Tuesday, March 2nd, 2021
“Corporate Sector Is Running Hot”
Companies are heading for 2.7 degrees global warming
To prevent the climate catastrophe, global warming must be slowed to less than two degrees by the end of the century. A study shows that the goal will not be achieved if European companies implement their climate targets as planned.
With their current climate targets and emissions, European companies are heading towards global warming of 2.7 degrees by the end of the century. This is the result of the Carbon Disclosure Project (CDP), which has analyzed the savings targets issued by companies and other data. The non-profit organization based in London uses standardized queries to collect data and targets from companies about their climate protection efforts and also includes indirect emissions. An index published annually is intended to provide comparability for shareholders and the general public.
“The European corporate sector is running hot. Given current ambitions, it is on a 2.7 degree path of global warming – more than one degree more than climate science believes we can get to avoid the most catastrophic effects of climate change “said the organization’s executive director, Maxfield Weiss. However, it is positive that more and more companies are even drawing up a plan to reduce their climate-damaging emissions.
According to the current status, 56 percent of the almost 1000 companies examined by the Carbon Disclosure Project have so far had such a strategy. The analysis shows that companies in Sweden, Denmark and Switzerland are still in the best position with a path below two degrees, while the companies in Great Britain, Belgium and Italy with their emissions even warm the earth up to three degrees would lead to the year 2100.