Think tanks warn against Scope 3 flexibility as corporate climate targets remain insufficient
Corporate Climate Responsibility Monitor urges VCMI and SBTi to strengthen their standards.
Despite slow improvement in aligning carbon reduction goals with a 1.5ºC scenario, most companies’ climate targets remain insufficient and unsubstantiated, with think tanks warning that efforts to introduce flexibility around Scope 3 decarbonisation would further undermine ambition.
Analysing the climate strategies of 51 major companies across the automotive, utilities, fashion and food sectors based on quality, credibility and comprehensiveness, the latest Corporate Climate Responsibility Monitor (CCRM) published today by NewClimate Institute in collaboration with Carbon Market Watch, finds that none of them currently have high-integrity targets.
