Accurate, Focused Research on Law, Technology and Knowledge Discovery Since 2002

Corporate Climate Responsibility Monitor 2022

The Corporate Climate Responsibility Monitor evaluates the transparency and integrity of companies’ climate pledges.Companies around the world are increasing alert to the climate emergency. They face calls from a growing range of stakeholders to take responsibility for the impact of their activities. Most large companies now have public climate strategies and targets, many of which include pledges that, on the face of it, appear to significantly reduce, or even eliminate, their contributions to global warming. The rapid acceleration of corporate climate pledges, combined with the fragmentation of approaches means that it is more difficult than ever to distinguish between real climate leadership and unsubstantiated greenwashing. This is compounded by a general lack of regulatory oversight at national and sectoral levels. Identifying and promoting real climate leadership, and sorting it from greenwashing, is a key challenge that, where addressed, has the potential to unlock greater global climate change mitigation ambition.The Corporate Climate Responsibility Monitor assesses the climate strategies of 25 major global companies, critically analysing the extent to which they demonstrate corporate climate leadership (Section A, summarised in Figure S1). We evaluate the integrity of climate pledges against good practice criteria to identify good examples for replication, and highlight areas where improvement is needed (Section B, summarised in Figure S2).We assess and draw insights on transparency and integrity in four main areas of corporate climate action: • Tracking and disclosure of emissions (section A1)• Setting emission reduction targets (section A2)• Reducing own emissions (section A3)• Climate contributions and offsetting claims (section A4). The 25 companies assessed in this report are major multinational companies. They reported combined revenues of USD 3.18 trillion in 2020, approximately 10% of the total revenue from the world’s largest 500 companies. Their total self-reported GHG emission footprint in 2019, including upstream and downstream emissions (scope 3) that may include a moderate level of overlap, amount to approximately 2.7 GtCO2e. This is equivalent to roughly 5% of global GHG emissions.”

Sorry, comments are closed for this post.