Most businesses need to improve the credibility of their Net Zero targets and their plans for meeting them to avoid accusations of “greenwashing”
More than a fifth of the world’s biggest public companies have made commitments to cut their emissions to “net zero”, according to a study.
However, most businesses need to go further to improve the credibility of their targets and their plans for meeting them to avoid accusations of “greenwashing”, the report’s authors warn….
Out of the 2,000 largest publicly traded companies by sales, 417 have set net zero goals, the report by the Energy and Climate Intelligence Unit and Oxford Net Zero has found.
However, the quality and credibility of the targets varies widely. Only 27 per cent of the companies that have set targets include emissions across all “scopes” — including “scope 3” emissions in the value chain, such as those from customers using their products….
The report also highlights concerns that too many companies may be relying on offsetting their emissions through carbon credits — paying for emissions cuts elsewhere, rather than cutting their own.