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Race to Green

Scoring Tech Companies from China, Japan and South Korea on

their Climate Action and Renewable Energy Use

December 2021

This report was written by Greenpeace East Asia (hereafter referred to as “GPEA”) to further promote public education and

scientiﬁc research; encourage press coverage, and to promote the awareness of environmental protection. READING THIS

REPORT IS CONSIDERED EQUIVALENT TO HAVING CAREFULLY READ AND FULLY UNDERSTOOD THIS COPYRIGHT STATEMENT

AND DISCLAIMER, AND AGREEING TO BE BOUND BY THE FOLLOWING TERMS.

This report is published by GPEA. GPEA is the exclusive owner of the copyright of this report.

Disclaimer

This report was originally written in English, and was subsequently translated into brieﬁngs in Chinese, Japanese, and Korean. In

the event of any discrepancies, the English version prevails.

This report is ONLY for the purposes of information sharing, environmental protection and the wider public interest. It should not

be used as a reference for any investments, or any other such decision making process. If so used, Greenpeace is exempt from

any liabilities arising from such use.

The content of this report is based exclusively on ofﬁcially published information obtained independently from publicly available

sources disclosed by the company. GPEA does not guarantee the relevance and accuracy of the information contained in this

report.

Authors: Jia Wei, Xueying Wu

Contributing Authors: Daul Jang, Yeonho Yang

Support from: Ayako Sekine, Erin Newport, Insung Lee, Jude Lee, Kyurim Kyoung, Ruiqi Ye,

