Companies Sticking with Climate Targets

Companies are largely maintaining their high-level climate commitments to net zero and greenhouse gas (GHG) emissions reductions despite some recent scale backs and variations across sectors and regions, Sustainable Fitch says in a new report released May 21. The report reviews corporate emissions and climate targets by combining insights from three data viewpoints—a review of public corporate statements from a sample of 40 large issuers, a sample of outcomes from Sustainable Fitch’s Transition Assessments for oil and gas companies, and emissions targets data and derived emissions intensity from Sustainable Fitch’s data for rated and scored entities. The findings indicate that, despite some recent scaling back of targets and variations across sectors and regions, companies are largely maintaining their high-level climate commitments either to net zero and/or GHG emissions reductions. Nearly 60 percent of the 40 large corporate and financial institutions who were sampled have maintained their commitments. A third have increased theirs in recent months, with just over 10 percent scaling back elements of their climate targets.

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