Document Type

Article

Publication Date

11-2021

Abstract

The Paris Agreement on Climate Change, adopted in 2015 and ratified or acceded to by 192 states and the European Union (EU), marked a historic turning point on global climate action. Achieving the agreement’s goal of limiting global warming to not more than 1.5 °C relative to the industrial era (1880-1900) will require a transformation of global energy systems, with the active participation and contribution of all actors in the economy. Many companies have pledged to reach net-zero direct and indirect greenhouse gas (GHG) emissions by 2050. This report analyzes such pledges by 35 companies across seven industries – oil and gas, mining, chemicals, utilities, cement, steel, and food processing – that jointly represent 64% of global GHG emissions on a direct emissions (scope 1) basis.

To examine how industry giants incorporate climate considerations into their business plans, this analysis considers companies that are ranked within the top ten of their sectors based on market capitalization. In addition, the analysis focused on companies that have publicly available net-zero pledges or other climate targets that provide insights into their future decarbonization plans.

Disciplines

Environmental Law | Law

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