Yuan Ying

Designer: Mariana Oksdath

Published by Greenpeace East Asia

Executive Summary

Introduction

Key Findings

Recommendations

Tech Industry GHG Emissions

Performance Assessment

Climate Commitments

Climate Action

Transparency

Advocacy

Corporate Renewable Energy

Procurement Methods

Recommendations

Appendix

Ranking

Green

Race to

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RacetoGreenScoringTechCompaniesfromChina,JapanandSouthKoreaontheirClimateActionandRenewableEnergyUseDecember2021CopyrightStatementThisreportwaswrittenbyGreenpeaceEastAsia(hereafterreferredtoas“GPEA”)tofurtherpromotepubliceducationandscientificresearch;encouragepresscoverage,andtopromotetheawarenessofenvironmentalprotection.READINGTHISREPORTISCONSIDEREDEQUIVALENTTOHAVINGCAREFULLYREADANDFULLYUNDERSTOODTHISCOPYRIGHTSTATEMENTANDDISCLAIMER,ANDAGREEINGTOBEBOUNDBYTHEFOLLOWINGTERMS.ThisreportispublishedbyGPEA.GPEAistheexclusiveownerofthecopyrightofthisreport.DisclaimerThisreportwasoriginallywritteninEnglish,andwassubsequentlytranslatedintobriefingsinChinese,Japanese,andKorean.Intheeventofanydiscrepancies,theEnglishversionprevails.ThisreportisONLYforthepurposesofinformationsharing,environmentalprotectionandthewiderpublicinterest.Itshouldnotbeusedasareferenceforanyinvestments,oranyothersuchdecisionmakingprocess.Ifsoused,Greenpeaceisexemptfromanyliabilitiesarisingfromsuchuse.Thecontentofthisreportisbasedexclusivelyonofficiallypublishedinformationobtainedindependentlyfrompubliclyavailablesourcesdisclosedbythecompany.GPEAdoesnotguaranteetherelevanceandaccuracyoftheinformationcontainedinthisreport.Authors:JiaWei,XueyingWuContributingAuthors:DaulJang,YeonhoYangSupportfrom:AyakoSekine,ErinNewport,InsungLee,JudeLee,KyurimKyoung,RuiqiYe,YuanYingDesigner:MarianaOksdathPublishedbyGreenpeaceEastAsia01020304050607ExecutiveSummaryIntroductionKeyFindingsRecommendationsTechIndustryGHGEmissionsPerformanceAssessmentClimateCommitmentsClimateActionTransparencyAdvocacyCorporateRenewableEnergyProcurementMethodsRecommendationsAppendixRankingGreenRacetoEXECUTIVESUMMARYRacetoGreenGreenpeaceRacetoGreenGreenpeaceExecutiveSummary5IntroductionIn2021,EastAsiaexperiencedanotheryearofhistoricextremeweatherevents,withdevastatingfloodinginChina1andheatwavesinSouthKorea2andTokyo.3Climatechangeisnowamajorforceinourdailylives,andthetechnologysectorisanimportantandgrowingsourceofemissions.RapidgrowthinEastAsia’stechnologysectorhasresultedinasharpincreaseinelectricityconsumptionandsignificantcontributiontotheregion’sgreenhousegas(GHG)emissions.Thisreportassessesclimatecommitmentsandemissionsreductionsby30oftheregion’smajortechcompanies.Thetotalelectricityconsumptionofthese30companiesrivalsthatofThailand.4Unfortunately,mostelectricityconsumedbymajortechcompaniesinEastAsiaisstillgeneratedfromburningfossilfuels,primarilycoalandgas.Lastautumn,China,JapanandSouthKoreapledgedtoachievecarbonneutrality/netzerobymid-century(2060inChina;2050inJapanandSouthKorea).Fortheregion’stechcompanies,adopting100%renewableenergyuseisnecessarytosustaingrowthinthefaceofgrowingpressuretoreduceemissions.Forthisreason,corporaterenewableenergycommitmentsprovidemorethanamerebrandreputationadvantage;theyarekeytoacompany’scoregrowthstrategy.Yetwhilethetechsectorbrandsitselfastheindustryofthefuture,majortechcompaniesinEastAsiaareonlyjustbeginningtoincreasetheirrenewableenergyuseanddevelopstrategiestoreduceGHGemissions.Bycontrast,casestudiesfromaroundtheworldunderlinethatthetechindustryhasthepotentialtoactasaleadingforceintheenergytransitionandtoforgeamodelforcorporaterenewableenergyuseacrossallsectors.Thisreporttracksrenewableenergycommitmentsandfollow-throughby301.Gan,N.,&Wang,Z.,2021.(2021).DeathTollRisesasPassengersRecountHorrorofChinaSubwayFlood.RetrievedOctober25,fromhttps://edition.cnn.com/2021/07/22/china/zhengzhou-henan-china-flooding-update-intl-hnk/index.html2.Heraldcorp.(2021).Livestockanimalheatwavebattle...220,000chickensand5,000pigsdied.RetrievedOctober25,fromhttp://news.heraldcorp.com/view.php?ud=202107280004073.Gunia,A.(2021).EveryoneKnewTokyoWouldBeOneoftheHottestOlympicsEver.It’sStillTakingaBrutalToll.RetrievedOctober25,fromhttps://time.com/6085237/olympics-extreme-heat/4.IEA.RetrievedOctober25,fromhttps://www.iea.org/fuels-and-technologies/electricityRacetoGreenGreenpeaceExecutiveSummary6NocompanyincludedintherankingscoredhigherthanaC+.Noneoftherankedcompanieshavecommittedto100%renewableenergyuseacrossthesupplychainby2030andtakenthenecessarystepstowardmeetingthisgoal.Sonyreceivedthehighestoverallgradeontherankingasaresultofthecompany’scommitmenttoachieve100%renewableenergyby2040,pledgetoreduceGHGemissionsacrossthesupplychain(scope1-3),relativelyhighlevelofdatatransparency,andrenewableenergyadvocacyefforts.However,Sonyhasmadelittleprogresstowardsincreasingitsrenewableenergyuse,withrenewableenergystillaccountingforonly7%ofthecompany’stotalpowerconsumption,accordingtoSony’s2021sustainabilityreport.5LeadingglobalbrandsSamsungElectronics,Xiaomi,andAlibabawereamongthelowestscoringcompaniesintheranking,receivingDorD-grades.Allthreecompanieshaveyettoissueglobal100%renewableenergypledgesorGHGemissionreductiontargets.XiaomiandAlibabaalsoperformedpoorlyinthedatatransparencycategory.5.Sony.(2021).SonySustainabilityReport2021.RetrievedOctober25,fromhttps://www.sony.com/en/SonyInfo/csr/library/reports/SustainabilityReport2021_E.pdfOverallofEastAsia’sleadingtechnologycompanies.Companieswereselectedfromthe2019ForbesTop100DigitalCompanieslist,withconsiderationtodomesticmarketvalueandsocialimpact.RankingcriteriaandevaluationmethodologyweredevelopedbyGreenpeaceEastAsia(GPEA).Therankingassesseseachcompany’sclimatecommitment,climateaction,transparencyandclimateadvocacy.Theauthorshopethatarubrictomeasureeachcompany’sprogresswillencouragetheregion’stechgiantstostrengthentheircontributionstonational,regionalandglobalclimateefforts.MaximumGHGemissionsreductionscanberealizedifallcompaniescommittoandachieve100%renewableenergyuseacrossthesupplychainbyorbefore2030.KeyFindingsRacetoGreenGreenpeaceExecutiveSummary7ClimateCommitmentsOnlytworankedcompanieshavepledgedtoachieve100%renewableenergybyorbefore2030:YahooJapan(2023),andRakuten(2025).Neitherofthetwocompanieshasissuedthesamecommitmentacrosstheirsupplychain.Inmanycases,companieshavesettargetdatestoachieve100%renewableenergythataredecadesinthefuture,fartoolatetoaccelerateEastAsia’senergytransition.LGElectronicsandfourotherrankedcompaniespledgedtoreach100%renewableenergyby2050,muchlaterthantheaverageforRE1006companies(2028).7Noneofthe10majorChinesecompanies8includedintherankinghaveissued100%renewableenergycommitments,comparedtohalfofrankedcompaniesfromJapanandfourrankedcompaniesfromSouthKorea.Yetinallcases,existing100%renewableenergycommitmentsdonotincludetheentiresupplychain,whichcanaccountforthemajorityofacompany’stotalemissions.Fewcompanieshavepledgedtoreduceemissionsacrosstheirentiresupplychain.18outof30rankedcompaniespledgedtoachievecarbonneutralityornetzerowithinthreedecades(by2050),includingPanasonicandLGElectronics.Yetonlythreecompanies-Sony,ToshibaandHitachi-haveincludedsupplychainemissionsintheirtargets.Fewcompanieshavefollowedthroughontheircommitmentswithrealaction.Nearlyhalfofrankedcompanieshaveissuednetzeroorcarbonneutralitypledges,andonethirdhavesettargetsforrenewableenergyuse.However,onlytwocompanies,RakutenandGDS,haveachievedrenewableenergyusageratesof20%orhigher.Rankedcompaniescontinuetooptforrenewableenergysourcingmethodsthatarecharacterizedbyhighlimitationsandlowimpacts.90%ofrankedcompaniescontinuetorelyonrooftopsolarandunbundledrenewableenergycertificates(RECs)totransitionto100%renewableenergy.Ranked6.RE100isaglobalinitiativebringingtogethertheworld’smostinfluentialbusinessesdrivingthetransitionto100%renewableelectricity.7.Daul,J.(2021).Nomoreexcusesforclimateinaction.RetrievedOctober25,fromhttps://www.koreatimes.co.kr/www/opinion/2021/07/794_307195.html8.JDLogistic,theformerlogisticsarmofJD.com,committedto100%renewableenergyby2030.JD.comhasyettoissuesuchacommitment.ClimateActionRacetoGreenGreenpeaceExecutiveSummary8companiescouldinsteadincreasetheiruseofPowerPurchaseAgreements(PPAs),contractsthatallowcompaniestobuyrenewableelectricitydirectlyfromproducers.PPAsareavailableinallthreecountriesandaremoreeffectivelyabletomeetthehighelectricitydemandofmajortechcompaniesandcontributetotheexpansionoflocalrenewableenergydevelopment.Transparency70%ofrankedcompaniesdisclosedscope3emissions.Theremaining30%includeTencent,AlibabaandNaver.Onlyfourrankedcompaniesdiscloseddatafromoutsidethecountrywheretheyareheadquartered.Thesecompaniesare:Sony,Canon,RenesasElectronics,andLGElectronics.AdvocacySevenmajorJapanesetechcompanies,includingSonyandPanasonic,collaboratedtopetitionJapan’sgovernmenttoincreaseits2030renewableenergycapacitytargetto50%.9TencenthasrequestedChina’sgovernmenttoremovebarrierstocorporaterenewableenergyprocurementandencourageinvestmentinlarge-scalerenewableenergyprojects.Bycontrast,rankedtechcompaniesinSouthKorea,includingSamsungElectronics,LGElectronics,andSKHynix,havenotpubliclyadvocatedtostrengthenrenewableenergypolicies.RecommendationsTechcompaniescanutilizethefollowingapproachestoreducetheiremissions:•Settargetstoachieve100%renewableenergyacrossthesupplychainby2030.