• Home
  • News
  • In-depth
  • Opinion
  • Energy
    • Wind
    • Marine
    • Solar
    • Biomass
    • Nuclear
    • CCS
    • Infrastructure
  • Policy
    • Politics
    • Legislation
    • Taxation
  • Management
    • Marketing
    • Risk
    • Skills
    • Incentives
    • Carbon Accounting
  • Technology
    • Waste
    • Recycling
    • R&D
    • Efficiency
    • IT
  • Investment
    • Carbon Trading
    • Offsets
    • Venture Capital
  • Net Zero Now
  • Events & Awards
  • SDG Hub
  • Industry Voice
  • Newsletters
  • Sign in
  •  
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
    • You are currently accessing BusinessGreen via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0) 1858 438800

      Email: [email protected]

      • Sign in
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
    • Facebook
    • YouTube
    • Instagram
  • Free Trial
  • Subscribe
  • Events & Awards
    • Upcoming events
      event logo
      NZF Pathway - Finance

      This exclusive half day online event will investigate how all businesses can support and accelerate the transition to low and net zero carbon buildings, while maximising the financial and productivity opportunities that will result.

      • Date: 16 Mar 2021
      • Online Event
      event logo
      Net Zero Festival 2021

      Net Zero Festival is the world's first business festival dedicated to exploring, advancing, and celebrating the global transition to a net zero emission economy. Join us at BusinessGreen's Net Zero Festival – for leaders who won't wait until 2050 to build a better business, and a better world.

      • Date: 27 Sep 2021
      • Worldwide
      View all events
  • SDG Hub
Business Green
Business Green
  • Home
  • News
  • In-depth
  • Opinion
  • Energy
  • Policy
  • Management
  • Technology
  • Investment
  • Net Zero Now
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
  • You are currently accessing BusinessGreen via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0) 1858 438800

    Email: [email protected]

    • Sign in
  • Hot topics
  • Green recovery
  • Net Zero Now
  • Net Zero Leadership
  • Net Zero Finance
Bgnzf20 1225 125 ribbons finance navy
  • Investment

Climate Action 100+: Nine out of 10 corporates exclude indirect emissions from climate goals

Climate Action 100+  is the the world’s largest ever investor engagement initiative on climate change
Climate Action 100+ is the the world’s largest ever investor engagement initiative on climate change
  • Cecilia Keating
  • Cecilia Keating
  • @cecilia_keating
  • 17 December 2020
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
0 Comments

Update from investor-backed campaign calls on companies to better account for their indirect emissions in corporate climate goals

Net zero pledges may have snowballed across the private sector over the past year, but the world's most polluting companies need to significantly strenghten their decarbonisation efforts to deliver the emissions reductions required to meet global climate goals.

That is the top line conclusion of a major report published this morning by the investor-backed Climate Action 100+ group, which reveals that while nearly half the world's most carbon-intensive companies have now pledged to deliver net zero emissions by 2050 at the latest, the majority of firms choose to exclude a major portion of their greenhouse gas emissions from their carbon calculations.

Related articles

  • Mars and DHL plot £350m UK logistics hubs to slash one million road miles
  • Drax launches green skills drive to 'boost social mobility for one million people'
  • Aegon commits to net zero across its default pension funds by 2050
  • Smart home energy market the focus of new consumer protection drive

The update reveals that while 43 per cent of firms surveyed have some form of net zero pledge in place, just one in 10 companies include the most material emissions produced by their supply chains and the end use of their products by customers from their climate goals. These emissions are otherwise known as Scope 3 or value chain emissions, and frequently comprise more than 90 per cent of corporates' carbon footprint.

It also warns that just 26 per cent of utility companies have coal phase out plans in line with the Paris Agreement's goals, and that nearly 200 new oil and gas projects that were green lit this year will undermine global efforts to ensure greenhouse gas emissions fall rapidly throughout the 2020s and beyond.

Stephanie Pfeifer, chief executive of the Institutional Investors Group on Climate Change (IIGCC), one of the five major investor networks behind Climate Action 100, said investor pressure had played a major role in spurring the flurry of net zero commitments chalked up by corporates over the past 12 months, a trend she predicted would accelerate over the coming year in the run up to the COP26 Climate Summit in Glasgow.

