One in five of the world’s 2,000 largest publicly listed companies have now committed to a net-zero emissions target to help tackle climate change. A report by the UK-based environmental organisations Energy & Climate Intelligence Unit and Oxford Net Zero shows that companies representing nearly $14 trillion in sales have promised to cut their planet-heating emissions to net-zero by 2050. It also found countries representing 61% of global emissions have announced net-zero targets. However, similar to yesterday’s Climate Action 100+ benchmark the research revealed many pledges are yet to be backed up by transparent and robust steps. Only 20% of targets by governments and companies meet the basic criteria for credible net-zero plans set out by the UN-backed ‘Race to Zero’ campaign, which could be an indicator of greenwashing..

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Reuters