RES publishes ‘Power for Good’ 2023 Sustainability Report

• In 2023, RES helped avoid 23 million tonnes of CO2 emissions – the equivalent to the amount absorbed by 1,073 million trees, which would make a forest equivalent to twice the size of Istanbul
• RES has made significant progress towards its environmental, social and business sustainability commitments, in alignment with global standards
• Company sets long-term sustainability targets to 2050, embedding them fully into business strategy

15 July 2024, Hertfordshire, UK – RES, the world’s largest independent renewable energy company that supports 41GW of operational assets globally, has released its full-year 2023 Global Sustainability Report, ‘Power for Good’.

In 2023, RES’ development and construction activities helped avoid more than 23 million tonnes of carbon dioxide emissions[1], the equivalent to the amount absorbed by 1,073 million trees, which would make a forest equivalent to twice the size of Istanbul.

The report outlines how RES is achieving its vision of a future where everyone has access to affordable, zero carbon energy, by embedding environmental, social and governance activities across the business. RES has identified core areas where it can have the greatest impact: environmental stewardship; social responsibility; and governance, health and safety, ethics and operational excellence across all of its business practices.

RES CEO, Eduardo Medina, said: “We are proud to be at the forefront of the global energy transition as the world’s largest independent renewable energy company. RES places its commitment to sustainability at the heart of all we do. As we rapidly scale the business, these commitments are central to RES’ values and the way we support project requirements, innovate digital services to enhance efficiencies for our customers, and deliver value to local communities. RES’ sustainability principles are founded in our values of collaboration, passion, accountability and excellence. Through our work and across all areas of our business, we seek to make a positive contribution to society, industry and the environment.”

RES currently supports 41GW of operational assets globally, and over its 40+ year history has developed and/or constructed 26GW of renewable assets – enough to power 25 million homes for a year[2].  It has a development pipeline of 22GW across a range of renewable technologies, due to come to market within the next five years.

The ‘Power for Good’ report outlines RES’ sustainability strategy and 2050 outlook. Highlights include:

Environment

• Near-term 2030 and long-term 2050 greenhouse gas emissions reductions targets approved by SBTi; improved rigour and depth of emissions data collection processes.
• Building a net zero roadmap, focused on reducing emissions across owned vehicles and equipment, managed facilities, the supply chain and travel.

Social

• First organisation to receive Platinum status from the Solar Energy Industries Association for Diversity, Equity and Inclusion efforts.
• 2,059 hours of volunteering and over £260,000 donated to charities and organisations nominated by RES people.

Business

• Strengthened global service offering through acquisitions of IMFutureRe in 2023, and Ingeteam Services in 2024, creating the largest technology agnostic provider of support services solutions.
• Supply chain sustainability audit to map sustainability and traceability across technology supply chain.

Click here to read the full report.

[1] Calculated using the IFI harmonised approach to GHG accounting method

[2] According to the electricity consumption of a typical UK household, RES Power for Good Report 2024

About RES

RES is the world’s largest independent renewable energy company, working across 24 countries and active in wind, solar, energy storage, biomass, hydro, green hydrogen, transmission, and distribution. An industry innovator for over 40 years, RES has delivered more than 26 GW of renewable energy projects across the globe and plans to bring more than 22 GW of new capacity online in the next five years.

As a service provider, RES has the skills and experience in asset management, operations and maintenance (O&M), and spare parts – supporting 41GW of renewable assets across 1,300 sites.  RES brings to the market a range of purposeful, practical technology-based products and digital solutions designed to maximise investment and deployment of renewable energy.

RES is the power behind a clean energy future where everyone has access to affordable zero carbon energy bringing together global experience, passion, and the innovation of its 4,500 people to transform the way energy is generated, stored and supplied. Visit: www.res-group.com

Media contacts

RES
Rachel Anderson
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FTI Consulting
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