South Pole's 2022 net zero research shows that surveyed companies are increasingly turning to new climate technologies alongside solutions for decarbonisation, with solutions like low-carbon hydrogen and technological carbon removals rising up companies' agendas compared to previous years. The central step on a company's climate journey is to make the most of the critical levers and solutions currently at its disposal in order toĭecarbonise, whilst proactively planning for the future by financing and adopting new innovations, such as technological carbon removals and sustainable fuels. It is abundantly clear that, in the next ten years, the near-term SBTs aligned with a 1.5☌ warming scenario need to beĪchieved by the majority of companies – especially big emitters – if emissions are to be drastically reduced. This is a concerning trend, as less public-facing communication makes targets harder to scrutinise and could lead to missed opportunities for sectors to work together to decarbonise.Ĭompanies are exploring all tools in the climate toolbox to meet net zero Nearly two-thirds of organisations are committing to rapid action by 2030 at the latest, which indicates that organisations are coming to terms with the need for urgent decarbonisation and setting ambitious targets with this in mind.Īt the same time, 13% of surveyed organisations have aggressive plans to meet net zero targets by or before 2024, which raises eyebrows and begs the question – do they fully appreciate the magnitude of reducing emissions across all of their direct and indirect operations (scope 1, 2, 3)?ĭespite businesses increasingly backing up their targets with science-based emissions reductions milestones, nearly a quarter (23%) have decided not to publicise their milestones beyond what is mandated. Leaders are going green – but not publicising progressĪmong sustainability-minded organisations, the trajectory for net zero is encouraging: within our sample of 1,200 corporate leaders across 12 countries, setting a net zero goal, science-based reductions milestones (SBTs), and a clear target date has become standard practice across all industries.
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