Some of the world's biggest companies have made climate targets that will have only a limited impact on their actual greenhouse gas emissions, a report has found.
, the Corporate Climate Responsibility Monitor, found just three had a plan that would lead to decarbonisation of more than 90% of the emissions from their full value chain.
Of the companies, 12 had no specific emission reduction commitment, said the report, conducted by German climate research body the NewClimate Institute in collaboration with the nonprofit Carbon Market Watch.When combined, the 25 companies had pledged to cut less than a fifth of the 2.7 gigatonnes of emissions they were responsible for in 2019 by their various target years, it said.
"We set out to uncover as many replicable good practices as possible, but we were frankly surprised and disappointed at the overall integrity of the companies’ claims” said Thomas Day of NewClimate Institute, lead author of the study. "As pressure on companies to act on climate change rises, their ambitious-sounding headline claims all too often lack real substance, which can mislead both consumers and the regulators that are core to guiding their strategic direction. Even companies that are doing relatively well exaggerate their actions."Reporting by Simon Jessop in London Editing by Matthew LewisSubscribe to our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
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