On Friday 22 April, it was Earth Day. This year’s theme as Invest in Our Planet, calling on everyone including government, citizens, and companies, to contribute to tackling climate change.
Just 100 companies have been the source of over 70% of emissions since 1988, found a study by the international non-profit organisation CDP in 2017. In that light, pushing the private sector to contribute to reducing emissions seems like a necessary step in reducing global emissions.
When investigating the climate strategies of 25 major global companies, the non-profit NewClimate Institute found that pledges made in these public strategies are often ambiguous and emission reduction commitments are limited.
“All of the 25 companies assessed in this report pledge some form of zero-emission, net-zero or carbon-neutral target,” the researcher wrote. “But just 3 of the 25 companies (…) clearly commit to deep decarbonization of over 90% of their full value chain emissions by their respective net-zero and zero-emission target years.”
Based on an average of 23 companies, the airport services and air freight transportation and logistics sectors have committed to reducing 46% and 33% of emissions in 9.5 and 11 years respectively. That is less ambitious than the average of all companies Across all companies in the database the average target is for a reduction of 44.6% in a timeframe of 12 years.