The REscale business solution is part of the Low Carbon Technology Partnerships initiative (LCTPi), which has brought together almost 100 global businesses with nearly 50 partners to work collaboratively on solutions to the climate challenge. The objective of the LCTPi is to catalyse actions to accelerate low-carbon technology development and scale up the deployment of business solutions, to a level and speed that are consistent with the objective of limiting global warming to below 2ºC compared to preindustrial levels.
Under the REscale initiative, leading companies worked during 2015 to develop a vision for renewable energy. The group shares the ambition that renewable energy is reliable and increasingly competitive and that 1.5 TW of additional capacity can be deployed before 2025. REscale works to scale up deployment by improving renewable integration and removing barriers to finance. The number and range of companies in the group grew throughout 2016 and now includes global leaders across energy generation, technology and corporate procurement in the renewables sector.