companies increase their demand for green electricity, the momentum of this wave of green power procurement will be passed on to the entire market. Taiwan's RE100 corporate members have become agents of change in the green power market, actively seeking policies and other market solutions, and have gradually exerted green influence in the local and global markets. The addition of these companies will help drive the growth of Taiwan's green power industry and is expected to encourage more companies to adopt sustainable energy practices, contributing to the achievement of net-zero carbon emission goals. This will also stimulate renewable energy suppliers' capital investment and technology development to meet the international procurement requirements of Taiwan's demand market year by year.

 3. Taiwan's renewable energy market demand In response to the RE100 initiative, the climate organization Climate Group, CDP, and the China Economic Research Institute, a report "Taiwan Market Briefing" was jointly released 2020" pointed out that the RE100 membership list continues to grow, and this year's RE100 report shows that as of the end of 2019, 85 of the 228 member companies had operational business activities in Taiwan, including Taiwanese companies TCI, 3dL, Hair Oright, and Grape King Bio. Looking at the total number of members, about 38% of RE100 members will rely on Taiwan to achieve 100% renewable electricity for their global operations, so the report also considers Taiwan to be the most challenging market region to achieve 100% renewable energy by 2050 due to its few options and high cost of sourcing renewable electricity. For example, the legal cost of electricity (LCOE) for solar energy is higher than in Australia, mainland China, India, and most EMEA markets. According to statistics, Taiwan's renewable energy generation capacity is sufficient to meet the needs of direct RE100 members in 2019, but it is far from enough to meet the needs of its supply chain (Figure 1. Power supply structure diagram).