•SetambitiousGHGemissionreductiontargetsthatincludetheentire9.JapanClimateInitiative.(2021).92corporationscallingontheJapanesegovernmenttoraiseits2030renewableenergytargetto40-50%.RetrievedNovember5,fromhttps://japanclimate.org/english/news-topics/re2030increment/RacetoGreenGreenpeaceExecutiveSummary9supplychain(scope3)andarenotreliantontheuseofcarbonoffsets.CompaniesshouldalsoworktowardszeroGHGemissions,orasnearzeroemissionsaspossible,withshort-termtargetsinplacealongtheway.•Chooseimpactfulrenewableenergyprocurementmethods,suchasPPAs,whicharetrackableandcontributetonationalrenewableenergycapacity.•Discloseclimateandenergydataacrossthesupplychainbyabidingbyadatadisclosureframeworkthatincludesscope3emissions.•Utilizestatusasindustryleaderstoadvocateforclimatemitigationandrenewableenergy-friendlypolicies.RACETOGREENGreenpeaceRANKINGRacetoGreenGreenpeaceRanking11A-C+CCB+OverallGradeCommitmentActionTransparencyAdvocacyA-CC-CC+A-CC-D+C+FC-C-CB+FC-C-C+C-B+C-DD+C+A-C-FCC+A-C-D-C-BFC-D+CC+A-C-D+DC+A-D+DD+C-C+D+C-DC-D-D+D+DC+B+D+D-D+CD-D+DDB+RacetoGreenGreenpeaceRanking12OverallGradeCommitmentActionTransparencyAdvocacyD-D+D+FC+CD+D-FA+CD+D+FB+C+DDD-FCDDFD-CDFCFCDD-DFFD+D-C-FB-FD-DFC+FD-DD+DFFFFFFFFCDDC+D-D-FD-D-D-FCDD-D-B+TECHINDUSTRYGHGEMISSIONSRACETOGREENGreenpeaceRacetoGreenGreenpeaceTechIndustryGHGEmissions14Manyoftheworld’sbiggesttechbrandsareheadquarteredinEastAsia.FollowingrecentclimatepledgesfromthegovernmentsofChina,Japan,andSouthKorea,techcompaniesintheregionfacegrowingpressuretocontributetonational,regionalandglobalclimateefforts.However,asEastAsia’stechindustryexpands,electricityconsumptionfromthesectorcontinuestoskyrocket.Electricityusagefromtheglobaltechsectorisexpectedtogrowbynearly70%by2030,reaching3200TWh.10Theelectricityconsumptionofthe30companiesincludedinthisrankingexceedsThailand’stotal2019electricityconsumption.11AsthemajorityofEastAsia’selectricityisgeneratedfromfossilfuels,12thetechindustryisamajorsourceofGHGemissions.10.SchneiderElectric.(2021).DigitalEconomyandclimateimpact.RetrievedNovember8.11.IEA.RetrievedOctober25,fromhttps://www.iea.org/fuels-and-technologies/electricity12.Greenpeace.(2014).GreenGadgets:DesigningtheFuture.RetrievedOctober25,fromhttps://www.greenpeace.org/static/planet4-international-stateless/21980e69-green-gadgets.pdfDevicemanufacturingTVs&peripheralsuseIoTdevicesuseNetworkequipmentuseITdevicesuseMobilenetworksFixednetworksDCinfrastructuresStorageCompute201505001,0001,5002,0002,5003,0003,500202020232030EvolutionofITEnergyDemand(TWh)Figure1.Evolutionoftechsectorelectricitydemand(Source:SchneiderElectric)RacetoGreenGreenpeaceTechIndustryGHGEmissions15TechisoneofChina’sfastest-growingindustriesandisamajordriverofthenationaleconomy.GreenpeacehasestimatedthatelectricityusagefromChina’sdatacenterindustrywillincreasebytwo-thirdsby2023.13However,giventhat61%oftheindustry’selectricityisgeneratedfromcoal,thefailuretolauncheffectiverenewableinterventionsisforecasttoresultinthesectoremitting193milliontonnesofGHGemissionsby2035.14In2018,Japan’sdomestictechsectorcontributed44.2trillionJPYtothecountry’sGDP,accountingfor8.7%ofJapan’sGDPbyindustry.15However,Japan’stechnologysectorisamajorconsumerofelectricity.TotalelectricityconsumptionbyJapan’stechsectorin201916exceededthatofNewZealandin2020.1775%ofJapan’selectricityisstillgeneratedfromfossilfuels.18Likewise,SouthKorea’stechsectorproductionisexpectedtoreachKRW495trillionby2025,withanannualgrowthrateof1.5%from2021.19SamsungElectronics,LGElectronics,andSKHynixaresomeoftheworld’sbiggesttechnologycompanies.AccordingtofiguresreleasedbytheMinistryofEnvironment(NGMS)andGreenpeacecalculations,SouthKorea’stechsector20wasresponsiblefornearly37milliontonnesofcarbonemissionsin2019,exceedingNorway’stotalemissionsin2018.2113.GreenpeaceEastAsia.(2019).ElectricityconsumptionfromChina’sinternetindustrytoincreasebytwothirdsby2023.RetrievedOctober25,fromhttps://www.greenpeace.org/eastasia/press/1255/electricity-consumption-from-chinas-internet-industry-to-increase-by-two-thirds-by-2023-greenpeace-2/14.GreenpeaceEastAsia.(2021).China5ganddatacentercarbonemissionoutlook.RetrievedOctober25,fromhttps://www.greenpeace.org.cn/wp-content/uploads/2021/05/China-5G-and-Data-Center-Carbon-Emissions-Outlook-2035.pdf15.JETRO.(2021).AttractiveSectors:ICT.RetrievedOctober25,fromhttps://www.jetro.go.jp/ext_images/en/invest/img/attractive_sectors/ict/ict_EN_202103.pdf16.JETRO.(2021).AttractiveSectors:ICT.RetrievedOctober25,fromhttps://www.jetro.go.jp/ext_images/en/invest/img/attractive_sectors/ict/ict_EN_202103.pdf17.RetrievedOctober25,fromhttps://www.iea.org/fuels-and-technologies/electricity18.ISEP.(2021).ShareofElectricityGeneratedfromRenewableEnergyin2020(PreliminaryReport).RetrievedNovember5,fromhttps://www.isep.or.jp/en/1075/19.KISDI.(2021).ICTIndustryOutlookofKorea.RetrievedOctober25,fromhttps://mediasvr.egentouch.com/egentouch.media/apiFile.do?action=view&SCHOOL_ID=1007002&URL_KEY=f1832361-004d-4bbd-a3dc-1c577ec4fe3920.Includingsemiconductor,display,electricalelectronics,andcommunication21.IncludesLULUCFRACETOGREENGreenpeaceASSESSEMENTPERFORMANCERacetoGreenGreenpeacePerformanceAssessment17ClimateCommitmentsTheclimatecommitmentscategoryevaluateswhetheracompanyhascommittedtocarbonneutrality/netzeroand100%renewableenergywithareasonablescopeandtimeframe.Techfirmsthathavetargetedtoachieve100%renewableenergybyorbefore2030aregrantedhigherscores.Companiesarealsoevaluatedbasedonwhethertheyhavedevelopedsophisticatedandinclusivepathwaystoachievetheirstatedcommitments,suchasbyintegratingsupplychaincarbonemissionsintotheirGHGemissionsreductionplans.NecessityFollowingclimatepledgesissuedbyChina,JapanandSouthKoreainautumn2020,anumberoftechfirmsacrossthethreecountrieshavesetcarbonneutrality/netzerotargetstoreducetheirGHGemissions.However,thecredibilityofthesecommitmentsvaries.CredibleGHGemissionsreductionpledgesinclude:•Atimeline:companiesmustpubliclydiscloseallstepsinthetimeline,includingbyestablishingclearmid-termtargets.•Aclearpathway:companiesmustclearlydemonstratehowtheywillachievetheirGHGemissionsreductiontargets.Companiesshouldprioritizereducingdirectemissionsandavoidrelyingoncarbonoffsets.22•Scope3emissions:companiesmusttakeresponsibilitytoreducetheirscope3(primarilyfromthesupplychain)emissions.22.Offsetsareaviableoptionintheshort-termforindustrieswhereitistechnicallyorfinanciallychallengingtoreduceemissions,suchasaviationorshipping.Forsuchoffsetstobecredible,theymustbesupportedbyrobustgovernanceandmonitoringmechanisms.However,companiesshouldnotrelyonoffsetstoachievecarbonneutrality/netzero.Instead,theyshouldundertakestructural,technical,andfinancialapproachestoreduceemissionsatthesource.RacetoGreenGreenpeacePerformanceAssessment18WhatisCarbonOffsetting?“Carbonoffsetting”isanaccountingmethodthatenablesanationorcompanywithahighcarbonfootprinttopurchasecarboncredits,suchasfromtreeplantingandforestrestoration,whichareintendedtooffsetthepurchaser’sownemissions.Carbonoffsetsdistractfromdirectemissionsreductionandareoftenusedasanexcuseforhigh-emittingcompaniestocontinuetheirrelianceonfossilfuels.WhyOffsetsDon’tWorkSpeed:Fossilfuelemissionshaveanimmediateimpact,whiletheremovalofCO2fromtheatmospheretakesmuchlonger.Treegrowthtakesdecades.23Permanence:Biospherecarbonisvulnerabletoreleaseintotheatmosphereatanytime,whilefossilcarbonstaysinthegroundpermanentlyunlessitisburned.Oregon’slargestwildfire,theBootlegFire,whichoccuredinJuly2021,burnednearly400,000acresacrossthesouthernpartsofthestate.Theflamesspreadthroughone-fifthofforestssetasideforcarbonoffsetsinthearea.24Forestfiresnotonlywipeoutstoredcarbon,butalsoreleasemorecarbondioxideintotheatmosphere.Additionality:Offsetsarebasedonassumptionsofwhatwouldhavehappenedintheabsenceoftheoffset,forexample,thatdeforestationwouldhaveoccurred.However,itisnotpossibletoprovewhatmighthavehappenedintheabsenceofanoffsetscheme.Thismeansthatoffsetsmaynotbringaboutadditionalcarbonsequestrationoremissionsavoidance.Leakage:Avoidedemissionsfromtheprotectionofforestsmaysimplydisplaceloggingintoanotherarea,resultinginnoemissionsreductionatall.Limitedcarbonsinks:Nature-basedcarbonuptakehasalimitedcapacity.CurrentCO2levelsaretoohigh,meaningsinksareneededtotakeupthecarbonthatisalreadyintheatmosphere.Sinkcapacitymustnotbetiedupfordecadesto‘payoff’ongoingemissions.Formoreinformationregardingouranalysisofoffsetsanditsrisks,pleaserefertothereport“HerotoZero:uncoveringthetruthofcorporateAustralia’sClimateActionClaims,”writtenbyGreenpeaceAustraliaPacific.Weencouragecompaniestoprotectandrestoreecosystems,butcarbonoffsetsarenotasubstituteforthereductionofGHGemissions.Techfirmsshouldfirstseektocutemissionsinascomprehensiveaway-includingbyadjustingtheirbusinessmodeltoachievemaximumemissionsreductionsandtransitioningtowards100%renewableenergyacrossthesupplychain.23.Reuters.