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Analysis: The ‘net-zero” promises of the largest companies avoid significant, immediate cuts

Analysis: The ‘net-zero” promises of the largest companies avoid significant, immediate cuts

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According to Monday’s analysis by NewClimate Institute, and Carbon Market Watch, twenty-five companies have committed to net-zero greenhouse gases emissions. This means that they will only reduce their emissions by 40%.

The groups found that many major companies with zero emission pledges conceal information or use accounting tricks to present more ambitious goals in their Corporate Climate Responsibility Monitor.

The organizations cite Amazon for an example. They found that Amazon was unclear on its targets or whether they applied to carbon dioxide or all greenhouse gases. The report also criticizes Amazon for not being transparent about how it plans decarbonize its downstream emissions 3 emissions. These emissions are produced by company assets that are not owned by the company. They account for 19.5 percent of all emissions making it difficult to evaluate the pledges’ practical value.

Amazon is on a path towards powering its operations with 100% renewable electricity by 2025 as part of our goal of reaching net-zero carbon by 2030, a spokesperson for Amazon said to The Hill. They cited the company’s goal to deliver half of all shipments by 2040 with net-zero carbon emissions, as well as its deployment in 100,000 electrified delivery cars.

According to environmental organizations, Novartis, an American-Swiss pharmacy company, scored very low for transparency and integrity in its pledge. The company plans to offset 65 per cent of its carbon emissions rather than reduce them. The report describes this as a contentious method to achieve carbon neutrality, with plenty of opportunity to mislead. According to the report, the company also is not transparent enough about the emissions in its supply chains.

We set out in search of replicable good practices. However, we were surprised and disappointed by the integrity of the claims made by Thomas Day of NewClimate Institute. Statement. As companies feel more pressure to act on climate changes, their headline claims are often too lofty and lack substance. This can confuse both consumers as well as regulators who are crucial to their strategic direction. Even companies that are doing well exaggerate the consequences of their actions.

Novartis reacted negatively to the report.

“We disagree with reports assessments of our performance and integrity of our reporting. The Hill was informed by a Novartis spokesperson that we publish all information requested by the researchers transparently. We also follow the standard reporting structures as embedded in CDP questionnaire. The Novartis strategy and operating system includes the environmental sustainability agenda. Our climate strategy aligns with the Paris Agreement, which aims at limiting global temperature rises below 1.5C. It covers both our own operations (scope 1 & 2) and our supply chain (scope 3).

This report comes as major corporations have increased their commitment to zero-emissions goals, and public officialssuch the U.S. climate ambassador John KerryJohn KerryComing soon: Climate lockdowns? Overnight Energy & Environment Limits in contamination claims at military base The Hill’s Morning Report – Biden – Russia attack ‘would transform the world’Kerry has emphasized the importance of private sector cooperation in preventing catastrophic warming. Kerry stated that the number of private companies pledging net-zero emissions was one of the most encouraging developments in 2021’s COP26 climate summit.

Updated at 4:12 PM

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