How top companies source renewable energy — and get the most value for it

After entering into force in 2023 and undergoing a series of amendments, the EU Corporate Sustainability Reporting Directive (CSRD) now requires around 5,000 European companies to publish comprehensive sustainability reports. The first reports will be released in 2025, covering data from the 2024 fiscal year.

Covered companies still have some time to improve the share of renewables in their operations and reduce their carbon footprint before finalising their 2025 reports — and looking at what leaders in their sector are doing might help.

Ecohz analysed sustainability reports from companies that are setting the bar on climate action to draw inspiration and show how, if done correctly, ESG costs can be turned into business value.

Key findings from Ecohz’ analysis of sustainability reports

We set out to look at the actions of companies with rigorous sustainability governance, ambitious climate targets, and following international best practice. The analysis therefore focused on companies with a CDP A-score, SBTi-verified targets, and RE100 membership. All assessed companies have set clear targets to reduce greenhouse gas emissions and increase the share of renewable energy in their operations, both central pillars of their ESG strategies.

Common features include:

• Reporting is prepared at group level, consolidating data from global operations.
• Corporate groups typically apply centralised strategies with local execution, enabling them to adapt renewable energy procurement methods to local regulatory frameworks and available energy sources.
• Energy efficiency and reducing energy consumption are crucial first steps. The cleanest energy is the energy that is not consumed at all.
• Scope 3 is an important component of renewable energy strategies, including targets or expectations for renewable electricity uptake among suppliers, as well as toolkits and guidelines for value chain partners.
• Renewable gas certificates, such as Guarantees of Origin, are increasingly used to reduce Scope 1 emissions and costs related to the EU Emissions Trading System (ETS).
• Third-party verification and auditability are considered essential. All renewable energy claims must be supported by robust and reliable documentation.

How do leading companies source renewable energy?

Companies rely on a combination of procurement mechanisms to source renewable energy, including Power Purchase Agreements (PPAs) with bundled Energy Attribute Certificates (EACs), unbundled EACs, and self-generation assets such as rooftop solar installations. These instruments are often combined to create an energy mix tailored to each company’s operational footprint.

On average, the analysed companies apply a sourcing mix of less than 10% on-site generation, 0–60% off-site PPAs, and the remaining volume covered by unbundled EACs.

Unbundled EACs are often the first step in a renewable energy strategy, as they are relatively simple to procure and available worldwide. They also allow consumers to continue sourcing electricity from the grid while documenting its renewable origin in a way that is recognised by leading sustainability standards and reporting schemes such as RE100, CDP, and the CSRD.

Where do leading companies diverge?

Although there are commonalities in how global corporates procure renewables, their differences highlight the importance of adapting strategies to the realities of each sector and company.

For example, Adidas, the German sports goods brand, follows a clear hierarchy: energy efficiency, on-site generation, PPAs, and unbundled EACs where other alternatives are constrained. However, the company remains adaptable, recognising policy barriers in sourcing countries. Adidas also has highly structured guidelines for its suppliers — stating requirements and acceptability criteria for renewables — which are applied globally.

Other companies, like Danone, take a more site-by-site approach, emphasising solutions such as fuel switching, cutting methane emissions — a major source of GHG output in the agricultural sector — and building solar installations with the goal of maintaining a 100% renewable energy supply.

Capgemini, an IT consultancy and RE100 member, has rapidly scaled its share of renewable energy, increasing from 28% in 2019 to 98% in 2024. The company aims to achieve 100% renewable energy in 2025 using a combination of PPAs and EACs where energy supplies “are controlled by the landlord, or in countries where our consumption is too low for a PPA to be a viable option.”

The financial relevance of sustainability

An increasing body of evidence suggests that sustainability initiatives are no longer viewed solely as compliance exercises, but as contributors to financial performance.

In a recent survey, Forbes Research found that 67% of senior executives rank sustainability among their top three priorities, a dramatic increase from 22% just three years ago. This shift is translating into action: 89% of business leaders say they intend to boost spending on sustainability initiatives, with renewable energy procurement and greenhouse gas reduction among their most important focus areas.

A global study led by Morgan Stanley shows that 88% of companies view sustainability as an engine for value creation, while 83% report that the financial returns from sustainability initiatives are just as quantifiable as those from traditional investments. Companies associate these efforts with concrete benefits, including stronger profitability, lower financing costs, improved cash-flow predictability, and reduced capital requirements.

Improving your 2025 energy consumption mix

Companies still have time to improve their share of renewable energy before finalising their 2025 sustainability reports.

Businesses with global energy consumption usually use the first quarter of the year to gather market-based documentation of renewable energy share (meaning EACs, such as Guarantees of Origin) to be included in the previous year’s report.

This period is also the last opportunity to source outstanding EAC volumes, as many countries have deadlines to prepare EAC documentation at the end of the first quarter following the consumption year.

How can Ecohz help?

Ecohz can provide companies with Energy Attribute Certificates (EACs) worldwide in time to be included in their 2025 sustainability reports.

Our team of advisors can tailor renewable energy solutions for clients worldwide, combining EACs, PPAs, and other sustainability solutions to deliver an optimal energy mix and enable businesses to confidently communicate their use of renewables.

Additionally, Ecohz offers EAC Management and Energy & GHG Reporting services to streamline the handling of renewable energy documentation and ensure that sustainability reporting activities — whether voluntary or mandatory — deliver maximum business value.