(2021).Greenpeacecallsforendtocarbonoffsets.RetrievedOctober25,fromhttps://www.reuters.com/business/sustainable-business/reuters-impact-greenpeace-calls-end-carbon-offsets-2021-10-06/24.Wolfe,D.,&Yellin,T.(2021).BootlegFireisburningupcarbonoffsets.RetrievedOctober25,fromhttps://edition.cnn.com/2021/07/22/weather/bootleg-oregon-fire-carbon-offsets/index.htmlRacetoGreenGreenpeacePerformanceAssessment19Theoptimumpathwayforacompanytoachievenetzeroorcarbonneutralityisthroughswitchingto100%renewableenergyasearlyaspossible.SinceChina,JapanandSouthKoreahavepledgedtoachievemajorGHGemissionreductiontargetswithinjustafewdecades,2030isacriticalyeartoassessprogress.25Inachieving100%renewableenergyby2030,techfirmscancontributesignificantlytotheirnationalclimatetargets.CurrentStatusIntotal,14rankedcompanies,includingSony,Fujitsu,LGElectronics,andBaidu,havepubliclycommittedtoachievecarbonneutralityornetzeroby2050.Others,includingTencent,ChinaMobile,ChinaTelecom,andChinaUnicom,haveannouncedthattheywillworktowardscarbonneutrality,buthavenotyetofficiallysetatarget.Ofthe14companiesthathaveissuedcarbonneutralityornetzeropledges,onlySony,ToshibaandHitachiincludeallsupplychainGHGemissionsintheircommitments.FujitsuandPanasonichaveincludedapartialplanforscope3emissionreductiontargets.MostrankedcompaniesthathavedevelopedGHGemissionsreductionplanshavenotincludedscope3emissionsintheirplans.25.GreenpeaceEastAsia.(2020).China,Japan,andKoreapromisedcarbonneutrality.Nowweneedthemtomakeithappen.RetrievedOctober25,fromhttps://www.greenpeace.org/eastasia/blog/6219/china-japan-and-korea-promised-carbon-neutrality-now-we-need-them-to-make-it-happen/Scope3includedCompanyYesYesYesNoNoNoNoNoNoNoNoNoPartialPartialFigure2.Theinclusionofscope3inrankedcompanies’GHGemissionreductionplansRacetoGreenGreenpeacePerformanceAssessment20Mostcompaniesincludedintherankinghavebeenfartooslowtoset100%renewableenergytargets.Asshowninfigure3,onlynineoutof30rankedcompanies,includingSony,LGElectronics,andSKHynix,haveannouncedofficialpledges.Others,includingSamsungElectronics,Toshiba,andCanon,stilllackglobal100%renewableenergytargets.TenrankedcompaniesinChina,includingAlibaba,Tencent,andGDS,haveyettoissue100%renewableenergytargets.26Companieshavetargetedtoachieve100%renewableenergybydatesthatarefartoodistantinthefuture.Forexample,Sony,Panasonic,andSKHynixhavepledgedtoachieve100%renewableenergybetween2040to2050,decadestoolatetobeimpactfulandlongaftertheRE100averageof2028.27Onlytwocompanies,YahooJapan(2023)andRakuten(2025),havepledgedtoachieve100%renewableenergybefore2030.Furthermore,noneoftherankedcompanieshaveincludedtheentiresupplychainintheir100%renewableenergytargets.26.JDLogistics,theformerlogisticsarmofJD.com,hascommittedtotransitioningto100%renewableenergyby2030.JD.comisyettoissuethesamecommitment.27.Daul,J.(2021).Nomoreexcuseforclimateinaction.RetrievedOctober25,fromhttps://www.koreatimes.co.kr/www/opinion/2021/07/794_307195.html2020203020402050(LOGISTICS)Figure3.Timelineof100%renewableenergycommitmentsbyrankedcompaniesRacetoGreenGreenpeacePerformanceAssessment21ComparisontoMajorGlobalTechBrandsAnanalysisofexistingcommitmentsandsustainabilitymeasuresbyGoogle,Apple,Facebook,Microsoft,Amazon,Equinix,andSalesforceofferslessonsforcompaniesincludedinthe‘RacetoGreen’ranking.100%REtargetAchievedin2017Achievedin2018Achievedin2018Achievedin2014100%100%100%100%2012201220112014201420152013ProgressofREtarget(2021)YearthatREtargetwasproposedCompanyNameGoogleAppleFacebookMicrosoft20252030202265%(2020)90%(2020)100%AmazonSalesforceEquinixFigure4.100%RenewableEnergyTargetsandProgressbyMajorGlobalTechCompanies2828.Greenpeace.(2021).CleanCloud.RetrievedOctober25,fromhttps://www.greenpeace.org.cn/wp-content/uploads/2021/04/ccranking_2021_cn.pdfRacetoGreenGreenpeacePerformanceAssessment22Recommendations•SetcredibleGHGemissionreductiontargetsandavoidtheuseofcarbonoffsets.Scope3shouldbeincludedinemissionreductiontargets.»CompaniesshouldworktoreduceGHGemissionsthroughatransitionto100%renewableenergyandmustnotrelyoncarbonoffsetstoachieveGHGemissionsreductiontargets.»Companiesneedtoincludescope3emissionsintheirGHGemissionreductionplan.Assupplychainemissionsareusually5.5timeshigherthanacompany’sdirectcarbonemissions,29meaningfulemissionreductiontargetsincludesupplychainemissions.•Achieve100%renewableenergyacrossthesupplychainby2030toreduceGHGemissions.ThemajorityoftechindustryGHGemissionscomefromelectricityusage,sotheshifttorenewableenergyiscritical.Asthewindowofopportunitytoaddresstheclimatecrisisisclosing,techcompaniesintheregionneedtotransitionto100%renewableenergyassoonaspossible.TheclimateactioncategoryevaluateswhethercompanieshavetakeneffectivestepstoreduceGHGemissions.Companiesarerankedbasedontheiradoptionofrenewableenergy,progressonreducingemissionsacrossthesupplychain,andutilizationofenergyefficiencyapproaches.WhentheREusageratiopasses50%,acompanyreceivesfullpointswithintherenewableenergyratiocategory.29.CDP.(2019).Supplychainsholdthekeytoonegigatonofemissionssavings,findsnewreport.).RetrievedOctober25,fromhttps://www.cdp.net/en/articles/media/supply-chains-hold-the-key-to-one-gigaton-of-emissions-savings-finds-new-reportClimateActionRacetoGreenGreenpeacePerformanceAssessment23NecessityFollowingnetzero/carbonneutralityannouncementsinautumn2020bythegovernmentsofChina,Japan,andSouthKorea,agrowingnumberofcompaniesintheregionhaveissuedtheirownclimatecommitments.However,itisnecessarytoevaluatewhethercompanieshavefollowedthroughonthesepledges,orwhethersuchpromisesaresimplyemptywordsandgreenwashing.Thetechnologysectoraccountsforbetween6-10%oftheworld’stotalelectricityconsumptionandnearly4%ofgreenhousegasemissions.30AsmostGHGemissionsaregeneratedfromelectricityconsumption,switchingtorenewableenergyisthemosteffectiveandfastestwayfortechcompaniestoreducetheirGHGemissions.Besidesrenewableenergyprocurement,energysavingisalsoanimportantapproachforcompaniestomanagetheirGHGemissions.Energysavingcanalsohelpcompaniestolowertheirenergyandelectricitycosts.Duetothecriticalroleofsupplychainoperations,itisessentialthattechgiantshelptoleadthesectorbysupportingemissionsreductionacrossthesupplychain.CurrentStatusRankedcompanieshavetakenvariousapproachestoreducetheirGHGemissions,includingtheadoptionofrenewableenergyandenergyconservationstrategies,andmanagementofsupplychainGHGemissions.However,inmostcases,therateofrenewableenergyadoptionisstilltooslowforcompaniestomeettheirownGHGreductionand100%renewableenergycommitments.27outof30rankedcompanieshavestatedintheirESGorCSRreportsthattheyutilizerenewableenergyintheiroperations.ThethreeexceptionsareKakao,Xiaomi,andChinaTelecom,whichhavenotdisclosedanyrenewableenergyusage.30.Cailloce,L.(2018).NewTechnologies’WastedEnergies.RetrievedOctober25,fromhttps://news.cnrs.fr/articles/new-technologies-wasted-energiesRacetoGreenGreenpeacePerformanceAssessment24However,therateofrenewableenergyusageamongrankedcompaniesremainslow.AsshowninFigure4,12outof30companieshavedisclosedtheirREusageratio.Renewableenergyuseremainsbelow20%forallbuttwoofthe12companies:Rakuten(64.8%)andGDS(20%).Toshiba,TencentandAlibabahaveyettodiscloseanyREusagedata.REUsageRatioCompany7%2.60%--------------------------6.30%20%8.60%17.60%8.60%--64.80%11.76%------4%--10.10%2.50%Figure5.REusageratiobycompany3131.Thereferenceofthisdataisshowninthecompanydatacard.RacetoGreenGreenpeacePerformanceAssessment25BesidesthelowREusageratio,mostrankedcompaniesarenotsourcingREthroughimpactfulprocurementmethods,suchasPPAs.AsshowninFigure6,rooftopsolarwastheprimaryREsourcingmethodutilizedbyrankedcompanies.Rooftopsolarisaneasyandaffordablewayforcompaniestoadoptrenewableenergy.Itcandirectlypromotelocalprocurementandaddnewrenewableenergycapacity.However,thevolumeofsolarPVpanelsthatcanbeinstalledonacompany’sroofislimitedduetospaceconstraintsandisfarfromsufficienttomeettheelectricitydemandofmajortechcompanies.Forexample,LGElectronicshasbuilt6.7MWofsolarenergycapacityatworksitesinSouthKorea,whichproduced8,832MWhofsolarenergyin2019.32Butin2019LGElectronicsconsumedmorethan90timestheamountofsolarenergythattherooftopcapacitywasabletogenerate.Althoughrooftopsolarpanelshaveclearadditionality,relianceonrooftopPValoneisinsufficienttomeettheneedsofmajortechcompanies.Renewableenergycertificates(RECs)arethesecondpreferredREsourcingmethodamongrankedcompanies.11rankedcompaniesusedRECtopurchaserenewableenergyasshowninfigure6.AnRECisamarket-basedinstrumentthatindicatesthattheRECholderownsonemegawatt-hour(MWh)ofelectricitygeneratedfromrenewableenergysources.33ThemajorityofRECsinthethreecountriesareunbundledRECs.ThoughunbundledRECsofferflexibility,simplicityandloweroperationalrisks,theytypicallydonotleadtoanincreaseinlocalrenewableenergycapacity.Onlysixrankedcompanieshavereporteduseofmarkettrading(orPPAs)tosourceRE:Baidu,Alibaba,ChinaMobile,ChinaUnicom,TencentandGDS.UnderacorporatePPA,thebuyerentersintoacontractwithanindependentpowerproducer,utility,orfinancier,andcommitstopurchaseasetamountofrenewableelectricityortheoutputfromaspecificassetatanagreedpriceandforanagreedperiodoftime.ThereisnolimittotheamountofelectricitypurchasedunderacorporatePPA.ForacorporatePPAtobecredible,REpowerstationsshouldprovideRECsalongwiththecontract.RECsrepresent32.LGElectronics.