Only 20% of G20 companies’ climate targets are science-based: study
Lila Karbassi, Head of Programs, United Nations Global Compact and Chair of the SBTi Board of Directors, said: “Last month’s IPCC report was a ‘code red’ for humanity. Urgent climate action must now be a top priority for those in power. The science-based targets are proven to reduce business emissions at the rate and scale required – they are a vital part of the puzzle for governments and businesses around the world.
“Ahead of the G20 summit and COP26, our world leaders must fully support science goals as an effective way to reduce emissions.”
The research is an update of the Taking the Temperature report, prepared by the CDP and the UN Global Compact on behalf of SBTi in June. The report analyzed companies’ emission reduction targets in G7 indices and produced a temperature rating by index, showing the level of global warming that would be achieved if the companies in the index met their targets.
It found that 71% of emissions from German companies in the DAX 30 are covered by science targets (SBT), resulting in the lowest temperature index of 2.2 degrees, while only 1% of companies Canada’s SPTSX 60 are covered by SBTs, resulting in the highest common temperature rating of 3.1 degrees.
The new research unveiled includes temperature ratings from the G7 index as well as key information on setting emission targets in G13 countries. He finds that G7 indices with a higher share of emissions covered by SBTs lead to lower overall temperature ratings.