New report calls on governments and investors to increase pressure on firms to align emissions reduction strategies with 1.5 degree scenarios.
Companies have largely avoided scrutiny on climate, but investor pressure could be a catalyst for change.
Institutions have responded to COP26’s pledge to ‘mobilise finance’ with plans that will transform priorities and processes.
Lihuan Zhou, Associate at the World Resources Institute’s Sustainable Finance Center, identifies six climate actions for the private sector.
The Science Based Targets initiative’s Alberto Carrillo Pineda plans to “accelerate the domino effect of corporate climate ambition”.
Public consultation re-emphasises importance of financial institutions transitioning to net zero alongside corporates.
“Concrete and actionable carbon-reduction strategies” required from governments to drive capital reallocations, say investors, while reinforcing commitment to science-based targets.
CA100+ issues decarbonisation guidance for steel corporates; strategies for other carbon-intensive sectors to follow.
With a rush and a push, many politicians cleared their in-trays this week.
Target-setting initiative to no longer accept ‘well below 2°C’ temperature targets from corporates, in response to “increasing urgency for climate action”.
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