(2020)LGElectronicsSustainabilityReport2019-2020.RetrievedOctober25,fromhttps://www.lg.com/global/sustainability/resource/2019-2020%20Sustainability%20Report[20210825_172240524].pdf33.Chen,J.(2021).RenewableEnergyCertificates.RetrievedNovember2,fromhttps://www.investopedia.com/terms/r/rec.aspRacetoGreenGreenpeacePerformanceAssessment26theenvironmentalattributesofthepurchasedelectricity,whilethePPArepresentstheelectricalattributes.34CorporatePPAsaretrackableandpromoteREconsumption.Theyarethemostpromisingprocurementmethodfortechcompaniestorealise100%RE.WhenitcomestoimpactfulREprocurementmethods,therearethreefactorsforconsideration.351.Trackability:clarifyownershipandpowerconsumptionoftheenvironmentalattributesofrenewableenergy,andavoiddoublecounting.2.Localprocurement:promotelocalconsumptionofrenewableenergyanddecarbonizationofthelocalpowergrid.3.Additionality:increasenewrenewableenergyinstallationcapacity.Renewableenergysourcingmechanismsarediscussedindetailinthefollowingsection.34.Johnson,J.(2020).4WaystoGetRenewableEnergyCertificates:Pros&ConsofEach.RetrievedNovember2,fromhttps://www.leveltenenergy.com/post/ways-to-get-renewable-energy-certificates35.IRENA,(2018).CorporateSourcingofRenewables:MarketandIndustryTrends.RetrievedOctober25,fromhttps://irena.org/-/media/Files/IRENA/Agency/Publication/2018/May/IRENA_Corporate_sourcing_2018.pdf051011615202025RooftopsolarRECsMarkettradingNumberofcompaniesFigure6.UseofvariousREprocurementmethodsbythe30rankedcompanies.RacetoGreenGreenpeacePerformanceAssessment27TrackingthePurchaseofRenewableEnergybyGlobalTechFirmsGlobally,PPAsaretheprimarymethodforcompaniestosourcerenewableenergy.ByH12021,corporationsworldwidehadpurchased19.6GWofrenewableenergythroughsignedPPAs,anincreaseofmorethan120%yearonyear.36Fiveoftheworld’sbiggestPPAbuyersaretechcompanies:Microsoft,Amazon,Google,Facebook,andIntel.Inadditiontotheadoptionofrenewableenergy,companieshavearesponsibilitytoreduceGHGemissionsacrossthesupplychain.Althoughmostoftherankedcompanieshaveyettoincludescope3emissionsintheircarbonneutralitycommitments,23outofthe30companiessaidtheyhadconsideredGHGemissions,energyconservation,andemissionreductionwhenselectingsuppliers.However,mostemissionreductionrequirementsforsuppliershavenotbeenadoptedinpractice.Onlyninerankedcompanies,includingSony,LGElectronics,andSamsungElectronics,providedGHGemissionsreductiontrainingsessionsfortheirsuppliers.Norankedtechfirmshaveprovidedfinancialassistancetosupplierstopromotetheuseofrenewableenergy.Bycontrast,aninitiativebyApplecalledtheChinaCleanEnergyFunddemonstrateshowfinancialassistancetosupplierscanfunctioninpractice.3736.2H2021CorporateEnergyMarketOutlook(BNEF,2021).37.Apple.(2018).ApplelaunchesnewcleanenergyfundinChina.RetrievedOctober25,fromhttps://www.apple.com/hk/en/newsroom/2018/07/apple-launches-new-clean-energy-fund-in-china/00130.31.02.31.52.33.99.12.32.12.61.716.315.07.22.812.26.43.44.74.16.213.620.125.019.62012141516171819179200239167167325277971,3002,7771,2131,9361,4832,73516720820215101520204060801001202530AMERAnnualvolume(GW)Cumulativevolume(GW)IntelMytilineosUniparTargetGoogleFacebookBASFTotalEnergiesAmazonMicrosoftYTDEMEAAPACMWCumulativeOtherWindSolarSource:BloombergNEFNote:Chartsareforoffsitedealsonly.CapacityisdisplayedinMWDCGlobalcorporatePPAvolumes,byregionTopcorporateofftakers,2021RacetoGreenGreenpeacePerformanceAssessment28BestPracticeAspartofApple’scommitmenttoaddressclimatechangeandincreasetheuseofrenewableenergywithinitssupplychain,Appleand10ofitssuppliersvowedin2018tojointlyinvestnearlyUSD$300millionoverthenextfouryearsintheChinaCleanEnergyFund.Thefundwasestablishedtoinvestinanddevelopcleanenergyprojectstotalingmorethan1gigawattofrenewableenergyinChina,theequivalentofpoweringnearly1millionhomes.38Recommendations•IncreasetheREusageratio.RenewableenergyisthemosteffectiveandcrediblewaytoreducetechindustryGHGemissions.CompaniesmustincreasetheREusageratiointheiroperations.•Adoptimpactfulrenewableenergyprocurementmethods.Developapowerfulrenewableenergyprocurementplantopromotethedevelopmentoflocalrenewableenergywhilemeetingelectricitydemand,suchasPPAs.•Provideassistancetosupplierstoachievecarbonreduction.Learnfromtheexperienceofinternationalcompaniesinpromotingemissionsreductionsacrossthesupplychain.Companiescanusetheirowninfluencetoestablisharenewableenergyfundtohelpsupplierspurchaserenewableenergy.Thetransparencycategoryincludeswhethercompaniesdiscloseenergyuse,electricityuse,climatemitigation,andGHGemissionsinformationtothepublicandstakeholders.Inaddition,companiesareassessedonthepublicationofdetailedenvironmentaldata,includingenergytype,regionalenvironmentaldata,andscope3emissionsdata.Alldatahavebeencollectedfrompublicplatforms,suchasofficialcompanywebsitesandESGreports.Websitesthatrequireregistrationtoviewdataarenottakenintoaccount.38.Apple.(2018).ApplelaunchesnewcleanenergyfundinChina.RetrievedOctober25,fromhttps://www.apple.com/hk/en/newsroom/2018/07/apple-launches-new-clean-energy-fund-in-china/TransparencyRacetoGreenGreenpeacePerformanceAssessment29NecessityInrecentyears,Environmental,Social,andGovernance(ESG)hasbecomeanimportantfactorintheinvestmentmanagementprocess.AccordingtotheGlobalSustainableInvestmentReview,sustainableinvestingassetsincreasedby34%between2016and2018,to$30.7trillion.39DatatransparencyiscloselylinkedtoESGratings.ESGratingsenableinvestorstoevaluateportfoliosaccordingtotheirsustainableobjectivesandlong-termfinancialandsocialreturns.40GlobalinvestorssuchasBlackrockhaveemphasisedtheroleofdatadisclosureinhelpingcompaniestoattractinvestment.41Techcompanieshavearesponsibilitytodiscloseenvironmentaldatatoinvestors,customersandotherrelevantstakeholders.CurrentStatusNearlyalltechcompaniesincludedintherankinghavedisclosedenvironmentaldatatosomedegree.OnenoteworthyexceptionisGDS,whichtodatehasyettoreleaseanESGreport.Thelevelofdatatransparencyvariesacrosstechcompaniesintheranking,especiallywhenitcomestodatatransparencyacrossalloperationsanddisclosureofscope3emissions.39.GlobalSustainableInvestmentAlliance.(2019).2018GlobalSustainableInvestmentReview.RetrievedOctober25,fromhttp://www.gsi-alliance.org/wp-content/uploads/2019/06/GSIR_Review2018F.pdf40.OECDParis.(2020).ESGInvesting:Practices,ProgressandChallenges.RetrievedOctober25,fromwww.oecd.org/finance/ESG-Investing-Practices-Progress-and-Challenges.pdf41.LarryFink’s2020LettertoCEOs.(2020)AFundamentalReshapingofFinance.RetrievedOctober25,fromhttps://www.blackrock.com/us/individual/larry-fink-ceo-letterRacetoGreenGreenpeacePerformanceAssessment30COMPANYENERGYUSAGEELECTRICITYUSAGECLIMATEMITIGATIONGHGEMISSIONFigure7.Environmentaldatadisclosurebyrankedcompanies.Greenindicatesthatacompanyhasdiscloseddata,whilegreyindicatesthatithasnot.RacetoGreenGreenpeacePerformanceAssessment31Thereisalsoaneedforrankedcompaniestobetransparentaboutglobalandregionalenvironmentaldata.Ofthe30rankedcompanies,onlySony,Canon,RenesasElectronics,andLGElectronicshavedisclosedenergyandelectricityusageoutsidethecountrywheretheyareheadquartered.HuaweihasdiscloseditselectricityusageoutsideofChinabuthasnotdisclosedthecorrespondingenergydata.Theremainingrankedcompanieshavefailedtodiscloseenvironmentaldataoutsideofthecountrieswheretheyareheadquartered.Allcompaniesincludedintherankingdisclosedscope1and2GHGemissionswithexceptionofAlibabaandGDS.However,nearlyathirdofrankedcompaniesfailedtodisclosetheirscope3emissionsdata,includingNaver,Tencent,andXiaomi.Mostcompaniesincludedintherankingaremultinationalcorporationswithbusinessoperationsindifferentregions.Itisnecessarythattheypublishenvironmentaldataforeachregionwheretheyoperate.Recommendations:•Astructuredandconsistentdatadisclosureframeworkisnecessary.CompaniescanadheretorelevantinternationaldisclosureguidelinessuchasTCFD(TaskForceonClimate-RelatedFinancialDisclosures)andCDP(CarbonDisclosureProject).•Companiesareencouragedtodisclosescope3emissionsinfull,includingsupplychainemissions.•Tomoreeffectivelyreduceemissions,companiesshoulddisclosetheirapproachtoemissionsreduction.Inparticular,theymustfullydiscloseinformationabouttheoffsetofso-called“uncuttableemissions”andmustdetailwheretheseemissionscomefrom,whytheycannotbedirectlyreduced,thevolumeoftotalemissionsthattheyaccountfor,andtheplantoreducetheemissions.RacetoGreenGreenpeacePerformanceAssessment32BestPracticeGHGemissionsbySony:42SonyhasdisclosedGHGemissionsfromscope1,2,and3attheglobalandregionallevelandhasdescribedthecategoryandcalculationmethodsofdifferentemissionscopes.4342.Sony.(2021).SonySustainabilityReport2021.RetrievedOctober25,fromhttps://www.sony.com/en/SonyInfo/csr/library/reports/SustainabilityReport2021_E.pdf43.Sony.