Large corporations still lack credible climate strategies

A report by the NewClimate Institute and Carbon Market Watch notes that headline emissions reduction targets are often clouded by incomplete data, sectoral gaps and poor practices in emissions accounting.

Large global corporations, such as automakers, food companies, and tech giants, are yet to come up with credible corporate climate strategies, according to an analysis of companies’ plans by Germany-based NewClimate Institute and Carbon Market Watch. None of the 20 companies thoroughly evaluated, such as Amazon, Ford, Adidas and Mars, demonstrated a “reasonable” or “high” integrity climate strategy, according to the institute. “Only a few pioneering companies, such as H&M Group, Stellantis and Apple, are assessed with ‘moderate’ integrity.

“While awareness of what constitutes credible corporate climate action is growing among companies and regulators, even the most ambitious companies often fail to adapt their business models with the speed and scale needed to meet the 1.5°C goal of the Paris Agreement,” said co-author Frederic Hans. Organizations have evaluated companies’ strategies for several years.

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