Utility Bidder’s Renewable Ready Index

In this report, experts at Utility Bidder examine the potential of countries to fulfil their Net Zero goals. This evaluation is carried out using a ‘Renewable Ready Index’, which assesses the performance of the countries based on the current and past condition, as well as the upcoming plans of their energy industries.

World's climate crisis

In recent years, the world has been seeing record temperatures being reached, seeing sea levels rise whilst the ice caps and glaciers deplete - but why? Greenhouse gas and carbon emissions are the main factors contributing to this increasing global warming and have detrimental effects on the health of the planet and those who inhabit it. As individuals, we can be told what we can do to make a difference. Still, it is essential to acknowledge that it will not be until the large corporations and country-based actions are implemented that change will become positive and beneficial, leading to a healthier planet with a life span to outlive generations to come. This is why Utility Bidder has developed the renewable ready index, to allow for the world's biggest polluters to be revealed, alongside those who are most net-zero ready.

What is Net Zero?

The term 'net zero' refers to the goal of reducing overall greenhouse gas emissions caused by humans to as close to zero as possible. Achievement of net zero emissions can be seen when overall emissions are either reduced or balanced out by carbon removal, such as from re-absorption via forests or the ocean. Therefore, by reducing the usage of fossil fuels, and replacing them with renewable sources, the levels of carbon emissions will dramatically decrease and the path to net zero will become clearer. Fossil fuels include coal, gas and oil, whereas renewable sources refer to hydropower, solar power and wind power for generating electricity.

The goal for over 70 countries is to reach net-zero emissions by 2050 – this will mean that their current emissions must be reduced by 45% by 2030 for this goal to be achieved.

The importance of Net Zero commitments