(2021).GreenhouseGasRelatedDataCollectionMethodsandRationale.RetrievedNovember3,https://www.sony.com/en/SonyInfo/csr_report/environment/data/method/ghg.htmlScopeAnnualenergyconsumptionreductionrateperproduct(comparedtoFY2013)GHGemissions:Scope1(directemissions)GHGemissions:Scope2(indirectemissions)GHGemissions:Scope3(otheremissions)PurchasedgoodsandservicesCapitalgoodsFuelandenergyrelatedactivities(notincludedinscope1orscope2)UpstreamtransportationanddistributionWastegeneratedinoperationsBusinesstravelEmployeecommutingUpstreamleasedassetsDownstreamtransportationanddistributionProcessingofsoldproductsUseofsoldproductsEnd-of-lifetreatmentofsoldproductsDownstreamleasedassetsFranchisesInvestmentsElectronicsproductsSonyGroupSonyGroupSonyGroupSonyGroupSonyGroupSonyGroupSonyGroupSonyGroupSonyGroupSonyGroupSonyGroupSonyGroupSonyGroupSonyGroupSonyGroupSonyGroupThousandt-COThousandt-COThousandt-COThousandt-COThousandt-COThousandt-COThousandt-COThousandt-COThousandt-COThousandt-COThousandt-COThousandt-COThousandt-COThousandt-COThousandt-COThousandt-CO%51187115216,4034,233781942203993102N/AN/AN/AN/ASonyGroupThousandt-COSonyGroupThousandt-CO172416N/AN/AN/A3410,6351821371179,57011,4034533N/AN/A125518764143172267951731,29612023,316379114,87017,077118812041881895254Unit201820192020CategoryRacetoGreenGreenpeacePerformanceAssessment33RegionalGHGemissionsdatafromSony44Theadvocacycategoryevaluateswhetheracompanyhaspubliclyadvocatedforandengagedwithcarbonneutralityandrenewableenergy-relatedissuesonvariouslevels,includingcorporategovernance,policy,andpeeradvocacy.NecessityAdvocacyeffortsbymajortechcompaniescanhavewidespreadimpacts,especiallyformarketswhererenewableenergyisdifficulttosource.Ononehand,techcompaniescanusetheirinfluencetopersuadegovernmentstoestablishrenewableenergy-friendlypolicymechanisms.Theycanalsosharewithothercompaniestheirexperienceswithrenewableenergyprocurementandemissionsreductionpathways.InMarch2021,agroupofleadingglobaltechfirms,includingsomeheadquarteredinJapan,lobbiedJapan’sgovernmenttoincreaseits2030renewableenergytargetto50%.45InJuly2021,thegovernmentrespondedbyestablishingplanstosetthenewnationalREtargetat36%-38%,apartialvictoryforthecompanies.4644.Sony.Environmentaldatafile.RetrievedNovember4,fromhttps://www.sony.com/en/SonyInfo/csr_report/environment/data/45.GlobalbusinessesurgeJapaneseGovernmenttoacceleraterenewableenergygoals(2021).RetrievedOctober26,fromhttps://www.there100.org/japan-letter46.RE100.(2021).Japanaimsfornearly40%renewableenergybyfiscal2030.RetrievedOctober26,fromhttps://asia.nikkei.com/Business/Energy/Japan-aims-for-nearly-40-renewable-energy-by-fiscal-2030AdvocacyScope1NonEnergy-Related(t-CO)Scope1Energy-Related(t-CO)Scope2(t-CO)Total(t-CO)Fiscal2015Fiscal2017Fiscal2016Fiscal2018Fiscal20191,192733690029,07031,13928,17919,62818,22669,27158,29250,43236,08623,20941,43555,71478,68090,16499,533YearEnvironmentalDataforSities:NorthAmerica(Fiscal2015Onwards)RacetoGreenGreenpeacePerformanceAssessment34CurrentStatusEightChineseandsevenJapanesecompaniesincludedintherankinghavebeenactiveinpubliclyengagingwiththeirrespectivegovernmentstodeveloprenewableenergyandcarbonreductionopportunities.RankedcompaniesinChinaandJapanhavetakenvaryingapproachestoinfluencepublicpolicy.Japanesecompaniesincludedintherankinghaveprimarilyrequestedwiderrenewableenergyaccessibilitythroughjointpetitionstothegovernment,whileChinesecompanieshaveproposedsolutionsthroughparticipationingovernmentconferencesandpolicyseminars.TodateGreenpeacehasnotobservedanyeffectiveactionbySouthKoreancompaniesintermsofpublicgovernmentallobbyingformoreambitiousrenewableenergyexpansion.Onthecontrary,thethreemajorlobbyingentities,theFederationofKoreanIndustries(FKI),KoreaChamberofCommerceandIndustry(KCCI),andKoreaEnterprisesFederation(KEF),haveopposedbothambitiousclimateactionandstrengtheningofthecurrentrenewableenergyexpansionpolicy.Thoughcompaniesmayconductpolicyadvocacyinaprivatesetting,wealsoencourageindustryleaderstopubliclyadvocateforrenewableenergymechanismstomaximiseimpact.RacetoGreenGreenpeacePerformanceAssessment35COMPANYPOLICYPEERGOVERNANCEFigure8.PublicadvocacyactionsbyrankedcompaniesRacetoGreenGreenpeacePerformanceAssessment36Recommendations•TechcompaniesinEastAsiamustcooperateandutilizepublicplatformstoadvocateforRE-friendlymechanisms.Publicadvocacyefforts,suchaspubliclobbyingandpetitions,canleadtogreateraccountabilityandrecognitionoftheissuebypolicymakers.RACETOGREENGreenpeacePROCUREMENTMETHODSCORPORATERENEWABLEENERGYRacetoGreenGreenpeaceCorporateRenewableEnergyProcurementMethods38Continuousimprovementstoenergyefficiencyandatransitionto100%renewableenergyaretwokeystrategiestoachieveGHGemissionreductiontargets.Thereiswidespreadspeculationthatenergyefficiencyandenergy-savingtechnologieswillinevitablyencounterbottlenecksandthatthetimelineforsuchtechnologiesremainsuncertain.Therefore,acceleratingtheimplementationofrenewableenergydevelopmentisthemostdirectandeffectivewaytoreduceemissions.CompaniesshouldselectimpactfulREprocurementmethodstoincreasetheirREusageratio.Inthischapter,procurementmethodsavailableinChina,Japan,andSouthKoreaareintroducedtoassistcompaniesindevelopingimpactfulREprocurementstrategies.AgrowingnumberofChinesecompanieshavelaunchedemissionsreductionplansanddevelopedgreenelectricityrequirements.Chinaisstillintheearlystagesofpowermarketreformandtherearecurrentlyfourprimaryoptionsavailableforcorporategreenpowerprocurement:on-sitegeneration,RECs,PPA,anddirectinvestment.On-siteGenerationCompaniescanprocurerenewableenergybybuildingon-siteelectricitygenerationfacilities,suchasdistributedsolarprojects.Surpluspowergeneratedfromthefacilityissoldtothegrid.On-sitegenerationoffersclearadditionality,lowcost,andeaseofconstruction,buttherearealsolimitations.Thetechnicaldifficultyofdistributedprojectconstructionislow,theinvestmentscaleissmall,andforinfrastructuresuchasdatacenters,thepowergeneratedbyrenewableprojectsisusedonsite.However,todate,corporatedistributedrenewablesprojectsinChinahaveprimarilyconsistedofrooftopphotovoltaics.Theprojectvolumeisrelativelysmall,whichmeansitisdifficulttomeetthepowerdemandoflargeelectricityusers.Forthisreason,companiesshouldChinaRacetoGreenGreenpeaceCorporateRenewableEnergyProcurementMethods39considerimplementingdistributedrenewablesprojectsinconjunctionwithotherprocurementmethods.Example:In2017,JDLogisticsimplementedarooftopdistributedphotovoltaicpowergenerationsystematShanghaiAsiaNo.1IntelligentLogisticsPark.Thesolarcapacitywasofficiallyconnectedtothegridin2018andgenerated2,538,000kWhofelectricityin2020.47RenewableEnergyCertificates(RECs)ChinalauncheditsfirstvoluntarytradingplatformforRECsinJuly2017.Certificatesareawardedtorenewableenergygeneratorssuchasonshorewindfarmsandsolarpowerplants(excludingdistributedsolargenerators).TwotypesofRECsarecurrentlyavailableinChina:subsidizedandunsubsidized.SubsidizedRECsareissuedforprojectsthatwereconnectedtothegridpriorto2021.SubsidizedRECsarerelativelyexpensivebecausetheyareintendedtoreplacethegovernmentsubsidiesforrenewableenergyprojectsbefore2021.RECswithoutsubsidiesareissuedforsubsidy-freerenewableenergyprojectsafter2021,sothepriceismuchlower.48AsthescaleofunsubsidizedRECsgraduallyexpands,thepricewillcontinuetofall.TheprocessforpurchasingRECsisrelativelysimple.Consumerscanregisterandplaceanorderdirectlyonthenationalrenewableenergycertificateissuanceandvoluntarytradingsystem.Buyerscanchoosetopurchaseelectricityfromspecificwindpowerorphotovoltaicpowerstations.PPAsAselectricitymarketsopenup,companiescanalsoprocurerenewableenergyfromREproducersthroughanagreementknownasaPPA.OnSeptember7,2021,China’sgreenpowertradingpilotwasofficiallylaunched.Inthispilottradingscheme,state-ownedpowergenerators47.Environmental,SocialandGovernanceReport(2021),21.RetrievedOctober26,fromhttps://ir.jd.com/static-files/b83d0a39-6e0a-4984-825a-db55b86f104b48.CircularoftheNationalDevelopmentandReformCommissionandtheNationalEnergyAdministrationonactivelypromotingwindpowerandphotovoltaicpowergenerationtobesoldtogridwithoutsubsidyandatpar(NDRC,2019).RetrievedOctober26,fromhttps://www.ndrc.gov.cn/xxgk/zcfb/tz/201901/t20190109_962365.html?code=&state=123RacetoGreenGreenpeaceCorporateRenewableEnergyProcurementMethods40participateinthemarketasproducersandlarge-scaleconsumersareabletobuyelectricityfromthem.49Withthefurtherdevelopmentofthepilotmarket,privatepowergeneratorscanalsoparticipateintrading.Withgreaterscalability,pricesarelikelytofallfurther.PPAscanmeetlong-termandlarge-scaledemandforgreenpower,makingthemapowerfulgreenelectricityprocurementmethod.Example:GDSplanstopurchasewindandsolarpowerfromChinaGeneralNuclearPowerNewEnergywithinthenext10years,withatotalpurchaseofnolessthan2billionkWh.50DirectInvestmentCompaniescanbuildorinvestinoff-site,utility-scalerenewableprojects.Thismodeladdsrenewableenergypowergenerationinstalledcapacityonanationallevel,ratherthandirectlycontributingtoacompany’srenewableenergyuse.Enterprisescanalsoobtainacertainrateofreturnoninvestmentthroughpowerstationoperation.Giventhatotherpowerpurchaseoptionsarelimited,directinvestmentinrenewableenergyisaneffectivestrategyforlargecompaniestoparticipateingreenpowerprocurement.Example:In2016,AppleandGoldwindco-investedin285MWofwindprojectsinChina,withAppleassuming30%ownershipoftheprojects.51Theadvantages,challenges,andfeasibilityofvariousgreenpowerprocurementmethodsaresummarizedinfigure8.49.CNIFA.