Bloomberg — The companies they are not presenting transparent and reliable plans to confront climate change at a sufficiently fast paceaccording to a new study that analyzed more than 23,000 companies from all over the planet.
According to CDP, the global nonprofit organization focused on increasing the dissemination of environmental information, only 2% of companies who have committed to developing a plan in accordance with the 1.5ºC objective They provide all the data needed to make sure your emissions reduction plans are working.
Companies are not making credible climate plans quickly enoughVery few companies have committed to a plan aligned with 1.5°C; Among the countries, Japan is the country with the largest number of companies with plans and they provide all the recommended information.(Photographer: Bloomberg/Bloomber/Bloomberg)
Even more, The figure drops to less than 1% when all companies that present environmental data are considered.
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The number of companies that notified a 1.5°C plan grew by 44%, reaching around one in four. Although this is “encouraging, the adoption of reliable measures for planning a climate transition is not occurring quickly enough,” according to the report.
That slow response from companies is prompting governments to increasingly require disclosure of their transition plans to net zero emissions.
Recently, the European Union has adopted the Corporate Sustainability Due Diligence Directivewhich forces companies to develop climate transition plans and face legal responsibilities if they do not identify and address human and environmental rights violations in value chains.
CDP highlighted some bright points in its latest report.
Japan is the country with the most companies (32) with transition plans that provide all recommended informationand climate information sharing is improving in the United States, the United Kingdom, and the European Union.
It is also worth noting, according to CDP, that three out of four companies listed on select indices such as the FTSEurofirst 300 and the KOSPI200 provide information on two-thirds or more of the indicators.
Some companies “are recognizing that the requirements in this regard are going to be increasingly stricter in the coming years,” he stated. Amir Sokolowski, CDP global climate change officer.
The companies already they won’t be able to hide following the claim that data and methodologies are not available, and for investors eager to know the transition plans that is good news.
“The ability to build an absolutely brilliant one is there,” Sokolowski said. “There are no more statements: Of course we will do it, it will take me 15 years. It can be done in much less.”
Read more at Bloomberg.com
