Only 20% of G20 companies’ climate targets science-based: Study

Only 20% of G20 companies’ climate targets science-based: Study

(MENAFN- IANS)

New Delhi, Sep 23 (IANS) Growing numbers of companies in the G20 are setting climate targets but most fail to align with climate science, a new research by the Science Based Targets initiative (SBTi), the global body enabling businesses to set emissions reduction targets in line with science, said on Thursday.

Across the G20, 4,215 companies have disclosed climate targets to the Climate Disclosure Project (CDP)'s database but just 20 per cent of these are science-based targets in line with Paris Agreement goals.

This is made up of 2,999 companies in the G7 and 1,216 companies in the G13. In the G7, 25 per cent of targets are science-based, compared to just six per cent in the G13.

G7 countries are led by the UK and France, with 41 per cent and 33 per cent of disclosed climate targets being science-based.

Meanwhile some of the world's heaviest emitters, which are found in the G13 group of countries -- such as Indonesia, Russia and Saudi Arabia -- do not contain a single company to have submitted an approved science-based target.

The UN Intergovernmental Panel on Climate Change (IPCC) report in August stated that global temperatures were 'likely' to rise above the 1.5 degrees Celsius target