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As the annual Climate Week NYC launches today, more companies are announcing their commitment to carbon emissions reduction targets. And they are doing so through using the guidelines set by the Science Based Targets initiative, which provides a framework that its supporters say can help companies stay competitive while doing their part to mitigate climate change.

Announced today at Climate Week NYC 2017 in New York, global financial institutions Citi and JPMorgan Chase & Co. have joined The Climate Group's RE100 campaign with CDP, committing to source 100% renewable power across their global operations by 2020. Other companies joining the RE100 initiative are one of the fastest-growing beverage companies, Califia Farms, and UK investment management company Jupiter Asset Management. The announcements follow news last week that The Estée Lauder Companies, Kellogg Company, DBS Bank and Clif Bar & Company have also joined RE100. 110 of the world's most influential companies are now generating demand for over 150 TWh renewable energy annually - more than enough to power New York State.

When it comes to the private sector's efforts to curb climate change, the rubber hit the road at New York Climate Week. Companies and their nonprofit partners announced numerous milestones and hosted discussions throughout the city to translate lofty goals into action. Meanwhile, new initiatives were launched to deepen collaboration among the private sector, governments and civil society.

Despite all of the hubbub and calls to action from business leaders around Climate Week NYC and the release of the UN Sustainable Development Goals (SDGs), corporate minds at large may not be drinking the Kool-Aid: Survey results released this week reveal that even in companies with sustainability commitments, about one-third of business leaders believe that a new agreement from COP21 in December will have little to no significance for their business, and only one-third believe their company will use the SDGs to set goals.