Corporate climate commitments improving, with exceptions: Just Capital

Jose A. Bernat Bacete | Moment | beautiful pictures

The vast majority of Americans support both corporate climate transparency as well as federal requirements for companies to disclose their climate data, from emissions to emissions reductions to sustainability program and climate commitments. But even though many corporations are improving their climate commitments, some sectors are still lagging regretfully, according to a new report. New report from Just Capitaltrack companies in the Russell 1000.

The number of companies committing to net zero emissions by 2050 will more than double from year to year, from 102 to 238. In terms of emissions commitments, this number has increased from 412 to 498, until This is the strongest type of commitment.

The company’s commitments to reduce emissions enough to maintain precise global warming targets are much lower, but the benefits are still promising. Companies with goals verified by the Science Based Targets Initiative (SBTi) to meet the 2-level scenario will double between 2022 and 2023, from 25 to 45. most ambitious commitment, a 1.5 degree SBTi scenario has been verified, 83 companies will become verified, up 21% year over year.

Martin Whittaker, CEO of Just capital. “But as we know there is still reluctance to accept these commitments at face value. We’ve seen net zero commitments double and science-based targets as well. increased, but they don’t necessarily focus on highly polluting industries, where action should be focused, of course.”

While net zero targets typically have one year as the finish line, they do not commit to specific reductions in global warming. Whittaker notes that has raised some worries that companies will just wait until the last minute to work towards these commitments and not focus on what they can do right now.

“However, all the companies that set goals for 2050 have also set interim goals – which will be targets for stakeholders to gauge their progress and drive more change. if they don’t make progress,” he added.

The report found that companies in lower-emissions industries such as clothing, accessories and personal products had a share of SBTi commitments greater than 1.5 degrees, while high-emissions industries such as utilities and oil gas has almost no active commitment.

Whittaker adds: “Clothing brands and other consumer-facing industries such as personal products may experience a boost from their consumer base. Our poll shows found the American public interested in climate disclosures by companies.” He cited other recent polls from Edelman shows that more than 60% of consumers choose, switch or boycott brands based on their stance on social issues.

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