Nearly Double the Number of Companies Pledging Zero Emissions: Analysis Finds

Research has found that the number of major companies in the world that have pledged to record zero emissions has nearly doubled in two and a half years.

And the British agency “PA Media” stated that an analysis of data from the “Net Zero Tracker” platform that monitors the progress of companies, cities and countries around the world with regard to decarbonization, showed that 909 companies within the Forbes Global 2000 index set goals related to recording zero emissions, with a rise in By 46%, compared to 417 companies in December 2020.

For the Forbes 2000 index of UK companies, which includes Royal Mail, Lloyds Banking Group, Sainsbury’s and Taylor Wimpey, the number of companies setting emissions targets rose 60% to 61, compared to 37 in December 2020.

It comes as the researchers behind the index, which includes the Energy and Climate Intelligence Unit and Oxford University, released their annual data.

The researchers warned that despite the high number of targets set over the past years, the credibility gaps could undermine progress towards zero emissions.

For example, 4% of companies’ commitments towards zero injuries meet the objectives of the “UNRACE TO ZERO” campaign, which includes conditions such as covering all gas emissions, as well as clear terms on the use of compensation and a stated plan.

The researchers also warned that although 67% of fossil fuel companies have commitments to record zero casualties, the absence of plans to get rid of oil and gas leads to the inconsistency of these goals from the scientific and political consensus.

They also added that fossil fuel companies are not making the commitments necessary to fully transition from the extraction or production of fossil fuels, despite UN guidance that zero casualty targets should include “specific targets aimed at ending or subsidizing the use of fossil fuels”.