(NEW YORK)

A report released this week reveals companies committed to 100% clean power are outperforming those that haven’t yet made the pledge.

According to the RE100 report, carried out with Capgemini Invent, and published during the current Climate Week New York City –  – the net profits of corporates on the clean energy train are 7.7% higher. RE100 is an initiative where big business says yes to 100% clean electricity; it is led by The Climate Group in partnership with CDP.

 

“Being energy-smart and being business-smart goes hand in hand and this has to be the norm, sooner rather than later to keep warming well below 2 degrees Celsius. 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,” said Helen Clarkson, CEO The Climate Group.

 

Meanwhile, the  takes place today, an event that is being hosted by the President of France, Emmanuel Macron; Secretary-General of the United Nations, António Guterres; President of the World Bank Group, Jim Yong Kim; and UN Special Envoy for Climate Action, Michael R. Bloomberg. Expect big announcements from the summit.

 

The  tweeted that it will have major news at the . Watch the announcement live at 2pm ET.