One-third of companies have climate change plans
Of the more than 13,000 global companies disclosed to the organization, according to the CDP One-third actually make a climate transition plan..
In addition, CDP states that “a few” 1% of companies reported through a total of 24 key indicators associated with “reliable” climate change programs.
These 24 elements needed for a credible transition to NetZero include a powerful level of monitoring, “robust” scenario analysis, and time-limited actions to decarbonize your business.
In the transportation and apparel sector, the situation worsened, with only 0.3% of companies reporting through these indicators.
Nicolette Bartlett, Chief Impact Officer of CDP, said: “Currently, one-third of the organizations disclosing through the CDP report the development of low-carbon transition plans.
“This is inconsistent with the willingness of investors, customers, employees and governments seeking more scrutiny since COP26.
“Importantly, these plans also need to be evaluated to ensure that they meet the expectations of stakeholders and actually address the needs of the climate. Are they science-based? Interests? Are stakeholders effectively tracked so they can assess their progress? The progress of their peers? All of this enables an important accountability mechanism. “
according to Climate Transparency 2021 ReportThe G20, which is published separately, accounts for about 75% of greenhouse gas emissions.
“More work is needed, as only 4% of organizations in these countries disclose all key indicators,” the CDP said.
The organization added: “Of the 117 countries disclosed by companies in 2021, Spain, France and Japan had the highest percentages of organizations disclosing all key indicators, but only 4%, 3% and 2%, respectively. Indonesia, Saudi Arabia, Argentina and China had the lowest number of disclosure companies. “