Corporate Climate Pledges Sprouting Like Weeds - But 9,300 Companies Still On Track To Break 1.5C

[hatrack]

EDIT

Global emissions are rebounding post-pandemic and 2023 is on track to see the highest levels of CO2 emissions in human history, according to the International Energy Agency. Despite the record number of corporate climate pledges, an analysis of 9,300 listed companies from index provider MSCI published in July found that they are still on course to exceed their “carbon budgets” – the total amount of emissions they can release and still keep in line with 1.5C of warming – within the next six years.

This finding highlights the need for these companies to “dramatically accelerate climate action”, said Remy Briand, head of environmental, social and governance at MSCI. “It is easy to say that becoming net-zero is a high priority, but it is another to take action, especially immediate action.” While some companies have placed climate change at the top of their agenda, he added, others have made weak pledges or failed to act at all. “For those not matching their commitments or lagging, there should be nowhere left to hide.”

Analyzing what companies are actually doing, however, can be painstakingly difficult when there is no requirement to disclose all key climate information and little consistency in corporate pledges making it all but impossible to benchmark progress. The changes required are so vast that many companies struggle to even articulate them. In an evaluation of some of the world’s largest greenhouse gas emitters, the investor engagement group Climate Action 100+ found no company has fully disclosed how it plans to reach net zero.

With many corporate net zero pledges still several decades out, often with few interim targets, monitoring their effectiveness can be hard. “We cannot wait for 2050 to see whether we fulfil the commitments or not,” said Gonzalo Muñoz, UN high champion on climate for Cop25. “It’s what we do today, and in these next five to 10 years, that will determine whether we succeed or not.”

EDIT

https://www.theguardian.com/environment/2021/jul/26/climate-crisis-green-light

[bucolic_frolic]

1. I say to people

Think. Buy less. Find good homes for your excess items that are unneeded. Reduce a trip here or there. Put the squeeze on activities that cause emissions. I know, easier said than done. Think.

[-misanthroptimist]

2. There's still a buck or two left before the Collapse

No use leaving money on the table, right? Although, it's not like money is going to mean anything in a couple of decades. So maybe we're just being stupid.