Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

What's the plan? Corporate polluters lag on setting climate goals

Stock MarketsJun 21, 2021 04:30AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. A Stop sign stands in front of the Neurath lignite power plant of German utility RWE, west of Cologne, Germany, January 16, 2020. REUTERS/Wolfgang Rattay/Files

By Patturaja Murugaboopathy and Simon Jessop

LONDON (Reuters) - Scientists say the world needs to cut greenhouse gas emissions by at least 45% by 2030 to have any hope of meeting Paris Agreement targets for the middle of the century and averting catastrophic warming.

Yet 41 of the world's 250 biggest corporate emitters - or 16% - are only just starting to assess their emissions, with no reduction targets set for any year, an analysis of data from research firm Signal Climate Analytics found.

And while many of the 250 companies have set targets for 2050, only 27 - or 11% - have laid out shorter-term plans to make major cuts by 2030, according to the data, compiled from corporate reports and other public disclosures.

This refers to reductions to their biggest source of emissions, often from the use of their products, or so-called Scope 3 emissions.

The 250 companies together account for more than a third of global emissions. Many campaigners say it is crucial for big polluters to set such interim targets so that authorities can gauge and drive global progress towards the Paris goals.

To try and accelerate action, the G7 group of wealthy nations this month backed moves to force companies to disclose their exposure to climate-related risks, raising pressure on them to put a plan in place to mitigate them.

"Without more incentives for 80% of the companies in these key sectors to disclose basic plans, we are unlikely to have the information necessary for markets and regulators to act constructively," said Tim Nixon, chief executive of data research firm Signal Climate Analytics.

The following graphics show the top emitters by market capitalisation in each sector and their progress on climate disclosures.

Climate disclosure - Consumer goods https://fingfx.thomsonreuters.com/gfx/mkt/jznvnweywpl/Climate%20disclosure%20-%20Consumer%20Goods.jpg

Climate disclosure - Capital goods https://fingfx.thomsonreuters.com/gfx/mkt/yzdpxmolzvx/Climate%20disclosure%20-%20Capital%20Goods.jpg

Climate disclosure - Utilities https://fingfx.thomsonreuters.com/gfx/mkt/qzjpqrkxdvx/Climate%20disclosure%20-%20Utilities.jpg

Climate disclosure - Transportation https://fingfx.thomsonreuters.com/gfx/mkt/yxmpjaozyvr/Climate%20disclosure%20-%20Transportation.jpg

Climate disclosure - Transportation https://fingfx.thomsonreuters.com/gfx/mkt/yxmpjaozyvr/Climate%20disclosure%20-%20Transportation.jpg

Climate disclosure - Energy https://fingfx.thomsonreuters.com/gfx/mkt/nmopaenxapa/Climate%20disclosure%20-%20Energy.jpg

Climate disclosure - Materials https://fingfx.thomsonreuters.com/gfx/mkt/dgkplngrepb/Climate%20disclosure%20-%20Materials.jpg

Climate disclosure laggards - China https://fingfx.thomsonreuters.com/gfx/mkt/xegpbrlaepq/Climate%20disclosure%20laggards%20-%20China.jpg

Climate disclosure laggards - India https://fingfx.thomsonreuters.com/gfx/mkt/xklpyamdopg/Climate%20disclosure%20laggards%20-%20India.jpg

Climate disclosure laggards - Energy https://fingfx.thomsonreuters.com/gfx/mkt/bdwvkxjempm/Climate%20disclosure%20laggards%20-%20Energy.jpg

What's the plan? Corporate polluters lag on setting climate goals
 

Related Articles

Wall Street closes rollercoaster week sharply lower
Wall Street closes rollercoaster week sharply lower By Reuters - Sep 17, 2021 12

By Stephen Culp NEW YORK (Reuters) - U.S. stocks ended sharply lower in a broad sell-off on Friday, ending a week buffeted by strong economic data, corporate tax hike worries, the...

U.S. NTSB to probe fatal Tesla crash in Florida
U.S. NTSB to probe fatal Tesla crash in Florida By Reuters - Sep 17, 2021

WASHINGTON (Reuters) - The U.S. National Transportation Safety Board (NTSB) will send a team to investigate a fatal Sept. 13 Tesla (NASDAQ:TSLA) crash in Coral Gables, Florida,...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email