❗ CLIMATE REPORT REVEALS SCOPE 3 AS MAIN HURDLE ❗
The climate strategies of 15 out of 24 global companies that have put themselves forward as climate leaders were found to have low or very low integrity – according to the new Corporate Climate Responsibility Monitor 2023 from the New Climate Institute.
The main reasons for the bad ratings are:
🚫 ambiguous net-zero pledges
🚫 over-reliance on offsetting
🚫 targets that address only a limited scope of emission sources
The last point is particularly critical, considering that Scope 3 emissions account for over 90% of the GHG emission footprints for most of the assessed companies.
👉 So what can we learn from the report? Some of the companies evaluated are already implementing #BestPractices that could help turn the tide quickly. These include:
✅ Deep decarbonization commitments – Holcim, H&M Group, Maersk, Stellantis, and ThyssenKrupp explicitly commit to reduce emissions by at least around 90% across the entire value chain next to their net-zero pledges.
✅ Emissions breakdown – Apple, Microsoft, Holcim, Maersk and Inditex provide a breakdown of emissions for each emissions scope, which allows for an understanding of emission sources.
You want to dive deeper and learn more best practices from industry experts on how to effectively address Scope 3 emissions? 👉 Then have a look at our upcoming CHOICE Webinars:
https://lnkd.in/eYQVR8KQ