(2021).Sevencoreissuesofgreenpowerpilottransaction.RetrievedOctober26,fromhttps://mp.weixin.qq.com/s/emnMwsPmqNcSP2z1sS86uA50.Wang,L.(2021).GDSsignedalarge-scalegreenpowerprocurementagreementwithCGNNewEnergy.RetrievedOctober26,fromhttp://www.ce.cn/cysc/ny/gdxw/202109/08/t20210908_36894930.shtml51.Zhou,L.(2016).AppleexpandsitsnewenergylayoutinChina:takingsharesinfournewenergycompaniesunderGoldwindTechnology(Zhou,L.,2016).RetrievedOctober26,fromhttp://finance.sina.com.cn/stock/s/2016-12-07/doc-ifxypipt0504095.shtmlRacetoGreenGreenpeaceCorporateRenewableEnergyProcurementMethods41COST52ADDITIONALITY53FEASIBILITY5452.Howexpensiveitisforacompanytochoosethismethod.53.Increasenewrenewableenergyinstallationcapacity.54.Howeasyitisforthecompanytoadoptthismethod.JapanJapan’sgovernmenthaspledgedtoachievenetzeroby2050,andmanyJapanesetechcompanies,includingSony,Panasonic,andHitachi,havecommitedtoswitchto100%renewableenergywithinthistimeframe.InJapan,fouroptionsareavailabletosourcerenewableenergy:on-sitegeneration,renewableenergycertificates,greenelectricitytariffs,andPPAs.However,theeffectivenessofthesefourprocurementmethodsvaries.On-SiteGenerationConsumersinJapancaninvestincaptiverenewableenergyassetsandsourceelectricitydirectly.Themostcommonapproachforthissourcingmethodisrooftopsolar.Thisschemeoffersgoodeconomicvalueandadditionalitythatcancontributetonationalrenewablegenerationcapacity.However,thescaleofon-sitegenerationislimited,creatingpotentialchallengesfortechnologycompanieswithhighelectricitydemand.COSTADDITIONALITYFEASIBILITYOn-sitegenerationRECsPPAsDirectinvestmentFigure9.ComparisonofCorporateRenewableEnergySourcingMethodsinChinaRacetoGreenGreenpeaceCorporateRenewableEnergyProcurementMethods42GreenElectricityTariffsRenewableEnergyCertificatesCompaniesinJapancansourcerenewableenergythroughgreenelectricitytariffsofferedbyelectricityretailers.Existinghydropowerplantsaretheprimaryrenewablesourceforthisoption.Thepriceofthisoptionishigherthanregularelectricityrates.InJapan,fourtypesofrenewablecertificatesareavailable.CompaniescandirectlypurchaseJ-creditsandGreenEnergyCertificates,whichmeetRE100standards.Theothertwocertificates,non-FiTrenewableenergycertificatesandFiTcertificates,areonlyavailableforpurchasethroughlicensedelectricityretailers.JcreditsGreenEnergyCertiﬁcatesNon-FiTrenewableenergycertiﬁcateFiTcertiﬁcateenergycertiﬁcateTechnologiesEligiblebuyersSupplyvolumePriceHowtopurchaseNon-FitsolarCorporations899GWh(2020)390GWh(2019)11,200GWh441GWhCorporationsElectricityretailerElectricityretailerREprojects(biomass,hydro,solar,andwind)developedoutsideofFiTUpto10yen(2-3yenforlargepurchases)Auction,directpurchaseDirectpurchaseAuction,bilateralcontractsAuction0.84yen(averagebidinJune2020tender)Upto4yen1.3-4yenSolar,wind,biomassgeothermal,andhydrocoveredbyFiTLargehydro,post-FiTbiomass,andsolarFigure10.Japaneserenewableenergycertificates,datasourcedfromBNEF.5555.ProcurementmechanismsinJapan(BNEF,2020).RacetoGreenGreenpeaceCorporateRenewableEnergyProcurementMethods43PPAsCorporationsinJapancanpurchaserenewablesonalargescalebysigningPPAs.AlthoughsourcingrenewableenergythroughPPAshasbecomepopularamongcorporationsintheUSandEurope,PPAshavenotseenwidespreaduseinJapandueinparttostrictregulatoryrequirements.Forexample,Japan’sPPApolicyrequiresthatacorporateconsumeristheownerofanoffsiteprojectinordertopurchaseelectricityfromthatproject.56However,someglobaltechnologycompaniesthatoperateinJapan,includingAmazon,havesignedcontractstomeetlarge-scaleelectricityneedswithPPAs.PPAsarelikelytogainmoretractionasdemandfromcorporationsincreases.Example:In2021,AmazonsignedPPAswith22MWofsolarprojectsfromMitsubishisubsidiaryMCRetailEnergy.ThePPAswillhelpAmazontoreachitsgoalof100%renewableenergyuseworldwideby2030.57Before2021,self-installationwastheonlyavailableoptionforcompaniesinSouthKoreatopurchaseelectricitygeneratedfromrenewableenergysources.Almostallgeneratedelectricity(conventionalandrenewable)isaggregatedontheKoreaPowerExchange(“KPX”)andthensoldtoelectricityconsumersthroughtheKoreaElectricPowerCompany(KEPCO,thestate-runelectric56.ProcurementmechanismsinJapan(BNEF,2020).57.Swinhoe,D.(2021).AWSsignssolarPPAwithMitsubishiinJapan.RetrievedOctober26,fromhttps://www.datacenterdynamics.com/en/news/aws-signs-solar-ppa-with-mitsubishi-in-japan/COSTADDITIONALITYFEASIBILITYOn-sitegenerationRECsPPAsGreenelectricitytariffsSouthKoreaFigure11.ComparisonofCorporateRenewableEnergySourcingMethodsinJapanRacetoGreenGreenpeaceCorporateRenewableEnergyProcurementMethods44utility)withoutanycertificatesoforigin.TomeetgrowingdemandforrenewableelectricityandfollowtheglobalRE100trend,inJanuary2021,SouthKorea’sMinistryofTrade,Industry,andEnergy(MoTIE)introducedfiveadditionalmethodsforelectricityconsumerstoprocurerenewableelectricity:GreenPremiums(atypeofgreentariffofferedbyKEPCO),purchaseofRECs,equityinvestments,PPAsandthird-partyPPAs.Self-InstallationCompaniescangenerateandconsumeelectricityfromtheirowninstallationsattheirfacilities.Theycanthenapplyforacertificatetitled,ConfirmationofRenewableEnergyUsetotheKoreaEnergyAgency(KEA).Theycanalsoreceivegreenhousegasemissionreductioncreditsforself-installedrenewableenergycapacityundertheKoreaEmissionTradingScheme.EquityInvestmentElectricityconsumerscaninvestdirectlyinarenewablepowerprojectandsignathird-partyPPAtopurchasetheelectricitywithRECsfromthepowerstation.ThecorporateinvestorcanalsopurchaseRECsonly.GreenPremiumThegreenpremiumenablesindustryandcommercialelectricityconsumerstopayKEPCOapremium,whichisconsideredasapurchaseofrenewableelectricity.Consumersbidonthepremiumuntilthedesignatedamountissoldout.Thepremiumisatenderforannualelectricityconsumption,andthepaymentismadeeverymonth.RECsIndustrialandcommercialconsumerscanreceiverecognitionfortheuseofrenewableelectricitythroughthepurchaseofRECs.SinceAugust2021,theKEAhasoperatedadedicatedRECtradingplatformtwicepermonthforRE100implementation.BecausetheplatformisindependentfromtheRenewablePortfolioSystem(RPS),58RECsarenotdoublecountedandadditionalitycanbe58.RetrievedOctober26,fromhttps://www.kpx.or.kr/eng/contents.do?key=300RacetoGreenGreenpeaceCorporateRenewableEnergyProcurementMethods45securedeventhoughtheRECsarenotbundled.OnceanelectricityconsumerpurchasesaREC,theconsumercanthensubmitittotheRE100ManagementSystem.TheKEAthenissuesaConfirmationofRenewableEnergyUse.PPAsAPPAisacontractbetweenarenewableelectricityproducerandanelectricityconsumer.PPAsprovidelong-termpricesecurity,opportunitiestofinanceinvestmentsinnewpowergenerationcapacity,andthereductionofrisksassociatedwithelectricitysalesandpurchases.Therefore,PPAsareregardedasoneofthemosteffectivetoolstoexpandrenewableenergyuse.PPAsaccountedfor26%ofRE100members’sourcedrenewablepowerin2019.Third-PartyPPAUnderathird-partyPPA,KEPCOcollectselectricitygeneratedbyitssubsidiariesandindependentpowercompaniesandsellsitasasinglesource.Renewablepowerproducerswhosegenerationcapacityexceeds1megawattcansignatrilateralsupplyagreementbetweenKEPCOandaconsumersothatKEPCOcanrelaythepowertransaction.59Basedontheabovecontent,GPEAhasassessedrenewableenergyprocurementmethodsavailableinKoreaintermsofcost,additionality,andfeasibility.Figure12.ComparisonofCorporateRenewableSourcingMethodsinSouthKorea6059.WorldTodayNews.