"Work will also continue to support those companies that substantiate net zero goals with robust business strategies," she added. "Long-term ambition needs to be made real with clear short- and medium-term targets, and capex alignment to support delivery of those goals."

The growth of Climate Action 100+ initiative over the past year is testament to growing investor appetite for corporate decarbonisation strategies, with the global campaign now endorsed by more than 545 investor signatories responsible for more than $52tr of assets under management.

"Investors are increasingly focused on assessing how well companies are positioned for both climate change and the net zero transition, by identifying which companies will be on the right and wrong side of climate history," former governor of the Bank of England and current UN special envoy for climate action and finance Mark Carney noted in the report's introduction.

"Climate Action 100+ has been leading this charge, providing the momentum, stewardship and analysis to support the world's highest-emitting companies in the strategic resets they need to make. Companies are clearly taking note."

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Investment
  • Climate Action 100+
  • Investment Hub

More on Investment

    • Investment
Scaling up sustainable finance: How can investors accelerate the net zero transition?
    • Investment
    • 15 January 2021
Credit: Poulssen
    • Investment
Aegon commits to net zero across its default pension funds by 2050
    • Investment
    • 15 January 2021
Adapting to increasingly severe climate impacts has fallen is not receiving enough attention from governments, according to UNEP | Credit: South Agency
    • Climate change
Climate adaptation: Could nature based solutions help bridge the gap?
    • Climate change
    • 14 January 2021
    • Investment
Pensions and investment industries launch stewardship steering group
    • Investment
    • 14 January 2021
The Alliance boasts 33 members holding $5.1tr of assets worldwide
    • Investment
Target Setting Protocol: Investor group worth $5.1tr unveils 2025 portfolio decarbonisation goals
    • Investment
    • 14 January 2021
Barclays UK Retirement Fund is just the latest to incorporate climate risk considerations more deeply into its investment decisions
    • Investment
Barclays' UK retirement fund to screen for climate risk in £1.3bn growth portfolio
    • Investment
    • 14 January 2021
    • Management
TSB banks on new roadmap to deliver net zero operational emissions by 2030
    • Management
    • 13 January 2021
BlackRock's coal exclusion policy applies to miners that generate 25% of revenue from the fossil fuel
    • Investment
'Climate pariah': Campaigners urge Blackrock to strengthen coal exclusion policy after counting $85bn of coal investments
    • Investment
    • 13 January 2021

More news

Global Briefing: Saudi Arabia plots car-free city stretching 100 miles
  • Management
Global Briefing: Saudi Arabia plots car-free city stretching 100 miles

Plus Danish diets, China climate policy signals, and all the top green business news from around the world this week

  • 15 January 2021
From taxes to targets: How can the UK curb its offshore carbon emissions?
  • Carbon Trading
From taxes to targets: How can the UK curb its offshore carbon emissions?

Major report makes the case for new carbon tax on imported goods and goods, as the Environment Secretary reveals the UK's climate targets could eventually cover carbon embodied in imported goods

  • 15 January 2021
Scaling up sustainable finance: How can investors accelerate the net zero transition?
  • Investment
Scaling up sustainable finance: How can investors accelerate the net zero transition?

As the sustainable finance sector booms, asset managers and owners are under increasing pressure to use their financial clout to steer a greener future

  • 15 January 2021
What will it take for 2021 to be a groundbreaking year for circular fashion?
  • Supply chain
What will it take for 2021 to be a groundbreaking year for circular fashion?

More than 100 billion garments are produced annually, and many end up in the landfill

  • 15 January 2021
blog comments powered by Disqus
Back to Top

Most read

Terra Carta: Prince of Wales launches green recovery charter for business
Terra Carta: Prince of Wales launches green recovery charter for business
Mars and DHL plot £350m UK logistics hubs to slash one million road miles
Mars and DHL plot £350m UK logistics hubs to slash one million road miles
Unilever and Alibaba launch 'world first' AI-powered closed-loop recycling system
Unilever and Alibaba launch 'world first' AI-powered closed-loop recycling system
'Environmentally regressive': UK government approves use of bee-harming pesticide banned in EU
'Environmentally regressive': UK government approves use of bee-harming pesticide banned in EU
10 green business trends to watch out for in 2021
10 green business trends to watch out for in 2021
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters
  • Facebook
  • YouTube
  • Instagram

Incisive Footer Logo

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading