NEW YORK - Companies in the Group of Seven economies are failing to meet Paris Climate Agreement objectives, non-profit disclosure platform CDP and global management consultancy Oliver Wyman said on Tuesday, based on current corporate pledges to cut emissions.countries agreed to cut greenhouse gas emissions fast enough to limit global warming to 2 deg C and aim to keep the rise below 1.5 deg C, which scientists say would avert some of its worst effects.
"It is not acceptable for any country, let alone the world's most advanced economies, to have industries displaying so little collective ambition," Mr Laurent Babikian, Global Director of Capital Markets at CDP, said in a statement. Collective emissions of US and Canadian firms are seen matching the pace of decarbonisation required to restrict global warming to 2.8 deg C and 3.1 deg C, respectively, with the study stating that it is"largely the result of companies completely lacking targets, rather than targets that lack ambition".