(2021).Fromthisyear,companiescanalsoprocurerenewableenergyinKorea–ScienceTimes.https://www.world-today-news.com/from-this-year-companies-can-also-procure-renewable-energy-in-korea-sciencetimes/60.ThechartisbasedonanalysisofcorporaterenewableenergysourcingmethodsinSouthKoreainOctober2021.Thereispotentialfordramaticchangesinthenearfuture,especiallytothecostandfeasibilityoftheseoptions,dependingondomesticelectricitymarketconditionsandchangestogovernmentprotocolandguidelines.COSTADDITIONALITYFEASIBILITYSelf-installationEquityInvestmentGreenPremiumRECsPPAsThird-partyPPARacetoGreenGreenpeaceCorporateRenewableEnergyProcurementMethods46CommonBarriersExternalBarriers•RegulatorybarrierstoPPAsinallthreecountriesremainasignificantobstacleforcorporationstomeettheirelectricitydemandwithrenewableenergy.ChinaAsChinahasopeneditselectricitymarketandlauncheditsgreenpowertradingpilotscheme,PPAsarebecomingavailableinatotalof25provinces.61Despitetheprogress,someuncertaintystillremainsregardingthetransactionprice,volume,andmarketaccessforcompanieswishingtosignPPAcontracts.JapanInmanycases,barrierstothepurchaseofPPAsinJapanconstraincompaniesfrommakinguseofthisoption.ThepriceofPPAsremainshighduetothepriceofsolarandwindinJapan.Inadditiontohighcosts,thedealstructurealsopreventscompaniesfromchoosingPPAsastheirprimarymethodforpurchaseofrenewableenergy.AccordingtoJapan’sPPApolicy,acompanymustownarenewableenergyprojecttobeabletosignanoff-sitePPA,whichhasresultedinpolicybarriersforcompanies.SouthKoreaSouthKoreaonlyopenedaccessforcorporationstopurchaserenewableenergyinearly2021.PPAsareperceivedasthemosteffectivemethodforthepurchaseofrenewableenergyinthecountry.However,renewableenergyconsumersareprohibitedfromsigningcontractsdirectlywithpowerplantsandmustinsteadpurchasefromKEPCO,creatingsomechallengesforbuyers.Inaddition,globalcompanieswhohaveleasedofficesinSouthKoreaareprohibitedfromjoiningPPAschemes,leadingthemtosourcerenewable61.BNEF(2021).ChinaCorporateCleanEnergyhandbook2021.RetrievedOctober26,https://www.bloomberg.com/news/articles/2021-09-17/china-s-corporate-clean-energy-market-sets-record-bnef-chartRacetoGreenGreenpeaceCorporateRenewableEnergyProcurementMethods47energythroughlessfavourableapproaches.62Finally,highsleevingfees,environmentalcharges,andpoliciesmandatingthatconsumerspurchasethetotalelectricityfromagivengeneratorrenderitdifficultforcompaniestosourcerenewablesthroughthisoption.63•BundledRECsAreNotWidelyAvailableinChina,Japan,andSouthKoreaRECsarethemostwidelyutilizedstrategyforrenewableenergyprocurementduetotheiraccessibility.However,themajorityofRECsavailableinthesethreecountriesareunbundled,whichmeansthattheenvironmentalandphysicalattributesareseperated.Companiesthatsourcerenewablesthroughthisoptiononlyreceivetheenvironmentalattributesofthecertificate,therebymakingitrarethatunbundledRECsleadtoanincreaseinnationalrenewableenergyconsumption.InternalBarriers•LowMotivationforCompaniestoPurchaseRenewableEnergyCompaniesintheregionremainunmotivatedtopurchaserenewableenergyforvariousreasons.First,companiesarenotawareofpotentialoptionsforrenewableenergyprocurement.Second,companieslackexpertiseinthearea.Finally,techfirmsinChina,Japan,andSouthKoreafaceinsufficientpressurefromgovernmentstotransitionto100%renewableenergyuse.Suggestions•TheChinese,JapaneseandSouthKoreangovernmentsmustremoveregulatorybarriersthatlimittheuseofPPAs.PPAsarethemosteffectivewayforcompaniestopurchaserenewableenergyatalargescale.•Thegovernmentsintheregionshouldintroducerelevantpoliciestourgetechcompaniestopurchaserenewableenergy.TechcompaniesinChina,Japan,andSouthKoreamusttakesignificantactiontoachievetheiremissionsreductiontargetsontime.62.RE100.(2021).TheriseofSouthKorea:isthemarketopenforbusiness?RetrievedOctober26,https://www.there100.org/our-work/news/rise-south-korea-market-open-business63.RE100.(2021).TheriseofSouthKorea:isthemarketopenforbusiness?RetrievedOctober26,https://www.there100.org/our-work/news/rise-south-korea-market-open-businessRACETOGREENGreenpeaceRECOMMENDATIONSRacetoGreenGreenpeaceRecommendations49TechcompaniesinChina,Japan,andSouthKoreamusttakesignificantactiontoachievetheiremissionsreductionstargetsontime.Settargetstoachieve100%renewableenergyacrossthesupplychainby2030.Themosteffectivestrategytoachievecarbonneutralityistoincreaserenewableenergyuse.Almost90%oftechcompanyGHGemissionscomefromelectricityusage,andincreaseduseofrenewablesisthemostaccessibleanddirectwayforcompaniestoreduceemissions.SetambitiousGHGemissionsreductiontargetsthatarenotreliantontheuseofcarbonoffsetsandincludetheentiresupplychain(scope3).TechfirmsshouldworktowardszeroGHGemissions,orasnearzeroemissionsaspossible.Theymustsetshort-termtargetsalongthewayandseektofirstcutemissionsascomprehensivelyaspossible.Weencouragecompaniestoprotectandrestoreecosystems,butcarbonoffsetsarenotasubstituteforthereductionoffossilfuelusage.Techcompaniesmustincludescope3emissions,orthecarbonfootprintoftheirsupplychain,whileissuingtheirownclimatecommitments.Supplychainemissionsareonaverage5.5timeshigherthancompanies’directemissions.64Chooseimpactfulrenewableenergyprocurementmethods,suchasPPAs,thataretrackableandcontributetonationalrenewableenergyinstalledcapacity.Companiesmustchooseimpactfulrenewableenergyprocurementmethods,suchasPPAs,whichleadtoanincreaseinnationalrenewableenergycapacity.Theselectionofimpactfulrenewableenergyprocurementmethodscanbothmeettechindustryenergydemandandcontributetotheregion’senergytransition.Discloseenvironmentaldataacrossthesupplychainbyabidingbyadata64.CDP.(2019).Supplychainsholdthekeytoonegigatonofemissionssavings,findsnewreport.RetrievedOctober26,fromhttps://www.cdp.net/en/articles/media/supply-chains-hold-the-key-to-one-gigaton-of-emissions-savings-finds-new-reportRacetoGreenGreenpeaceRecommendations50Disclosureframeworkthatincludesscope3emissions.CompaniescanabidebyadatadisclosureframeworklikeTCFD(TaskForceonClimate-RelatedFinancialDisclosures)andCDP(CarbonDisclosureProgram)toincreasetheirdatatransparency.Techcompaniesintheregionmustincreasetheireffortstodisclosescope3environmentaldata.Utilizestatusandplatformsasindustryleaderstoadvocateforrenewable,energy-friendlypolicies.Whenlargecorporationsvoicetheirdemands,policymakerslisten.Techcompaniesmustchallengeandengagepolicymakerstoremovethecurrentbarrierstorenewableenergyprocurementandstreamlinesolutions.RACETOGREENGreenpeaceAPPENDIXRacetoGreenGreenpeaceAppendix52MethodologyAboutselectedcompaniesCompanieswereselectedbasedonthreecriteria:-Top100digitalcompanies’listfromForbes65-Domesticmarketvalue-SocialimpactAboutdatacollectionAlldatainthisreportcomesfrompublicsources,includinginformationfromcorporatepublications(officialwebsites,annualreports,sustainabilityreports,ESGreports),newsmedia,andgovernmentinformationplatforms.GreenpeaceEastAsiaonlyselectedinformationsourcesthatthepubliccanobtaininformationonwithoutpayinganyfeesorsigningupformembership.Thedatacollectionperiodended30September,2021.Anydatapublishedafterthisperiodwasnottakenintoaccount.AbouttheEvaluationCriteriaTheresearchteamdevelopedascoringindextoreflecttheclimateactionoftechcompaniesinChina,Japan,andSouthKorea.Scoresreflectthefollowingfactors:1.Ambitiousnessofcorporateclimatecommitmentsandactions2.Thelevelofenvironmentalinformationdisclosure3.VariationsintheexternalenvironmentofChina,Japan,andSouthKorea,includingdifferencesinrenewableenergyprocurementpolicies.65.Top100DigitalCompanies.RetrievedOctober26,fromhttps://www.forbes.com/top-digital-companies/list/#tab:rankRacetoGreenGreenpeaceAppendix53Limitations:duetodataavailability,offsetsarenotincludedintherankingcriteria.However,companiesshouldavoidusingcarbonoffsetsasmuchaspossiblewhentheydesigntheirGHGemissionsreductionplan.Companiesshoulddisclosetheiruseofcarbonoffsets.Pleaseviewthetablebelowfordetailedscoringinformation.RacetoGreenGreenpeaceAppendix54ClimateCommitmentCompanieswillbeassessedonwhethertheyhaveissuedapubliccommitmentoncarbonneutralityand100%RE.ClimateActionCompanieswillbeassessedonwhethertheyhavetakenmeasurestouserenewableenergyandreduceenergyconsumption.EnvironmentaldatatransparencyCompanieswillbeassessedonwhethertheyhavedisclosedenergyuseinformationtothepublicorstakeholdersonapublic-facingplatform.Disclosurechannelsincludeannualreports,CSRorESGreports,ofﬁcialwebsitesetc.AdvocacyCompanieswillbeassessedbasedonwhethertheyhaveengagedincarbonneutralityandREprocurementondifferentlevels.Carbonneutralitycommitment:∙Hasacleartimeline∙Allofﬁcelocationsincluded∙Hasdetailedplanstoachieveit∙AllthreescopesincludedCommitmenton100%REprocurementby2030:∙Hasacleartimeline∙Allofﬁcelocationsincluded∙Hasdetailedplanstoachieveit∙SupplychainincludedRenewableenergyusagelevelandprocurementmethod:∙Renewableenergyusageratiodisclosed∙Procurementmethodsdisclosed,suchasdistributedphotovoltaicandwindpower,investmentinrenewableenergyprojects,market-basedprocurementofgreenpower,andpurchaseofgreencertiﬁcatesActionstakentoestablishagreensupplychain:∙EnsurethatsuppliersarepoweredbyrenewableenergyandimplementingGHGemissionsreductionmeasures∙Financialassistanceforcarbonreductionacrossthesupplychain∙ProvidetrainingforcarbonreductionacrossthesupplychainElectricityusagedata:∙Electricityuse∙Renewableenergydata∙Electricityuseonthebranch/regionalcompanylevelElectricityusagedata:∙Totalenergyusedisclosed∙Energyusagetypedisclosedacrossalloperations∙Energyusedisclosedonthebranch/regionalcompanylevelClimatemitigationdata:∙Climatemitigation∙Climatemitigationatthebranch/regionalcompanylevelPolicylevel:top-leveladvocacywithnational/regionalpolicymakersforrenewableenergyfriendlypoliciesPeerlevel:sharingexperiencewithotherbusinessesincarbonreductionandREprocurementCorporategovernance:establishmentofaworkinggroupattheseniormanagementleveltosupportcarbonneutralityworkCO2emissiondata:∙Scope1and2emissions∙Scope3emissions∙CalculationmethodTheadoptionofenergyefﬁciencyandcarbonreductionmeasures.Measuresinclude(butarenotlimitedto)energysavinginfacilities,informationsystems,airconditioning,powersupplyanddistributionsystems,lighting,etc.Weight35%Weight35%Weight20%Weight10%SCORINGDIMENSIONSCORINGPRINCIPLECompanyScorecardLink:https://docs.google.com/spreadsheets/d/1aoi3Q79CLwbBFa6OeOcnwEXBftu7UYUIPZpih-Nm-Ac/edit?usp=sharing

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