- Half of the top 2000 companies globally target net-zero emissions.
- Only about 4 per cent of these companies meet rigorous United Nations standards for quality pledges.
Around half the world’s largest 2,000 companies aim for mid-century net-zero emissions. However, only a few meet United Nations standards, says the Net Zero Tracker, backed by Oxford University. Targets among these firms rose to 40 per cent, from 702 to 1,003, covering two-thirds of global revenues. Yet only 4 per cent meet the United Nations “Race to Zero” criteria, which require full emissions coverage, immediate reductions, and annual progress reports.
This raises doubts about corporate ability to meet United Nations climate goals, a focus at the upcoming COP28 talks in Dubai. The Net Zero Tracker, combining machine and human data analysis, also monitors commitments from nations, states, regions, and cities, highlighting the challenge of aligning pledges with actual progress.