According to recent reports of Carbon Disclosure Project, world’s largest firms are on track to reach the recommended levels of greenhouse gas cuts by 2089. As 39 years are too late to avoid dangerous climate changes, it is necessary for largest firms to double their pace of co2 emission reductions.
It appears that a total of world’s 100 firms are currently on track for an annual cut of 1.9% per annum, which is below the required level.
Here is how to bridge carbon chasm:
- Every company should set a CO2-e reduction target.
- Targets must have clear baseline and target years.
- Governments need to agree clear medium and long-term reduction goals in Copenhagen to provide a framework for business to set required targets.
- Company targets should reflect the IPCC scientific recommendations and whilst absolute targets are preferred for clarity, aggressive intensity targets can also deliver.