Continuing Challenges for Companies Attempting to Meet Net-Zero Goals

February 21, 2023

The 2023 Corporate Climate Responsibility Monitor (CCRM), produced in partnership by Carbon Market Watch and the New Climate Institute, contend that of the 24 multinational corporations assessed in the review – “the largest three global companies with bold climate pledges from eight consumer-facing industrial sectors” – 15 of them have proposed climate change strategies that “do not add up to what their pledges might suggest.” While each of the 24 assessed companies is affiliated with the UN-sponsored Race to Zero campaign, publicly committing to decarbonization efforts aligned with limiting global warming to 1.5 degrees Celsius, the CCRM commented that, in the authors’ view, it is now “more difficult than ever” to differentiate between companies that demonstrate “real climate leadership” and those engaged in “unsubstantiated greenwashing.”

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