Studie der NGO »CDP«, 6.9.2022 (engl. Originalfassung)
Amid a challenging global context of energy insecurity, rising inflation, and extreme weather in many regions, COP27’s goal to keep the Paris Agreement’s 1.5°Celsius target alive is more critical than ever. The G7’s private sector has an important role to play in that effort. Strong momentum in 2021, particularly in the runup to last year’s COP26, saw the number of corporates committing and setting climate targets increase rapidly.
Yet, our analysis shows that the greenhouse gas (GHG) emissions reduction targets publicly disclosed by companies in G7 economies are still only ambitious enough to align with a 2.7°C decarbonization pathway — or 2.4°C if emissions from corporate supply chains, known as Scope 3 emissions are excluded. Both are still well above the Paris Agreement’s goal to keep Earth’s temperature rise at or below 1.5°C — the upper temperature limit that science demands to avoid the most catastrophic environmental impacts.
The highest temperatures are found in the G7 countries where the fewest companies have adopted targets. In Canada, which is looking at a rise of 3.1°C, 88% of all reported emissions come from companies lacking targets. In the United States, with companies aligned with a 2.8°C increase, over half of emissions not covered by targets are from the fossil fuel sector.
Without valid targets, the CDP temperature rating methodology assumes that limited-to-no decarbonization by companies takes place. Where more companies have targets, such as in Europe, the distinguishing factor is how ambitious these targets are.
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