Climate Week NYC: RE100 releases exclusive figures, reveals new members

By Olivia Minnock
RE100, the global initiative for companies to commit to 100% renewable energy, has released a new report regarding the financial pe...

RE100, the global initiative for companies to commit to 100% renewable energy, has released a new report regarding the financial performance of its members, as well as welcoming some new companies to its now extensive, high-profile list.

This report has been announced as part of Climate Week NYC 2018, which is convened by the Climate Group to bring together businesses and government leaders from around the world to advance climate action. The Climate Group is a non-profit organisation behind RE100.

RE100’s report, which was produced in conjunction with Capgemini Invent and draws on 2016-17 data from a sample of 3500 companies, highlights that RE100 member companies enjoy “above average financial performance”.

See also:

Vodafone joins RE100, aims to use 100% renewables by 2025

Energy Digital looks at the top 10 most sustainable companies

Read the latest issue of Energy Digital magazine!

The report stated that “RE100 companies are more profitable than their peers” and that those businesses who are members of the initiative consistently perform better than those who are not. Two key financial indicators cited for this conclusion were net profit margin and EBIT (Earnings Before Interests and Taxes).

“The difference is significant (up to 7.7 percentage points) and is true across all sectors (most prominently for IT, telecommunications, construction and real estate),” says RE100.

RE100 has welcomed seven new members in total, including its first members from Turkey and Latin America. Turkish company Gürmen Group operates across several sectors from retail to mining and energy, and exports to over 60 countries around the world.

Meanwhile, Grupo Bimbo is a world-leading bakery company, which is headquartered in Mexico and is present across the Americas, Asia, Europe and Africa. Grupo Bimbo will now target 100% renewable energy across its geographies by 2025, and has set itself the goal of 80% by 2020. By 2019, the business hopes to be saving 440,000 tonnes of CO2 emissions globally each year.

The other additions to the initiative this week are Japanese company Fuyo General Lease Co, Mahindra Holidays & Resorts India, TRIDL, Decathlon and Lyft.

The companies join notable existing organisations, such as WeWork, RBS, McKinsey and Sony which joined this month, and longer-standing participants Vodafone, Visa and T-Mobile.




Featured Articles

5 minutes with Stuart Broadley, Energy Industries Council

EIC CEO Stuart Broadley reveals the challenges that lie ahead for oil and gas firms now net zero is becoming an increasingly important goal for businesses

SAP: Is 'complex' wind energy supply chain slowing adoption?

SAP digital supply chain and manufacturing expert Darcy MacClaren warns complex logistics and complicated regulations are limiting wind energy adoption

Decentralised energy key to circumventing grid delays

Aggreko is advising the sector to consider short to mid-term decentralised energy solutions as an effective means of maintaining business continuity.

Renewable energy to become top source of electricity by 2025

Renewable Energy

Nuclear energy — the unsung hero of the climate challenge

Renewable Energy

UK and US announce energy partnership

Oil & Gas