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CDP’s second annual analysis in the ‘Tracking corporate action on climate change’ series shows that companies are stepping up their response to climate change, setting more ambitious targets to drive longer-term progress towards their low-carbon future.
The second in the annual Tracking progress on corporate climate action series, this analysis monitors corporate climate action using a baseline sample of 1,800+ companies selected in 2016 to represent the most significant in terms of market capitalization and environmental impact.
Of these companies, 1,073 responded to CDP’s investor-backed disclosure request this year, and their progress on reducing greenhouse gas emissions in line with the goals of the Paris agreement is being tracked against the benchmark set in 2016.
As well as tracking companies’ progress on reducing emissions, CDP’s annual analysis monitors the adoption of targets based on the most up-to-date climate science (science-based targets), use of internal carbon pricing, and renewable energy production and consumption. CDP is continuing to track the 700+ companies that have not yet responded to its disclosure request, to see if they begin to engage with this critical first step of climate action in future years.