This transition will help address how carbon-free electricity is deployed, and offer an actionable next step to businesses pursuing ambitious clean electricity strategies.
The Coalition was launched today (Tuesday 23 June) at Climate Group’s Opportunity Summit, an event for senior leaders in business, government and civil society in partnership with the Mayor of London as part of London Climate Action Week.
New data, published by Granular Energy for London Climate Action Week, highlights the pace of change with more than 1,500 businesses globally recording their electricity ‘hourly matched’ – a threefold increase compared with the same period last year. Globally, the data shows a 4x increase in the number of energy suppliers offering hourly matching tariffs within the last year, with UK energy suppliers leading the way with the highest number of hourly tariffs available of any country.
The transition to hourly matching – sometimes considered complex and expensive – is becoming more mainstream. Specialist platforms now make it much easier for companies to measure and track their progress, whilst costs are falling for carbon-free power generation and battery storage.
For businesses, the value goes beyond reducing emissions. Integrating hourly matching principles within procurement strategies drives greater price stability, and better visibility of where and when electricity is consumed helps optimize its use.
24/7 carbon-free electricity is rapidly changing from specialist practice, only undertaken by a handful of companies, to more mainstream procurement, which will change how electricity will be bought and sold in future.
Credible reporting based on first-of-its-kind expert technical guidance
As pressure on global energy systems grows, 24/7 carbon-free electricity offers companies a practical route to align consumption with time-matched clean sources, while supporting long-term cost reductions by signaling demand for firm, flexible carbon-free solutions.
Climate Group’s 24/7 Carbon-Free Coalition brings together businesses to support how energy procurement is shaped, with peer networking, knowledge sharing and technical advice.
The Coalition will support businesses to measure and report hourly clean energy matching and make progress toward decarbonization of their operations. This will position companies to better navigate evolving clean energy markets and international reporting standards, and play a leading role in building a more resilient, future-ready global energy system.
Helen Clarkson, CEO of Climate Group, said:
"The energy transition is entering a new phase, with businesses looking beyond annual renewable matching to invest in solutions that can deliver carbon-free electricity around the clock. There’s been so much discussion recently about 24/7 carbon-free electricity, we’re so pleased that new world-leading companies are joining the Coalition, working together to explore how it works in practice and what advantages it might give through better insight into their electricity use, preparation in facing energy price shocks, and helping call time on fossil fuels.”
Rianne Buter, Unilever’s Global Head of Sustainability, said:
“Joining the 24/7 Carbon-Free Coalition will give Unilever access to expertise and best practice approaches to building a more granular understanding of when and where carbon-free electricity is available and how this aligns with our demand in the markets we operate within. Using this data to evolve our electricity demand and procurement strategies will ensure we stay one step ahead of the rapid changes which many electricity systems are undergoing. By sharing our own progress and learnings, in partnership with other international businesses, we hope to be able to prove the business case and inspire more corporates to follow suit.”
Kate Brandt, Chief Sustainability Officer, Google, said:
"Climate change is a shared challenge we must address together. It’s all about collaboration. At Google, we have learned a lot of lessons as we’ve made progress in advancing 24/7 carbon-free energy. We want to share those insights with companies embarking on a similar journey, while also learning from other clean energy leaders. That’s why we’re excited about being a member of the 24/7 Carbon-Free Coalition.”
ENDS
Notes to Editors
- The new partners of the 24/7 Carbon-Free Coalition (Cathay Financial Holdings, Cathay Life, Princeton Digital Group and Unilever) will be announced today (Tuesday 23 June) at Climate Group’s Opportunity Summit, supported by the Mayor of London, which will focus on urgent decisions Europe is facing to strengthen its competitive position and its clean, homegrown energy supply.
- 24/7 Carbon-Free Electricity means sourcing carbon-free electricity that is time matched (hourly or sub-hourly) from where it is consumed.
- Data sources: Granular Energy and Baringa survey on hourly matching. Additional data sourced from the Granular Energy platform.