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Article

Press release: Global business has begun transition to low-carbon world, but large numbers risk being left behind

25 Oct 2016

  • New baseline-setting report for corporate climate action will track progress against Paris climate goals in future editions, and finds companies already gaining competitive advantage from reducing their emissions;
  • Business is gearing up to go low-carbon with 85% of companies already having emissions reduction targets in place;
  • But these targets are lacking long-term vision and only take companies one quarter of the way to being in line with keeping global warming below critical 2˚C threshold;
  • This year’s Climate A Listers are revealed including Apple, Sky plc and Toshiba.

…CDP’s report…presents carbon emissions and climate change mitigation data from 1,089 companies, disclosed to CDP…These companies…account for 12% of total global greenhouse gas emissions…Over a five-year period, 62 companies have succeeded in cutting their emissions by 10% or more while increasing their revenue by the same margin…Some of the largest companies in the world by market capitalization are notably absent from the analysis, having declined to respond to CDP’s investor-backed disclosure request…

[Also refers to Amazon, Berkshire Hathaway, Colgate Palmolive Company, Facebook, Host Hotels & Resorts Inc., SCA, Sony and Wipro.]