Business

What is behind the company’s commitment to climate change?

Some progress has been made by companies with strict goals.To Report Launched last month by hundreds of companies rallying environmental groups and the United Nations, the science-based target is 2015-2019 for 338 large companies around the world with sufficient emission data.

Large companies in the same industry often have very different records.

For example, Wal-Mart discloses progress on carbon disclosure projects, including emission reduction targets and emissions targets from suppliers, and the plans are scrutinized by science-based targets.But Costco doesn’t expect a commitment to reduce emissions Until the end of next year.. Costco executives declined to comment.

Netflix is ​​often compared to tech giants like Google and Microsoft. However, Netflix has not yet set goals to reduce emissions caused by offices, production activities, and the computer servers it uses. “Climate change measures are important and we will announce a plan in the spring that includes goals based on climate science,” the company said in a statement.

It is difficult to reduce emissions. Companies need to ensure that they measure the amount of carbon dioxide and other greenhouse gases they are responsible for. Second, companies need to find a cleaner energy source without compromising their business. If no cleaner alternative is found, businesses often pay others to reduce emissions or remove carbon from the atmosphere.

This task becomes even more difficult as companies begin the process of reducing so-called Scope 3 emissions, the pollution caused by suppliers and customers. For oil companies, for example, Scope 3 includes emissions from gasoline-powered vehicles.

With $ 8.7 trillion in assets, including stocks of many companies, BlackRock faces obvious challenges. The company does not directly own most of the stocks and bonds it buys, but manages them for pension funds, other businesses and individual investors, limiting its commitment to climate change. In addition, most of its investment products track indexes like the S & P 500, which inevitably leads to the control of fossil fuel company stocks.

Many Wall Street companies have promised zero emissions from loans and other financial activities, but it’s clear whether that goal applies to stocks and bonds they manage for their clients. Not made. The decision to include all assets managed by BlackRock could pressure other financial giants to make similar promises, but could rank the fossil fuel industry and its political supporters in Congress. There is sex.

What is behind the company’s commitment to climate change?

Source link What is behind the company’s commitment to climate change?

Back to top button