RE100 companies outperform rivals

25th September 2018


Web eco profit istock 876686850

Related Topics

Related tags

  • Business & Industry ,
  • Renewable

Author

Paul Norman

Companies that source 100% renewable energy are consistently more profitable than those that don’t, according to analysis of 3,500 firms by The Climate Group.

In a report released today, the group reveals how RE100 members outperform non-members by 0.3% to 7.7% for net profit margin and earnings before interests and taxes (EBIT) across all sectors.

These members have all committed to sourcing 100% renewable energy, with the latest findings thought to demonstrate a “direct correlation” with above-average financial performance.

This comes as government ministers, investors, governors, CEOs and mayors descend on New York City for the Climate Week NYC 2018 event to discuss future environmental policy.

Speaking at the event today, The Climate Group CEO, Helen Clarkson, said: “Being energy-smart and business-smart goes hand in hand, and this has to be the norm sooner rather than later to keep warming well below 2˚C.

“We congratulate those going further and faster on climate action and we urge others to do the same – a win-win for emissions and the bottom line.”

The RE100 is a global initiative uniting influential businesses committed to 100% renewable electricity, and working to massively increase demand and delivery of renewables.

It was also announced today that seven firms from seven different countries have become new RE100 members, including Latin America’s Grupo Bimbo and Turkey’s Gürmen Group – the first companies to join from these two nations.

Other new joiners include France’s Decathlon, India’s Club Mahindra Holidays, Japan’s Fuyo General Lease Co., Ltd., The US’ Lyft, and Taiwanese skincare company TRIDL.

These new additions bring total membership of the RE100 to 152 companies, representing $3.8trn (£2.9trn) in revenue, and creating demand for over 184 TWh of renewable energy per year.

Gürmen Group chairman, Remzi Gür, said: “Gurmen Group aims to become one of the industry leaders on environmental issues and the commitment of using 100% renewable electricity is the proof of this purpose.

“We are pleased to join the RE100 initiative and be the pioneer for our country – we hope these first steps will influence new firms in Turkey.”

Image credit: iStock

Subscribe

Subscribe to IEMA's newsletters to receive timely articles, expert opinions, event announcements, and much more, directly in your inbox.


Transform articles

UK’s CCUS strategy based on outdated assumptions, government warned

The UK government’s carbon capture, usage and storage (CCUS) strategy is based on optimistic techno-economic assumptions that are now outdated, Carbon Tracker has warned.

13th March 2024

Read more

The UK’s new biodiversity net gain (BNG) requirements could create 15,000 hectares of woodlands, heath, grasslands, and wetlands and absorb 650,000 tonnes of carbon each year.

13th March 2024

Read more

The UK government’s latest Public Attitudes Tracker has found broad support for efforts to tackle climate change, although there are significant concerns that bills will rise.

13th March 2024

Read more

Multinational corporations are undermining their net-zero commitments with excessive air travel and no plans to reduce ‘the low hanging fruit’ of carbon footprints, a study by Transport & Environment has found.

13th March 2024

Read more

The UK government’s climate adaptation plans are ‘inadequate’ and falling ‘far short’ of what is required, the Climate Change Committee (CCC) has warned today.

13th March 2024

Read more

Large businesses across the world are avoiding climate action due to fear they will be called out for getting their work wrong, according to a new Carbon Trust report.

29th February 2024

Read more

A thought-provoking discussion on how storytelling can change the world took place in Central London last night, alongside an exclusive sneak preview of an upcoming IEMA film series.

29th February 2024

Read more

The UK’s net-zero economy grew 9% last year while delivering higher paid jobs than average and attracting billions of pounds in private investment, analysis by CBI Economics has uncovered.

28th February 2024

Read more

Media enquires

Looking for an expert to speak at an event or comment on an item in the news?

Find an expert

IEMA Cookie Notice

Clicking the ‘Accept all’ button means you are accepting analytics and third-party cookies. Our website uses necessary cookies which are required in order to make our website work. In addition to these, we use analytics and third-party cookies to optimise site functionality and give you the best possible experience. To control which cookies are set, click ‘Settings’. To learn more about cookies, how we use them on our website and how to change your cookie settings please view our cookie policy.

Manage cookie settings

Our use of cookies

You can learn more detailed information in our cookie policy.

Some cookies are essential, but non-essential cookies help us to improve the experience on our site by providing insights into how the site is being used. To maintain privacy management, this relies on cookie identifiers. Resetting or deleting your browser cookies will reset these preferences.

Essential cookies

These are cookies that are required for the operation of our website. They include, for example, cookies that enable you to log into secure areas of our website.

Analytics cookies

These cookies allow us to recognise and count the number of visitors to our website and to see how visitors move around our website when they are using it. This helps us to improve the way our website works.

Advertising cookies

These cookies allow us to tailor advertising to you based on your interests. If you do not accept these cookies, you will still see adverts, but these will be more generic.

Save and close